Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A Midwestern B-D Shifts to Email Routing List Email & Route  Print Print
Wednesday, December 6, 2017

A Midwestern B-D Shifts to "More Open Architecture"

News summary by MFWire's editors

A Midwestern broker-dealer with a proprietary mutual fund firm sibling is shifting its investment platform in a way that fundsters should pay attention to.

Waddell & Reed, Inc., the independent B-D arm of Waddell & Reed Financial, is "moving toward a more open architecture" approach to its platform, Financial Planning reports. That approach translates into the B-D's FAs gaining access to more mutual fund choices from outside fund shops.

The platform changes at WRI come during "a period of unprecedented change" for Waddell & Reed Financial, unnamed sources tell FP. Indeed, two weeks ago WRF CEO Phil Sanders revealed the promotion of Nikki Newton to president of Ivy Distributors, Inc. (WRF's distribution arm for its own proprietary mutual funds) and the promotion of Shawn Mihal to president of WRI, both to succeed the departing Tom Butch. Then last week Sander confirmed that WRF chairman and former CEO Henry Herrmann will retire next spring, passing the chairman spot to Sanders.

In addition to WRI's new leadership and expanded investment platform, FP describes other changes at the indie B-D, including higher FA payouts and overall cost and headcount reductions. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use