What happened to Waddell and Reed?

What happened to Waddell and Reed?

(Nasdaq: LPLA) (the “Company”), the parent corporation of LPL Financial LLC, a leading platform provider and partner to financial advisors, today announced the closing of its acquisition of the wealth management business of Waddell & Reed Financial, Inc. (“Waddell & Reed”) from Macquarie Management Holdings, Inc.

Where is Waddell and Reed headquarters?

Shawnee Mission, Kansas, United States
Waddell & Reed/Headquarters

What kind of services does Waddell and Reed offer?

Waddell & Reed, Inc. (“WRI”) offers a variety of products and programs including mutual funds, annuities, life insurance, retirement platforms, and investment advisory programs both directly and through third parties.

Is Waddell and Reed being sold?

Macquarie Group Completes Acquisition of Waddell & Reed Financial, Inc. NEW YORK–(BUSINESS WIRE)–Macquarie Asset Management (MAM), the asset management division of Macquarie Group (ASX: MQG; ADR: MQBKY), today announced the completion of its acquisition of Waddell & Reed Financial, Inc.

Is Waddell and Reed a fiduciary?

As a fiduciary you also are responsible for things like recordkeeping, legislative review and plan administration. A financial advisor at Waddell & Reed understands the fiduciary responsibilities associated with your retirement plan and, importantly, can serve as a co-fiduciary, helping: Uncover and assess your needs.

Is Waddell and Reed now ivy?

Macquarie Group completes acquisition of Waddell & Reed Financial, Inc. Ivy Investments.

Who owns Waddell Reed?

Macquarie Asset Management Inc.
Waddell & Reed/Parent organizations

Who insures Waddell Reed?

Continental Investment Corporation of Boston
Continental Investment Corporation of Boston bought Waddell & Reed for $82.5 million in 1969. Liberty National Insurance Holding Company, later renamed Torchmark Corporation acquired it for $160 million in 1981.

How big is Waddell and Reed?

As of September 30, 2020, Waddell & Reed Financial, Inc.’s asset management business had $68 billion of assets under management and its wealth management business had assets under administration of $63 billion.

Is Waddell and Reed good?

Waddell & Reed is a fee-based financial advisor firm. The firm has one of the largest advisor pools in the U.S., as it is affiliated with over a thousand advisors. The Overland Park, Kansas-based firm’s client base is massive, with most of these clients being individuals with less than a high net worth.

Is Waddell & Reed a fiduciary?

Who does Waddell and Reed clear through?

Pershing LLC
Waddell & Reed, Inc. (“W&R”) introduces transactions on a fully disclosed basis to our clearing firm, Pershing LLC (“Pershing”) .

Where is Waddell and Reed going to be?

Waddell & Reed’s proposed downtown Kansas City headquarters figured prominently in ongoing debates about the propriety of tax incentives to attract businesses to Kansas City from elsewhere.

Is the Waddell and Reed Building in Kansas City?

The company also won’t occupy a new building currently under construction in downtown Kansas City, Missouri, according to a Macquarie Asset Management spokesperson. Macquarie Asset Management announced in December 2020 that it was acquiring Waddell & Reed f or $1.7 billion.

Is the Waddell and Reed Tower moving to Missouri?

The tower was one of the last projects allowed to proceed before Missouri and Kansas agreed to end the practice of granting generous tax breaks to induce companies to move across the state line. In 2019, after weeks of debate and pressure from Kansas City Public Schools, Waddell & Reed agreed to shave nearly $9 million from its original request.

What was the tax abatement for Waddell and Reed?

Missouri granted Waddell & Reed $62 million in incentives to relocate from Overland Park and the Kansas City Council approved a 75% tax abatement for the tower over six years followed by a 37.5 abatement over nine years.