|Senior Vice President,|
Director of Sales Support and Services
Vice President of Financial Planning
Waddell & Reed, Inc.
Overland Park, Kansas
|Waddell & Reed, Inc. offers mutual funds and comprehensive financial planning products to individuals and businesses, primarily through a diverse network of 2,400 financial advisors.|
|Offer a good experience|
Kansas-based Waddell & Reed, Inc. understands that a good client experience starts with a good advisor experience.
“We offer the best of both worlds—great infrastructure and independence,” explains Andy Mohn. He’s responsible for sales support at Waddell & Reed, home to the Ivy Funds and the Waddell & Reed Advisors Funds.
Deliver consistent service
While building a technology platform to support the advisor’s planning process, Waddell & Reed chose to integrate Morningstar® Advisor Workstation and Morningstar® Portfolio
Builder. “Morningstar provided Waddell & Reed the best opportunity to build out consistency across our planning toolset,” says Matt Reeves, who led the platform’s development.
|Tailor the analysis|
The platform’s side-by-side comparisons and scalable reports are a hit with the firm’s 2,400 entry-level-to-experienced advisors. “Morningstar gives the advisor the ability to keep analysis at a very high level, or drill as deep as the client wants,” describes Mohn. “It’s personal, flexible, and offers a very good client experience.”
Translate the value
Clients are connecting
with their advisors’ recommendations, as Waddell & Reed currently has one of the industry’s lowest redemption rates. “That’s partially attributable to the ability of our advisors to communicate the value of the portfolios they’re building,” says Reeves.
|“By using these tools, we’re doing a better job of building diversified portfolios—ultimately helping increase the likelihood of success for our clients,” explains Mohn. |