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Waddell & Reed
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51 reviews

Waddell & Reed Employer Reviews

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  • Job Work/Life Balance
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This place is horrible
Trainee (Former Employee), CaJune 20, 2014
Pros: hmmm ?
Cons: where do i start?
I really learned nothing else from this job other than the fact that highly dishonest tactics are used to lure in new hires without really being called out for any of it at Waddell & Reed. The manager was a total liar where I worked and soon I realized the job was nothing more than a large hole to throw money into. Waddell & Reed throws absolutely zero – more... skin in the game to make you feel supported. You have to pay an awful lot to even breathe in the office it seems. Do yourself a favor and just stop even thinking about working here unless you like the idea of your pockets being emptied and dried. – less
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Steer Clear
Financial Advisor (Former Employee), San Diego, CAMay 29, 2014
Pros: the best mutual funds in the industry
Cons: no support, no training, no one to call with issues
ridiculous management structure, cut throat competitive and belligerent staff
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My favorite place to work
Annuity Processor (Former Employee), Overland Park, KSMay 21, 2014
Pros: family oriented and lots of activities, great management and very friendly work place
Cons: career advancement maybe a challenge
I only worked here for a year due to me being unable to move to a different position more suited for my goals but the overall atmosphere of the company is great. Everyone is really nice no matter your age, color or background. Most people are social and there are a lot of family activities throughout the year to participate in. I would love to work – more... here again if could only get a role more suited for my career. – less
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Natural market sales
Financial Advisor (Former Employee), Stockton, CAMay 20, 2014
Pros: own book of business
Cons: majority of financial advisors have to leave to find full time job.
Marketing to your natural market.
Effective sales proposals.
Management gives good advice.
co -workers tend to own book of business but usually are supportive.
To stay focused on marketing all day.
being own boss.
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Independent worklife
Intern (Former Employee), Pasadena, CAMay 7, 2014
While working at Waddell & Reed, I was mainly administrative support. I focused on scheduling appointments with our clients to meet with our financial representatives, processed and logged checks, collaborated with other interns to compile information for our clients' needs, and processed orders from our clients. I also reorganized our office's filing – more... system to make it more easily accessible, increasing efficiency of the workplace. – less
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Propriety Company
Financial Advisor (Former Employee), Yardley, PAApril 2, 2014
Pros: none that i can think of
Cons: proprietary
Not a flexible investment platform. Looks like they really dont want advisors but insurance sales people.
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Self employed
Financial Advisor (Former Employee), Pittsburgh, PAMarch 17, 2014
Pros: flexible schedule
Cons: ever increasing production requirements
Solicit clients from whatever source you could think of, i.e. cold, warm or hot calls. As well, face calls and referral sources to build business opportunities.

I enjoyed working with people that knew they needed help with their financial futures.
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Temporary
Administrative Assistant II (Former Employee), Shawnee Mission, KSFebruary 18, 2014
Pros: nice company to work for
Cons: long drive
Temporary position: Copy, Scan and Filing of client files.
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Missleading
Financial Adviser (Former Employee), Portland, ORFebruary 7, 2014
Pros: friendly
Cons: it was a con
Had me study for 3 months, pass all the tests and then tell me that I needed to start calling friends and family to get clients.
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Great team of professionals, also products, training
Administrative assistant - intern (Former Employee), San Mateo, CA 94404January 17, 2014
Pros: positive environment
Cons: could not just sell life insurance by itself.
I enjoyed working at Waddell because they were extremely supportive of growth, expansion, and compensating their agents well.

I interned there of seven months until the project was complete.

I worked/handled lartge volume of HAwaiian accounts. There I retained, expanded and sustained many of the clients. I am quite personable over the phone, and have – more... a passion for listening to others then consulting them/or advising them on what is beneficial to their needs.

The most difficult part of my job was finding the time to study for my licenses.

Feeling extrememly blessed and excited.

Warmly,

Denise Jolivette – less
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Great Culture of Comraderie
Financial Advisor (Current Employee), Joplin, MODecember 28, 2013
The position is 100% commission based, which has both its challenges and its benefits.

The company is very helpful in helping young advisors succeed.
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Typical Financial organization culture.
Financial Advisor/Independent Contractor (Former Employee), Plymouth, MNDecember 6, 2013
Pros: ability to help people with their biggest hopes and dreams.
Cons: pressure to sell people anything just to get there money.
Too much focus on making money off people instead of focusing on what should be focused on, which is helping people with their financial goals.
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Entree level advisors beware
Advisor Trainee (Former Employee), CaDecember 3, 2013
Pros: just the reputation of ivy funds
Cons: alot of everything, lack there of support, total cost to get yourself going and joke products.
I took this job because at the time I was without work just wanting to get my licenses. The manager at my firm was not truthful at all into the support and competitiveness of the products at Waddell & Reed Advisors. You will have to pay for every single thing possible, including but not limited to a very expensive licensing fee upon starting, yes you – more... pay them over $ 1,200 to just get your Series 66, Series 7 and to get your processing done with Finra and whatever other garbage they say they have to do to get you going. You will not get compensated back until some pretty convoluted left out details are met.You will have to pay for your Life Insurance license yourself. This fee apparently covers their "advanced" training program which is basically a once a week pow wow where you are constantly going back to base one because all the Managers care about doing is bringing in new unskilled talent, where you will be forced to hear the same 1st meeting with them over and over again. You will also quickly realize that their products ( pretty much mutual fund advising only) is not competitive with unreasonable industry high annual fees, their life insurance relationship is complete garbage with premiums that would never justify a recommendation as an advisor to a potential client. Life Insurance is the bread and butter for advisors and newsflash it is not just a cost of managing risk. They try to tell you that but Life Ins does much more than just that, apparently the managers there have never bothered learning about Cash Value and the tax deferred wrapper life insurance is widely used for..why? because they are not interested in that , they are interested in taking the money from prospects and putting it to their proprietary high fee funds. Ivy Funds is a good Mutual Fund company but don't let that confuse you. W&R Advisors is one of the worst poor excuses for an advising firm out there and I highly recommend not even stepping foot into the office. I am elsewhere, happy and am relieved to be gone. – less
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Revolving Door Sales Position
Financial Advisor (Former Employee), Yakima, WASeptember 22, 2013
Typical sales job. You either make it and become successful or you starve. After forking out nearly $1500 for all of the necessary licensing they throw you to the wolves with little to no help. Your first year you get $2000/mo. pretax while you are building your practice. This is practically poverty level and with all the time you invest it works out – more... to less than minimum wage. – less
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Great company in a cut-throat industry
Internship (Former Employee), Cincinnati, OHSeptember 19, 2013
Very tough to succeed, but W&R gives you all the tools. Must develop your own book of business, which is difficult. 9/10 fail, but those who make it do well.
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Interesting
Financial Advisor (Former Employee), Sacramento, CASeptember 11, 2013
Pros: flexible hours
Cons: management
Great Places to Obtains Licenses. Typical day at work was continuous prospecting to build a book of business from the ground up. Maintain current relationships with existing clients and build new ones.
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Wonderful place to work
Advisor Assistant (Former Employee), Campbell, CASeptember 5, 2013
I was an administrative assistant. Some of my duties included:

-Preparing financial paperwork
-Contacting clients
-Scheduling appointments
-Copying, Faxing, Scanning
-Organizing client appreciation events
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Financial Advisor
Financial Advisor (Current Employee), Hartford, CTSeptember 3, 2013
Pros: self employed
Cons: 100% commissions
Financial Advisor

Responsible for building client base and determining opportunities to improve client relationship. Responsible for gathering complete information about client's investment goals and objectives and according to that prepare a diversified investment plan using recommended products and developing plan and creating investment policy statements. – more... Advise clients with complex investment relationships on portfolio constructions and asset allocation for tactical and strategic decisions. Responsible for gathering complete information about client's financial goals and objectives and according to that prepare a comprehensive financial plan. Responsible for managing over $5M in assets. – less
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nice experience
Financial Planner (Former Employee), spokaneSeptember 2, 2013
very good company, people were great, always something to learn
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Intern
Financial Advisor Assistant (Current Employee), Yardley, PAAugust 20, 2013
Had a great overall experience.My adviser was extremely hands on and explained everything in great detail.

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About Waddell & Reed

Waddell & Reed, Inc. is a subsidiary of Waddell & Reed Financial, Inc. (NYSE:WDR). Waddell & Reed Financial, Inc., – Read more