WADDELL & REED FINANCIAL INC

Waddell & Reed Financial Inc. is an asset management and financial planning company that is headquartered out of Kansas. The company was founded in 1937 by Chauncey Waddell and Cameron Reed and was one of the first mutual fund and financial planning organizations in the country. Waddell & Reed Financial started with less than $125,000 in assets under management. Two of its introductory funds, the United Income Fund and United Accumulative Fund, were among the first mutual funds established within the United States. The company was acquired by the Continental Investment Corporation of Boston in 1969 for $82.5 million. Liberty National Insurance Holding Company would then acquire Waddell & Reed for $160 million in 1981. Seven years later, the company would have its IPO when Liberty National Insurance Holding Company, now Torchmark Corporation, would spin off the company in the exchange that for every 10 Torchmark shares, shareholders would also receive 3 shares of Waddell & Reed. The company utilizes a “conservative and consistent process that seeks to deliver competitive performance, while focusing on risk-adjusted returns and rigorous research and analysis” to conduct its business. Waddell & Reed Financial has an investment management team that is filled with experienced portfolio managers, analysts, and economics who work together to oversee the mutual fund lineup. Through the service that Waddell & Reed Financial provides, clients are able to have access to account solutions, cash management services, and market research data. The company also operates its business through subsidiary companies, notably the Waddell & Reed Investment Management Company and Ivy Investment Management Company. This allows the company to pool its resources and give clients the option to choose between Waddell & Reed Advisors Funds and Ivy Funds or a combination thereof. Notable mutual funds include its Asset Strategy Fund and Science and Technology Fund. Notable ETFs include the SPDR S&P Capital Markets ETF and Guggenheim Multi-Asset Income ETF.