Waddell & Reed Reviews | Glassdoor

Waddell & Reed Reviews

Updated June 28, 2017
319 reviews

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319 Employee Reviews

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Pros
  • Great work/life balance as you set your own schedule (in 13 reviews)

  • Recently upgraded technology with e-signature paperwork (Docupace), financial planning (E-Money), and investment tools (Morningstar & Envestnet) (in 18 reviews)

Cons
  • Unpaid, little to no hands on work, basically like sitting in classroom all summer long (in 11 reviews)

  • Building a book of business is definitely the biggest con (in 10 reviews)

More Pros and Cons

  1. "Good place to learn"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Waddell & Reed full-time

    Pros

    Good entry point in to financial planning and investments, high payout on most products, very competitive comp grid

    Cons

    limited product availability in the classic channel, limited support and training after the first year, very much a sink or swim situation


  2. "Good Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in San Francisco, CA
    Former Employee - Financial Advisor in San Francisco, CA
    Neutral Outlook
    No opinion of CEO

    Pros

    Good people who are willing to help you succeed. New tools and platform are being rolled out which will make paperless workflow a lot better.

    Cons

    Classic advisors are limited to mostly proprietary product with a few extras. Makes it hard at times to be competitive.

    Advice to Management

    If financial planning is the main goal, management should have experience in that area. Otherwise it's difficult to focus on planning when management focuses on expertise from previous employment outside of financial planning.

  3. "W & R"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Camp Hill, PA
    Current Employee - Financial Advisor in Camp Hill, PA
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I have been working at Waddell & Reed full-time (More than 5 years)

    Pros

    Great people. Good products

    Cons

    Many regulations. Income not sustainable.


  4. Helpful (1)

    "Waddell & Reed FA"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook

    I have been working at Waddell & Reed full-time

    Pros

    Your income is entirely based upon how hard you work. This is a double edged sword based upon your personality, but if you are entrepreneurial, and well connected, you will thrive in this field.

    Cons

    The training you receive at the very beginning isn't comprehensive, and doesn't really prepare you for what working at W&A is really like.

    No benefits as a 1099 employee.

    Very little assistance from management and other team members. If you are experienced and have quality connections this will not be as much of a problem, but this is not a job you should move across the country straight out of college for.

    Advice to Management

    Don't hire advisors straight out of college. They aren't going to have the connections and experience necessary to find people, and close out deals.


  5. Helpful (2)

    "Project Manager"

    StarStarStarStarStar
    Former Employee - Anonymous Employee in Shawnee, KS
    Former Employee - Anonymous Employee in Shawnee, KS

    I worked at Waddell & Reed full-time (More than 5 years)

    Pros

    Very few. They have an on site cafeteria that is pretty decent. They don't hold people very accountable and the CTO is horrible.

    Cons

    The pay is very low. The CTO doesn't have a clue what he's doing. The business is disorganized and chaotic. Very good old boys club vibe.

    Advice to Management

    You're falling apart for a reason.


  6. "Churning Networks"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Saint Louis, MO
    Former Employee - Financial Advisor in Saint Louis, MO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Waddell & Reed full-time (More than a year)

    Pros

    Better than nothing for the financial illiterate.

    Cons

    Horrible incompetent regional management. Management has very little understanding of what their competition has to offer from services, strategy, or overall knowledge. I you have high expectations for yourself, work elsewhere... you deserve better.

    Advice to Management

    Learn to take constructive criticism and improve your service & product platforms. Get away from the toxic & inadequate proprietary products.


  7. "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Tacoma, WA
    Current Employee - Anonymous Employee in Tacoma, WA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Waddell & Reed full-time (More than a year)

    Pros

    Great Atmosphere--friendly work environment. Helpful office staff. Good balance of work and family life

    Cons

    Wish there was a little more assistance getting started. Even after you pass all required tests, the paperwork required by the company for every transaction is huge. Many forms are very similar and management doesn't provide the assistance to even tell you where to start. Find a good employee to work with--I did.

    Advice to Management

    Better on board training.

  8. "Business Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Waddell & Reed full-time

    Pros

    Good benefits. Friendly co-workers. Good work life balance.

    Cons

    Cross departmental communication is almost non-existent. Lack of vision for the company, or at least the vision is not communicated in a regular, transparent fashion. Very vertical organization.

    Advice to Management

    Empower your mid-level managers to actually make decisions and hold them ACCOUNTABLE.


  9. "Intern"

    StarStarStarStarStar
    Former Employee - Intern in Kansas City, MO
    Former Employee - Intern in Kansas City, MO

    I worked at Waddell & Reed (Less than a year)

    Pros

    Great place to gain work experience as an intern.

    Cons

    Surely a finance company has enough money to pay interns,


  10. "Intern"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Great learning experience. Friendly team.

    Cons

    It is up to you to take initiative to find work.


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