Waddell & Reed Financial Advisors

Waddell & Reed Financial Advisors

A subsidiary of Waddell & Reed Financial, Inc.


6300 Lamar Ave.

Overland Park, KS 66202

(913) 236-2000


Clearing firm: Pershing LLC

No. advisers: 1,403

No. franchises: 397

AUM: $51,265,839,191

Year founded: 1937

Year end: Dec. 31

No. of retail offices: 398

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Additional data available to subscribers:
  • No. of reps, male
  • No. of reps, female
  • No. of producing reps, male
  • No. of producing reps, female
  • No. of reps producing $500K+ /year
  • No. of CFPs
  • No. of full-time employees
  • No. of fee-based advisers served
  • Average payout per rep, per year
  • Avg. annual production of top 20% reps
  • Total payout, per year
  • Cost of E&O insurance per rep, per year
  • Affiliation fees charged per rep, per year
  • Affiliation fee coverage
  • Securities revenues
  • Securities revenues: Stocks
  • Securities revenues: Bonds
  • Securities revenues: ETFs
  • Securities revenues: Other
  • Mutual fund revenues
  • Annuities revenues
  • Annuities revenues: Fixed
  • Annuities revenues: Variable
  • Annuities revenues: Other
  • Insurance revenue
  • Insurance revenues: Life
  • Insurance revenues: Disabilities
  • Insurance revenues: LTC
  • Insurance revenues: Other
  • Alternative revenues
  • Alternative revenues: Hedge funds
  • Alternative revenues: Managed futures
  • Alternative revenues: Private placements
  • Alternative revenues: REITs
  • Alternative revenues: Other
  • Other commission revenues
  • Fee revenues: Rep-managed accounts
  • Fee revenues: Firm-managed accounts
  • Fee revenues: Outside-managed accounts
  • Fee revenues: Other
  • Fee-based assets: Clearing firm
  • Fee-based assets: Advisory firm platforms
  • Fee-based assets: Third-party money managers
  • Fee-based assets: Other
  • Is the firm, or an affiliate of the firm, registered as an investment adviser with the SEC?
  • Allows an adviser to have his/her own RIA
  • RIA platform AUM
  • Offers robo-advisory platform?
  • If not, when plans to offer a robo-platform
  • Robo-advice services offered
  • How robo-platform developed
  • Charge for robo-advisory services?

For More Information

Top ExecutiveShawn Mihal
Recruiting ContactDavid Call
(913) 236-3994
Compliance ContactElizabeth Hansen
(913) 236-2000
Marketing ContactLori Dorsey
(913) 236-2000
Technology Operations ContactCraig Junkins
(913) 236-2000

Recruitment & Staffing

2018 2017 2016
No. of reps1,4031,4671,906
No. of producing reps1,0601,3671,780
No. of reps producing $100K-$499K /year623779855

Payout grid is available to Data Center subscribers only.

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2018 2017 2016
Total revenues$522,793,569$476,612,275$487,411,769
Commission revenues$158,898,791$160,167,225$196,395,475
Fee revenues$259,863,842$235,134,861$224,492,917
Total revenues: Other$104,030,936$81,310,189$66,523,376
2018 2017 2016
Total account assets$51,265,839,191$56,732,721,709$51,728,127,516
Fee-based assets$21,206,978,905$21,613,403,955$18,356,304,448
Total account assets: Other$30,058,860,286$35,119,317,754$33,371,823,068
Average assets per rep$36,540,156$38,672,612$27,139,626

Top clearing and custody firms for financial advisers

August 17, 2019 - CLEARING FIRMS Listed by reported number of broker-dealer clients Firm Phone/website # of clients % change vs. 2018 Contact Phone/email Pershing One Pershing Plaza, Jersey City, NJ 07339 (800) 445-4467 pershing.com 625 -4.40% Michael Row Chief relationship...

Advisers managing $185 million at Waddell & Reed go indie with LPL

June 5, 2019 - Three advisers who managed $185 million at Waddell & Reed Financial Advisors in Idaho Falls, Ida., have left and formed Teton Wealth Management, affiliating with the broker-dealer and registered investment adviser platforms of LPL Financial. (More:​...

2019 top independent broker-dealers ranked by revenue

April 24, 2019 - Firm 2018 revenue ($M) % change vs. 2017 2018 commission revenue ($M) % change vs. 2017 2018 fee revenue ($M) % change vs. 2017 2018 other revenue ($M) % change vs. 2017 1 LPL Financial LLC 5188.4 21.2 1919.7 14.9 1793.5 27.3 1475.2 22.8 2 Ameriprise...

Waddell & Reed will no longer lease office space for many of its brokers

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...

Half a dozen Midwest advisers bolt from Waddell & Reed

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 — Mike Smith in Louisville,...

Top Waddell & Reed team bolts to form RIA

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....

What's in a name? For TCA by ETrade, everything

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...

Waddell & Reed continues to shed brokers, though productivity rises

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,...

Is David Lerner still chomping on the proprietary product apple?

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...

What's the next act for Waddell & Reed's advisers?

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....

  • 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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