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Waddell & Reed, Inc., formed in 1937, is one of the most enduring broker/dealers in the United States. We offer advisors an environment which seeks to combine the philosophical and practice model flexibility of an independent model with the support and resource infrastructure of a full-service firm. Our independent contractor advisors are eligible for health insurance subsidy, licensing fee reimbursements, convention meetings / trips, advertising cost-sharing and other benefits. Office space in one of our division offices is provided at no cost; alternatively, qualifying advisors preferring to operate in their own space are eligible for office expense reimbursement. Other support includes wholesaling for all major product categories; a help desk staffed by experienced subject matter experts; and a full array of high quality marketing support and materials. As part of Waddell & Reed, Financial, Inc., our NYSE-traded parent company, we enjoy as sister organizations Waddell & Reed Investment Management Company and Ivy Investment Management Company, asset management enterprises that are recognized for their long history of providing competitive investment performance across a broad span of asset classes. Waddell & Reed advisors have direct access to the investment professionals at both of these organizations, thereby gaining and taking to their clients the investment insights of these leaders in the investment management industry. At the same time, Waddell & Reed advisors have access to a broad span of product beyond those managed internally. Our Classic advisors emphasize comprehensive financial planning and work in a direct-to-fund environment, utilizing funds offered by xx fund families; variable products underwritten by Nationwide Financial and the Minnesota Life Insurance Company; and a span of term, whole life, and other insurance offerings. Our Choice Advisors, utilizing the brokerage platform of Pershing, LLC, work in an open-architecture environment providing a comprehensive array of products and fee-based structures. Advisors from both operating environments can qualify for stock of our public company and enjoy compensation structures that we believe to be highly competitive within the practice model that they select, with payouts ranging from 60% to 90%. In a commoditized broker/dealer world, we believe we offer a uniquely flexible and supportive structure that provides advisors, and their clients, the opportunity to optimize their success. |