Waddell & Reed

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Jun 10, 2005 2:35 pm

Can someone please rate Waddell and Reed for me.  Pros/Cons Vs. RJA/AGE/JONES

Jun 10, 2005 2:48 pm

Do an internet search for "Waddell & Reed" and "Stephen Sawtelle".

Jun 10, 2005 2:59 pm

Of the three, the opinions I have heard would favor AGE.

Mar 11, 2015 6:36 pm

What is AGE?

I am interviewing with W&R on Monday. Trying to find out everything I can.

I'm doing forum searches but most of the stuff isn't turning up the information I need

May 31, 2015 1:12 am

David,
Did you still wish for additional information on W&R - what happened during with the interview?

Jun 4, 2015 10:27 am

I believe AGE is A.G. Edwards, it appears the original post was made in 2005, before AGE was purchased by Wachovia which was subsequently purchased by Wells Fargo. In today's world AGE is Wells Fargo Advisors.
Coincidentally, I started by career at WFA, missed my 4th qtr hurdle, and moved to Waddell & Reed. My advice: Run away. If you have an option for any other firms, I would consider them first. I didn't realize my mistake until it was too late. At W&R, you will be a Ivy/W&R fund salesman. They make it extremely difficult to work with outside investments, unless you qualify for the Choice Platform. And even that platform is limited. Additionally, they nickel-and-dime you for all sorts of things; technology fees for shitty technology (no CRM software included, mind you), E&O insurance (not uncommon at a true independent, which W&R is not), ticket charges for trading non-proprietary funds (yep, both you and your client get charged)...the list goes on. Now they charge us to use LinkedIn, at least if you want to actually be able to list W&R as your employer.
I would currently add that there is toxic corp culture. Business processing can be a nightmare.
To be fair, very recently there has been word from upper management that they are going to address many of the firm's issues within the next 18 months. For me, it is too little, too late.
I have been looking for a new home. It's been a slow, tedious process. But I don't plan on making another mistake.
Feel free to PM me if you'd like more details; I've probably said too much on here already.

Jun 4, 2015 10:27 am

I believe AGE is A.G. Edwards, it appears the original post was made in 2005, before AGE was purchased by Wachovia which was subsequently purchased by Wells Fargo. In today's world AGE is Wells Fargo Advisors.
Coincidentally, I started by career at WFA, missed my 4th qtr hurdle, and moved to Waddell & Reed. My advice: Run away. If you have an option for any other firms, I would consider them first. I didn't realize my mistake until it was too late. At W&R, you will be a Ivy/W&R fund salesman. They make it extremely difficult to work with outside investments, unless you qualify for the Choice Platform. And even that platform is limited. Additionally, they nickel-and-dime you for all sorts of things; technology fees for shitty technology (no CRM software included, mind you), E&O insurance (not uncommon at a true independent, which W&R is not), ticket charges for trading non-proprietary funds (yep, both you and your client get charged)...the list goes on. Now they charge us to use LinkedIn, at least if you want to actually be able to list W&R as your employer.
I would currently add that there is toxic corp culture. Business processing can be a nightmare.
To be fair, very recently there has been word from upper management that they are going to address many of the firm's issues within the next 18 months. For me, it is too little, too late.
I have been looking for a new home. It's been a slow, tedious process. But I don't plan on making another mistake.
Feel free to PM me if you'd like more details; I've probably said too much on here already.