Waddell & Reed Reviews | Glassdoor.co.uk

Waddell & Reed Reviews

Updated 4 Feb 2020

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3.0
41%
Recommend to a Friend
70%
Approve of CEO
Waddell & Reed CEO Philip Sanders
Philip Sanders
46 Ratings
Pros
  • "Waddell & Reed Mutual Funds are fantastic with great leadership at the flagship(in 25 reviews)

  • "Exposed me to investment advisory and financial planning(in 20 reviews)

Cons
  • "Also they don’t pay for any of your licensing, so until you’re(in 22 reviews)

  • "100% commission and it can be difficult to build your own book from scratch(in 17 reviews)

More Pros and Cons
  1. "Okay place to work"

    StarStarStarStarStar
    Former Employee - Workflow Operations Associate in Overland Park, KS

    I worked at Waddell & Reed full-time for less than a year

    Pros

    Good health insurance and benefits.

    Cons

    Some departments treat the workplace like a popularity contest. I thought high school was over.

    Waddell & Reed2020-02-04
  2. "W&R Overview"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Advisor Services Representative 
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I have been working at Waddell & Reed full-time for more than a year

    Pros

    Central location and friendly people

    Cons

    Unclear career path and low incentives

    Waddell & Reed2020-01-07
  3. "Waddell & Reed is evolving to meet the demands of clients in an ever changing marketplace and regulatory environment."

    StarStarStarStarStar
     

    I have been working at Waddell & Reed

    Pros

    You are in control of your schedule and destiny.

    Cons

    Minimum production requirements are difficult to achieve without a significant amount of marketing or an existing book of business.

    Continue reading
    Waddell & Reed2019-12-21
  4. "Great Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Consultant 
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Waddell & Reed full-time for more than 5 years

    Pros

    Flex time and remote work

    Cons

    No room to grow and advance

    Waddell & Reed2019-11-17
  5. "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Positive Outlook
    No Opinion of CEO

    I worked at Waddell & Reed

    Pros

    It is difficult to find a single positive. My manager was good, but there wasn’t another positive.

    Cons

    The most difficult place to do business I have ever worked. Fortunately it was a short period of times. Any longer and I would have lost more business. Every firm sends clients a lot of paper. Waddell will send them multiples of anyplace else. Their mutual fund portfolios are sad. The returns are barely average. You are NOT independent here regardless of what they present to you at the beginning. The office charges are expensive and above average. Everyplace nickels and dimes you, but they are the worst and their advisor affiliation fees are high. The office rent was increased and there is no recourse. I was waiting to get a bill for oxygen. The insurance partners like crump didn’t like doing business with Waddell. In fact the % was lower than I was paid at the firm before or after Waddell. This place is a dumpster fire. Do not do it. Mutual fund companies are dying and this one is as well. They will try to squeeze the life out of you to save them. Even more difficult is trying to get your client’s funds out. You cannot Acat like you can at other places. You can Acat the Pershing brokerage accounts, but not any of the managed money mutual fund accounts. Totally different process. Most places do not hold their funds since they don’t sell them. Which causes your clients unnecessary taxes for taxable accounts since you are forced to sell before transfer. They have high transaction charges for those sales. Overall they have no clue how run an independent broker dealer. They masquerade and really try to force you to sell their mutual funds and operate like they own you by severely limiting your clients investment choices. My new broker dealer is heaven in comparison.

    Continue reading
    Waddell & Reed2019-12-10
  6. "Bleak outlook"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Compliance Analyst 
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I have been working at Waddell & Reed full-time

    Pros

    Jeans, unlimited PTO, health insurance premiums

    Cons

    Company growth is non-existent, feels like middle level of management isn’t capable of turning around culture and thinking.

    Continue reading
    Waddell & Reed2019-11-12
  7. "Contact Center Team Lead Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Overland Park, KS
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I have been working at Waddell & Reed full-time for more than 5 years

    Pros

    Secure building (Required 5 words to submit)

    Cons

    Unprofessional, unhygienic, undereducated employees High stress environment Severely low paying Too many personal relationships amongst employees Micromanagement at its finest Parking No dedicated room for smokers

    Continue reading
    Waddell & Reed2019-10-28
  8. "Not for the faint of heart"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Overland Park, KS
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Waddell & Reed full-time for more than 5 years

    Pros

    Some people of very caring and professional

    Cons

    So many people have either been let go or left, the ones that are remaining will throw you under the bus, postering in meetings, and public humiliation is the thing to do when desperate.

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    Waddell & Reed2019-10-25
  9. "Good place to start in advising."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Financial Advisor 

    I worked at Waddell & Reed full-time for more than 5 years

    Pros

    Learned alot. Good people to work with

    Cons

    Not the best proprietory investment programs

    Waddell & Reed2019-10-05
  10. "Good company, growing mindset, slightly behind the 8 ball on technological advancements"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Overland Park, KS
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Waddell & Reed full-time for less than a year

    Pros

    Great opportunities for internal promotions, flexible work hours depending on position.

    Cons

    Technology not up to speed to some of the bigger brokerage firms, location move in flux

    Continue reading
    Waddell & Reed2019-08-28

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