Waddell & Reed Financial Advisors
A subsidiary of Waddell & Reed Financial, Inc.
6300 Lamar Ave.
Overland Park, KS 66202
Clearing firm: Pershing LLC
No. advisers: 1,425
No. franchises: 397
Year founded: 1937
Year end: Dec. 31
Recruitment & Staffing
|No. of reps||1,425||1,467||1,906|
|No. of producing reps||—||1,367||1,780|
|No. of reps producing $100K-$499K /year||—||779||855|
|Total revenues: Other||$69,034,295||$66,523,376||$73,485,935|
|Total account assets||$56,732,721,709||$51,728,127,516||$51,046,929,728|
|Total account assets: Other||$35,119,317,754||$33,371,823,068||$33,402,491,704|
|Average assets per rep||$38,672,612||$27,139,626||$25,807,346|
November 14, 2018 - Waddell & Reed Inc. will no longer lease office space for most of its 1,074 independent contractor brokers and advisers, requiring them to find and relocate to their own offices by the end of 2020. Most of the firm's brokers and advisers currently lease...
August 28, 2018 - Even as it seeks to build a more profitable business model, Waddell & Reed is seeing more experienced, productive financial advisers walk out the door, losing a half dozen in the Midwest in little more than a week. Three â€” Mike Smith in Louisville,...
August 22, 2018 - Waddell & Reed continues to lose reps and advisers. Most recently, a veteran, award-winning team in Northern California that produced $1.6 million in annual revenues bolted to start their own RIA. Elaine and Scott Manley both left Waddell & Reed on Aug....
August 18, 2018 - Has Trust Company of America hitched its wagon to a star or turned its back on loyal clients? It depends on whom you ask. Either way, the $275 million acquisition in April of TCA by discount broker ETrade has the custodian world buzzing. In one corner...
July 31, 2018 - Waddell & Reed Financial Advisors continued to lose brokers and advisers in the second quarter, although at a much slower pace than in the past. The broker-dealer reported that it lost 40 advisers in the most recent quarter compared with the quarter before,...
May 31, 2018 - Brokerage firms that sell lucrative proprietary products, such as mutual funds built and managed by company executives, face an inherent conflict of interest. It's a story that's as old as investing. When a registered rep sells a client such a fund, the...
May 17, 2018 - The brokerage industry is frantically remaking itself. Wall Street brokers are leaving the big banks and wirehouses in droves. Independent contractor firms like LPL Financial are binging on acquisitions, while competitors like Securities America Inc....
May 16, 2018 - Waddell & Reed Financial Inc. has seen a flurry of departures of senior executives from the company and its related mutual fund businesses. On April 17, the company's general counsel and chief legal officer, Wendy J. Hills, left the company, a day before...
August 7, 2017 - CLEARING FIRMS Listed by reported number of broker-dealer clients Firm Phone/website # of clients % change vs. 2016 Contact Phone/email Pershing (800) 445-4467 714* -3.90% Michael Row (800) 445-4467 One Pershing Plaza, Jersey City, NJ 07399 pershing.com/who-we-serve/broker-dealers...
January 22, 2017 - The 2017 InvestmentNews independent-broker-dealer directory is based on information provided by 90 eligible firms. To be considered for future listings, contact INResearch@investmentnews.com. Visit InvestmentNews.com/bddata for more-complete profiles....
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.
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