Establish your business
Switching firms is a milestone in your career. As you explore broker/dealers, settle for nothing less than a supportive environment that fosters enthusiasm for your practice and confidence in your clients’ satisfaction.
Meet your local leader
Your local leader is your primary point of contact as you explore, ask questions, get acquainted with Waddell & Reed, and move toward an affiliation decision.
Once affiliated, your leader will remain active and engaged. After all, your leader understands your business, the issues you face, your goals and the challenges of running a practice and will provide personal guidance and direction throughout the life of your practice.
Connect with the local leader for your area.
Find a Branch Office
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Define your practice setup
One-size does not fit all when it comes to how you run your business. Let your objectives for your practice and strengths as a business owner drive how you set up shop, while Waddell & Reed helps you manage the paper work and logistics.
Operate as a sole practitioner
Going solo appeals to the advisor who is eager to run his or her own show and is comfortable making decisions. You may choose the sole practitioner route if you:
- Want to control every decision from the investment products you offer to the events you host to the coffee brewed in your office
- Prefer to keep low overhead and run a lean and mean business
- Seek a flexible lifestyle
- Are not intimidated by being responsible for the full scope of work, from generating business to event planning to non-revenue-generating tasks
Join a team
Joining a team may be a strategically sound approach if you value enhanced support, shared expertise and collaboration. You maintain your independence while gaining benefits such as:
- Expanded client service
- Partnering with advisors of similar purpose, vision and goals
- Client retention
- Succession and transition planning
- Widening your sphere of influence
- Increased production potential
Waddell & Reed offers consultation, training, planning and ongoing support for advisors whose practice success strategy includes forming or joining a team.
Brand your business Waddell & Reed
Align with the Waddell & Reed brand and benefit from a name associated with more than 80 years of strength and stability. As a Waddell & Reed branded business, you have access to ready to use marketing materials, signage, social media content, letterhead, business cards, and other resources, all aligned with the firm look, logo and voice.
Do business as (DBA) your own brand
You may prefer the autonomy of operating under a different name and creating a visual brand identity that reflects the mission, goals and creative sensibilities of your business. As a DBA, you have access to the body of Waddell & Reed branded materials and can operate out of a Waddell & Reed office, if you choose. Waddell & Reed marketing professionals offer assistance in developing your brand name and look, creating business cards, letterhead, advertising or other custom materials.
Select your office location
You spend a lot of time in your office. Select a location and environment that aligns with your budget and practice goals, provides amenities that are meaningful to you, and is in proximity to colleagues and home.
Waddell & Reed office space
Join fellow Waddell & Reed advisors in a local Waddell & Reed office. Our all-inclusive leasing program offers a move-in ready office with a flat, monthly fee that includes furniture, secure network, telephone system, business equipment and more. Your local leader will provide office space options and rates for your area.
Personal branch office
Enjoy the freedom of choosing your office location and décor when you set up shop in a personal branch office (PBO). In a PBO, you can office on your own or with other advisors, brand your practice Waddell & Reed or do business as your own brand, lease or buy your space, and choose commercial, multi-tenant or residential space. To assist in locating and leasing your PBO, Waddell & Reed has partnered with the commercial real estate brokerage firm Cushman & Wakefield.
Transition seamlessly and smoothly
Making the decision to move firms and going through the process are two very different experiences.
Get seamless and comprehensive transition assistance that allows you to stay focused on your clients.
Our competitive transition program gives eligible candidates an opportunity to receive:
- Upfront forgivable loan
- Enhanced payout for first two years
- Rent and affiliation fee waived four months
- $25,000 ACAT transfer fee reimbursement budget
- $1,000 licensing budget
- On-site transition support
- Pre-affiliation training
A transition specialist will partner with you to coordinate resources, remove obstacles, answer questions and lead you through every step of the process, including:
Your transition specialist will coordinate the review of your business mix, existing contract, outside business activity or other special circumstances. Your specialist also will help navigate the timing of your resignation and affiliation and ensure compliance with Regulation S-P.
Transfer of licenses
Our licensing professionals will expedite the transfer of your registrations, ensuring the process complies with ever-changing FINRA and state policies and procedures.
Transfer of clients
To ensure a seamless transition for your clients, we provide approved client communications and transfer paperwork and handle the mailing to your clients. Our brokerage operations team steps in to trouble shoot issues and offer tips for transferring accounts.
Office set up
When it’s time to set up your office, you’ll receive assistance with location, furniture, supplies, electronics and communications.
Connecting with business development and sales support teams
Meet with our business development and sales support teams to map out sales and product strategies, identify opportunities to grow your business and learn about professional development programs.
Learn about the options available in the technology suite and train based on how and when you want to receive information.
Compensation and benefits overview
Your local leader will review and explain your compensation package and help ensure that you maximize your income potential.
Compensation & Incentives
Get rewarded for your meaningful work
The advisor community at Waddell & Reed shares common goals of growing their practices, doing meaningful work and helping clients be successful.
For these they work relentlessly and enjoy competitive payouts and incentives that recognize their accomplishments.
Our compensation grid features commissions up to 92%, based on total gross revenue.
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Guaranteed Payout Rates
First year advisors receive guaranteed Tier 4 rate of at least 75% for one year. Second through fourth year advisors also receive guaranteed rates.
Recognizing superior sales achievement, Crest is a week-long vacation for you and a guest. Past destinations include: Vienna, Beijing, Dublin, Paris, a Mediterranean cruise and Cabo San Lucas.
Chairman’s Cabinet is our most prestigious incentive program. It provides upgraded accommodations or a special feature at Crest exclusive to Chairman's Cabinet qualifiers.
Advisor Medalist Program
The top 250 advisors based on total gross revenue receive distinctive benefits including resources for business growth, professional development and to expedite business processes. Most significant is the Top Advisors’ Forum, a four-day visit to corporate headquarters for the top 75 advisors to share ideas with senior management, investment managers, subject matter experts and other successful advisors.
Financial Planning Council
The top eight financial advisors in annual financial planning fees are appointed to the Financial Planning Council. Members visit the home office to be recognized for their achievement and to meet with senior management to offer thoughts and ideas on our financial planning services and programs.
The top 12 advisors nationwide form the President’s Council. Each member of the council is invited to special meetings for team building, professional development and networking with executive management.
Seven C's Recognition Award
This award pays tribute to a financial advisor or field leader who consistently demonstrates the ideals called for in The Seven C's, a set of cultural principles that define who we are and underpin our business strategies. Candidates are nominated by their colleagues.