United States

Profile: Waddell & Reed Financial Inc (WDR.N)

WDR.N on New York Stock Exchange

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Waddell & Reed Financial, Inc., incorporated on December 24, 1981, is a holding company. The Company is a mutual fund and asset management company. The Company provides investment management, investment advisory, investment product underwriting, and distribution and shareholder services administration to Waddell & Reed Advisors group of mutual funds (the Advisors Funds), Ivy Funds, Ivy Funds Variable Insurance Portfolios (Ivy Funds VIP), InvestEd Portfolios and 529 college savings plan (collectively, the Funds), and the Ivy Global Investors Fund SICAV (the SICAV) and its Ivy Global Investors sub-funds (the IGI Funds), and institutional and separately managed accounts. The Company operates its business through a distribution network. Its retail products are distributed through third parties, such as other broker-dealers, registered investment advisors and various retirement platforms (collectively, the retail unaffiliated distribution channel) or through associated independent contractor financial advisors (the retail broker-dealer channel). The Company also markets its investment advisory services to institutional investors, either directly or through consultants (the Institutional channel).

The Company operates its investment advisory business through its subsidiary companies, primarily Waddell & Reed Investment Management Company (WRIMCO), an investment advisor for the Advisors Funds and Ivy Investment Management Company (IICO), the investment advisor for the Ivy Funds, Ivy Variable Insurance Portfolios (Ivy VIP), InvestEd, the IGI Funds, and Ivy NextShares exchange-traded managed funds (Ivy NextShares) and global distributor of the IGI Funds. The Company's underwriting and distribution business operates through two broker-dealers: Waddell & Reed, Inc. (W&R) and Ivy Distributors, Inc. (IDI). W&R is a broker-dealer and investment advisor that acts primarily as the national distributor and underwriter for shares of the Advisors Funds, InvestEd and other mutual funds, and as a distributor of variable annuities and other insurance products issued by its business partners. In addition, W&R is a distributor of the Ivy Funds. IDI is the distributor and underwriter for the Ivy Funds, Ivy VIP and Ivy Nextshares. In addition to performing investment management services for the Funds, it acts as an investment advisor for the IGI Funds, institutional and other private investors and it provides sub-advisory services to other investment companies.

Investment Management Products

The Company's mutual fund families offer a range of investment options. As of December 31, 2016, the Company was the underwriter and distributor of 90 registered open-end mutual fund portfolios in the Funds, which included 14 investment styles. In addition, the Company had one closed end offering, three Ivy NextShares exchange-traded managed funds and offered the IGI Funds through its institutional channel, as of December 31, 2016. The Advisors Funds, variable products offering Ivy VIP, and InvestEd are offered primarily through W&R financial advisors in the retail broker-dealer channel. The Ivy Funds are offered through both its retail unaffiliated distribution channel and retail broker-dealer channel. As of December 31, 2016, the Company launched the Ivy Targeted Return Bond fund, sub advised by Pictet Asset Management, and the Ivy California Municipal High Income fund. The Ivy Targeted Return Bond fund seeks to provide a positive total return over the long term across all market environments by investing in any form of debt security issued in the United States or internationally. The Ivy California Municipal High Income fund seeks a high level of income that is exempt from federal and California income taxes. As of December 31, 2016, the Company introduced three Ivy NextShares as part of a lineup of NextShares exchange-traded managed funds. Ivy Energy NextShares invests primarily in securities of companies within all aspects of the energy sector.

Other Products

The Company offers its retail broker-dealer channel clients a range of fee-based asset allocation products, including Managed Allocation Portfolio (MAP), MAP Plus, MAP Choice, MAP Flex, MAP Select, MAP Latitude and Strategic Portfolio Allocation (SPA). These products utilize a range of investment options, including mutual funds, as well as individual stock, bond and exchange traded fund investment options. In its retail broker-dealer channel, it distributes various business partners' variable annuity products, which offer Ivy VIP as an investment vehicle. It also offers its retail broker-dealer channel customers retirement and life insurance products underwritten by its business partners. Through its insurance agency subsidiary, W&R financial advisors also sell life insurance and disability products underwritten by various carriers.

Distribution Channels

The Company distributes its investment products through the retail unaffiliated distribution, retail broker-dealer and institutional channels. Its independent W&R advisors have sold investment products primarily to middle income and mass affluent individuals, families and businesses across the country in geographic markets of all sizes. It assists clients on a range of financial issues with a focus on helping them plan for long term investments, such as retirement and education, and offer one on one consultations. Through institutional channel, it manages assets in a range of investment styles for a range of institutions. Its range of client list also includes the IGI Funds, pension funds, Taft Hartley plans and endowments.

Company Address

Waddell & Reed Financial Inc

OVERLAND PARK   KS   66202-4200
P: +1913.2362000
F: +1913.2362010

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