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What is Waddell & Reed Financial?

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Quick Answer

Waddell & Reed Financial is a financial planning and asset management company founded in 1937 by Chauncey Waddell and Cameron Reed. Starting with only two mutual funds, the company now manages more than 80 funds and $135 billion in assets, as of 2015.

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Full Answer

Waddell & Reed has more than 400 offices throughout the United States and employs more than 1,800 financial advisers. Some offices are found in credit unions, banks or other financial institutions.

In 2014, the Advisors Fund offered by Waddell & Reed received the top ranking for the past 10-year period by Barron's. The firm's Ivy Fund received the No. 3 ranking.

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