Waddell & Reed Financial (WDR) Tops Q4 EPS by 1c

Waddell & Reed Financial, Inc. Announces the Retirement of Michael L. Avery

OVERLAND PARK, Kan.--(BUSINESS WIRE)-- Waddell & Reed Financial, Inc. (NYSE: WDR) announced that Michael L. Avery, 62, its president and co-portfolio manager of the Ivy Funds, Waddell & Reed Advisors Funds and Ivy Funds Variable Insurance Portfolios Asset Strategy portfolios, will retire effective June 30, 2016, following 35 years of service. Until his retirement date, Avery will assist in the transition of his responsibilities to others within the Company. Avery joined Waddell & Reed in 1981 and has served as co-portfolio manager of the Asset Strategy portfolios since 1997. Mike has been a steadfast colleague over the past three decades... More

Waddell & Reed Financial, Inc. Reports Fourth Quarter Results

OVERLAND PARK, Kan.--(BUSINESS WIRE)-- Waddell & Reed Financial, Inc. (NYSE: WDR) today reported fourth quarter 2015 net income of $62.9 million, or $0.76 per diluted share, compared to net income of $48.1 million, or $0.58 per diluted share, during the previous quarter and net income of $80.9 million, or $0.97 per diluted share, during the fourth quarter of 2014.

Operating income of $91.4 million declined 16% sequentially and 23% compared to the same quarter in 2014. Sequentially, operating revenues fell by 4% while expenses rose 1%. Compared to the same period last year, operating revenues declined by 9% and expenses declined 3%. The operating margin during the quarter was... More