{ "media_type": "text", "post_content": "I am headed to Waddell and Reed tommorrow morning for an interview. Anyone have any advice or knowledge of there practices that can not be found on there website. Appreciate any information.", "post_id": "59af9fdb1e9872146e08df2f", "reply_count": 16, "vote_count": 5, "bowl_id": "599feb177c057d0010be0554", "bowl_name": "Financial Advisors" }

I am headed to Waddell and Reed tommorrow morning for an interview. Anyone have any advice or knowledge of there practices that can not be found on there website. Appreciate any information.

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Don't go to the interview. You don't want to work there.

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WR is a C class firm. Don't even bother.

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They're changing the entire pay grid starting next year, it'll be great as long as you're grossing $200k or more. But if you're not it's going to be hard to survive. A lot of positive recent changes in technology and growing pains to go along with it. If things go as planned they really may become the B/D of choice in the near future. Definitely a better culture than banks or wire houses.

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That bad? Why?

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@W&R1 thanks for the insight! Yeah I'm definitely looking for a good culture. Great to hear your optimistic perspective on the firms future too.

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Waddell seems to have some really nice people judging by this convo. How's the culture over there?

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It went well thanks for asking!

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I would say that one of the tougher questions was when they asked me how I would I would build my book of business - they really pushed me for specifics and questioned whether my ideas would actually work! But other than that I'm waiting to hear back!

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What state are you in?

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No problem, I hope it goes well either way!

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A lot more collaborative than would be expected since everyone is technically in competition with one another. Going forward more emphasis on teaming than in the past. The culture has always centered around planning and personal advising for all clients regardless of account size... Unfortunately some of that may change in the near future due to DOL changes and a greater focus on bringing in bigger producers from other firms. Time will tell.

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OP, I'm interested in hearing how your interview went?

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What state are you in?

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We just left W&R. The culture of years past is gone. The whole payout structure is changing and you're going to have to pay the company rent. So why not go truly independent and pick the office space yourself and get a better payout?

Waddell has changed a ton in the last 3 years and will off a good opportunity to take over older advisors practices and convert old A share proprietary mutual funds into more up to date portfolios. It's a good place to come to right now but hasn't been the best place to be the last 4 years.

I agree with that assessment, especially as someone that started 3-4 years ago.

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