Waddell & Reed

CRD#866
Investment Advisor Firm

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Overview

Waddell & Reed operates as an advisory firm that has its headquarters in Mission, Kansas. The company manages $21.2 billion in total assets over 169,956 client accounts, placing it among the largest investment advisory firms in the United States by assets under management (AUM). It has a very large group of 1,700 employees, all of whom are financial advisors. Waddell & Reed does not act as a registered broker-dealer, meaning the advisor is not able to buy and sell securities for its own accounts as well as its clients' and instead is required to go through a broker-dealer company to do so. Securities are tradable fiscal investments such as bonds, stocks and options.

Waddell & Reed manages some of the company's client assets on a discretionary basis. Discretionary management is a structure in which transaction judgments are made by an investment advisor without requiring client authorization. Waddell & Reed also oversees 162,956 non-discretionary accounts totaling $19.8 billion in assets. The company manages about $124,780 in assets for each customer account. The average advisor at Waddell & Reed administers around 100 client accounts.

The company's headquarters is located at 6300 Lamar Avenue, Mission, Kansas 66202-4200. It is registered to serve investors across 51 U.S. states and territories.

Assets Under Management

$21.2 billion

Number of Advisors

1,700

Disclosures

No

Office Location

6300 Lamar Avenue
Mission, KS 66202-4200

Waddell & Reed by the Numbers

Total Assets Under Management

$21.2 billion

National Average: $3.3 billion
Total Number of Employees

1,700

National Average: 31
Total Number of Accounts

169,956

National Average: 1,935
Average Account Size

$124.8 thousand

National Average: $1.7 million

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Products and Services

Waddell & Reed offers a variety of financial services, which can consist of financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers and educational seminars. In the last financial year, it provided 5500 of its customers with financial planning services. It is involved in selling products or offering services apart from investment advice to its clients. The company also has a number of financial industry affiliations, including with a broker-dealer or securities dealer, trust company and insurance company or agency.

Core Advisor Services

  • Offered by 44% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 61% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

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    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 23% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Find a firm that offers this service

    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 10% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Fees for financial advice usually depend on which service is offered. However, fees billed by Waddell & Reed likely include some blend of the following fee structures: asset-based or fixed. The firm participates in a wrap fee program, in which the firm offers a service bundle for a comprehensive fee.

Available

  • Offered by 72% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 39% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 35% of firms that offer this fee type

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Find one of the 2% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 17% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 1% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 12% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

The company manages money for a broad range of clients. It works with retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities, corporations and other. Out of its 169,956 customers, Waddell & Reed's largest client is retail investors, but it also serves 1,056 high-net-worth individuals. A high-net-worth individual is defined by the SEC as someone who has at least $750,000 under management or a net worth of at least $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its customers are non-U.S. persons.

  • High-Net-Worth Individuals* - 0.62%
  • Other Individuals - 98.95%
  • Corporations - 0.36%
  • Charitable Organizations - 0.07%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Waddell & Reed does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Waddell & Reed

Thomas Kanyok
Mission, KS
Nicole Burdick
Bellingham, WA
Kara Jett
Mission, KS
Timothy Dugger
Wichita, KS
Jay Sellami
Mission, KS
Paul Foley
San Antonio, TX
Jonathan Graham
Minneapolis, MN
Lucas Van Zandt
Hamden, CT
Yuhui Chang
San Antonio, TX

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This content was compiled from the SEC and FINRA