Waddell and Reed Financial Inc.

Public Company, Headquarters Location
PO Box 29217, Shawnee Mission, KS 66201-9217, United States
(888)923-3355, (913)236-2000, (913)236-2017 fax, http://www.waddell.com

Primary SIC: Security Brokers And Dealers, Primary NAICS: Securities Brokerage
Description: Waddell and Reed Financial Inc. was founded in 1937 and incorporated in the state of Delaware in 1981. The company is one of the oldest mutual fund complexes in the United States, having introduced the Waddell and Reed Advisors Group of Mutual Funds in 1940. The company launched its Ivy Funds in 2003 in an effort to expand distribution to third-party outlets. Waddell and Reed Financial derives its revenues primarily from providing investment management, investment product underwriting and distribution, and shareholder services administration to mutual funds and institutional and separately managed accounts. The company earns investment management fee revenues by providing investment advisory and management services pursuant to an investment management agreement with each fund within the Advisors Funds family, the Ivy Funds families, the Ivy Funds VIP family and InvestEd. Investment management fees are based on the amount of average assets under management and are affected by sales levels, financial market conditions, redemptions and the composition of assets. The company's underwriting and distribution revenues consist of commissions derived from sales of investment and insurance products, Rule 12b-1 asset-based service and distribution fees, distribution fees on certain variable products, fees earned on fee-based asset allocation products, and related advisory services. More

Finance: Investment advice and securities brokers.