Waddell & Reed, Inc. Goes Virtual with 2020 Vision Conference
June 11 2020 - 6:45AM
Business Wire
Affiliated advisors gather virtually for
education, updates, camaraderie – and raise more than $80,000 for
homeless veterans
Waddell & Reed, Inc. this month pivoted to leverage
technology-enabled solutions and create an interactive, virtual
annual conference for its national network of financial advisors.
The 2020 Vision conference featured nationally known speakers,
educational insight, practice development ideas, products/services
updates, live music and an opportunity for all to support a
national nonprofit, the Veterans Community Project.
“Unprecedented times call for extra effort and new approaches,
and it led us to a new way to bring advisors, field personnel and
home office staff together for an in-depth, two-day virtual
conference,” said Shawn Mihal, President of Waddell & Reed,
Inc. “Connectivity between advisors, home office and our strategic
partners, especially in the current environment, is of critical
importance and remains a strong part of our culture.”
Mihal noted that Vision and its predecessor conferences have
been a part of the Waddell & Reed culture for more than 50
years, and the team didn’t want to let this year’s plans for shared
content and experiences be slowed down. Home office staffers
collaborated, utilizing key vendors and high-level video, audio and
web technology to bring a unique, virtual event together. Elements
included general sessions, nationally known keynote speakers,
breakout sessions on a range of practice development and wealth
solutions issues, entertainment and virtual happy hours. Major
initiatives from Vision include:
Attendees contribute more than $80,000
to homeless veterans
2020 marked the inaugural year of Waddell & Reed’s Advisor
Philanthropic Committee, which each year will select a charitable
cause worthy of support during the annual conference. The committee
in January selected Veterans Community Project, a nonprofit
providing homeless veterans with a place to live, as well as
emotional support to address underlying causes of homelessness
while working to support health and wellness, education, employment
and financial literacy. Throughout the conference, attendees,
partners and home office staff were invited to contribute to the
cause: they responded with donations in excess of $80,000 across
the two-day conference. “Giving back and recognizing the need for
community engagement has been a part of our conferences for years.
This committee formalizes our commitment and gives us a way to
rally support each year going forward,” said Mihal.
Launch of High Net Worth suite of
products and services
Waddell & Reed introduced a High Net Worth suite of products
and services, designed to meet the needs of more affluent clients
and enabling affiliated advisors to offer a holistic, flexible
approach to complex financial situations. Through a partnership
with BNY Mellon | Pershing, the High Net Worth program
includes:
- Lending and liquidity solutions: Certificate of Deposit
Account Registry Services; and LoanAdvance™ flexible line of
credit.
- Private banking solutions through BNY Mellon | Pershing:
Investment credit line and jumbo mortgage solutions.
- Philanthropic and estate solutions: Charitable trust
administration; Donor Advised Funds; trust services through
partners including BNY Mellon | Pershing, Securian Trust Company,
Arden Trust Company and BOK Financial.
Separately Managed Account
(SMA) Strategies
New Separately Managed Account (SMA) Strategies,
in partnership with a range of institutional money managers, allow
affiliated advisors to offer the direct ownership structure,
transparency, tax strategy options and other benefits of SMAs to
clients who may benefit. “As we continue to adapt and expand our
product options, offering broad SMA strategies is a natural
extension, as they are highly adaptable and can be tailored to
address clients’ specific investment goals and preferences,” said
Matthew Reeves, Senior Vice President, Wealth Solutions for Waddell
& Reed, Inc. “SMA portfolios can be tailored to issues
including tax sensitivity, sector exposure or to reflect personal
values, and allows advisors to directly address client
preferences.”
Added ESG, tax-sensitive strategies to
Guided Investment Strategies advisory program
Further expanded the range of investment strategies available
through its Guided Investment Strategies, specifically to broaden
options with an environmental, social, governance (ESG) focus, as
well as several that supplement as tax-sensitive and
income-oriented portfolios. Guided Investment Strategies gives
advisors wide flexibility to meet differing investor needs with the
option of a range of 86 distinct investment models to choose from,
each individually managed by BlackRock, State Street Global
Advisors, Envestnet PMC or Wilshire Associates Incorporated.
Registration for the conference was on par if not higher than
typical live conferences. Virtual Vision had more than 1,500
registrants in total, including advisors, associates, assistants,
partners and home office registrations.
“Our goal with the virtual Vision conference was to maintain as
much connectivity and as many elements of our live conference as
possible,” added Reeves. “Engagement was high throughout the
sessions. We continually look for ways to enhance the advisor
experience, while expanding the products, services and
technological support that can help them grow their practices.
Several of our announcements, from product to practice to
philanthropy, were very well received.”
About Waddell & Reed
Founded in 1937, Waddell & Reed, Inc. is one of the oldest
financial planning firms in the U.S., providing total planning
services to clients throughout the United States through a network
of independent financial advisors. It is a subsidiary of Waddell
& Reed Financial, Inc. (NYSE: WDR).
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Roger Hoadley VP, Communications rhoadley@waddell.com
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