October 31, 2012 / 11:26 AM / 5 years ago

Waddell & Reed 3rd-qtr profit rises, sells Legend

Oct 31 (Reuters) - Waddell & Reed Financial Inc reported a higher third-quarter profit, and the asset manager agreed to sell its Legend investment unit to First Allied Holdings Inc.

The company's net income from continuing operations of rose to $52.1 million, or 61 cents per share, from $39.4 million, or 46 cents per share, a year ago.

Total operating revenue was up 5 percent to $293.4 million.

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