March 24, 2017 7:29 AM ET

Capital Markets

Company Overview of Waddell & Reed, Inc.

Company Overview

Waddell & Reed, Inc. is a financial advisory firm that offers investment advisory and securities brokerage services. It also provides underwriting and mutual funds distribution services. Additionally, the company offers life insurance, annuities, medical plans, and disability income insurance solutions. Waddell & Reed, Inc. was founded in 1937 and is based in Overland Park, Kansas. Waddell & Reed, Inc. operates as a subsidiary of Waddell & Reed Financial Services, Inc.

6300 Lamar Avenue

Overland Park, KS 66202-4200

United States

Founded in 1937

Phone:

913-236-2000

Key Executives for Waddell & Reed, Inc.

Chief Executive Officer and Chief Investment Officer
Age: 57
Chairman of the Board and President
Age: 59
Chief Operating Officer
Age: 64
Chief Regulatory Officer, Chief Compliance Officer and Senior Vice President
Vice President and Director of Communications
Compensation as of Fiscal Year 2016.

Waddell & Reed, Inc. Key Developments

Waddell & Reed, Inc. Adds Mark J. Schlafly as Executive Vice President

Mark J. Schlafly has joined Waddell & Reed, Inc. as Executive Vice President, with primary responsibility for financial advisor acquisition strategy, leadership development, sales growth and sales support. Schlafly served as President and CEO of FSC for nearly three years, along with tenures at Russell Investments as a Managing Director, as Senior Vice President, Brokerage, at LPL, and as Vice President, Managed Products, at A.G. Edwards. He reports to Derek Burke, President of Waddell & Reed, Inc. In addition to advisor recruiting and leadership development, Schlafly will oversee the advisors resources and sales support desk, known as the Financial Advisors Sales Team (FAST), and have responsibility for the products group.

Top Rank, Inc. Files Federal Antitrust Lawsuit Seeking More Than $100 Million in Damages and an Injunction to Stop the Predatory Practices of Al Haymon and Waddell & Reed

Top Rank Inc. filed a federal antitrust lawsuit seeking more than $100 million in damages and an injunction to stop the predatory practices of concert promoter-turned-boxing manager Al Haymon and Waddell & Reed. The lawsuit, filed in U.S. District Court of Los Angeles by global law firm O'Melveny & Myers, details an expansive illegal scheme allegedly being perpetrated by Haymon and Waddell & Reed including: Simultaneously managing boxers and promoting fights in violation of the Muhammad Ali Boxing Reform Act passed by Congress in 2,000 to protect fighters; forbidding boxers under contract to Haymon from being promoted by Top Rank and other promoters; paying boxers not to spar with fighters promoted by Top Rank; refusing to permit boxers to fight others not controlled by Haymon; blocking Top Rank and other promoters from television opportunities; and preventing Top Rank and other promoters from access to major venues. Waddell & Reed has committed more than $400 million to these efforts and works closely with Haymon in executing the illegal plan.

Waddell & Reed, Inc. and Ivy Funds Distributor, Inc. Announces Executive Changes

Waddell & Reed Financial, Inc. announced that it has appointed Shawn M. Mihal as Senior Vice President, Chief Regulatory Officer (CRO) and Chief Compliance Officer (CCO) of its two broker-dealer subsidiaries, Waddell & Reed, Inc. and Ivy Funds Distributor, Inc. Mihal takes over for Terry L. Lister, who is retiring after 10 years as CRO and CCO with the firm. Mihal will oversee the compliance process for Waddell & Reed’s financial advisors sales channel as well as its Ivy Funds wholesaling activities. He will be involved at a senior level in compliance surveillance, the interpretation and application of various regulatory statutes and rules on both a federal and state level, and will provide advice and recommendations with regard to the design and implementation of compliance and risk management programs. Most recently he was Vice President and Chief Compliance Officer with Transamerica Financial Advisors, Inc., where he was responsible for all regulatory compliance functions, including sales practice/pre-litigation complaints, branch examinations, monitoring and surveillance, and investment advisory compliance.

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