Zacks Investment Research | Nov 13, 2018 08:39PM ET
Waddell & Reed Financial, Inc. (NYSE:WDR) has announced that it is undertaking a set of new initiatives to strengthen the broker-dealer business and enhance advisor experience. This is part of the company’s efforts to become more competitive within the industry.
The company’s president, Shawn Mihal stated, “While our legacy model served advisors and their clients well for decades, additional changes are needed today to enhance the way we compete in the current marketplace and position us for long-term growth.”
He added, “Advisors and clients are seeking broader product offerings for a range of differing needs, as well as simplified ways to conduct business. We’re responding by investing in solutions and products that allow advisors to more effectively work with their clients so they can best help them identify and pursue their long-term financial aspirations.”
Details of the Initiatives
Notably, Waddell & Reed’s continued investment in the Broker-Dealer channel by providing additional support to its advisors through training opportunities and enhanced technology tools will help boost revenues, inflows and assets under management in the future.
Shares of the company have gained 5.7% over the past year against 17.5% decline of the Original post
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