Waddell & Reed Financial, Inc.
), the Kansas based financial planner and investment manager,
recently entered into a partnership with
BOK Financial Corporation
) to enhance its existing client services. The collaboration will
help Waddell & Reed access the diverse trust solutions
offered by BOK Financial.
AFFIL MANAGERS (AMG): Free Stock Analysis
BOK FINL CORP (BOKF): Free Stock Analysis
GAMCO INVESTORS (GBL): Free Stock Analysis
WADDELL&REED -A (WDR): Free Stock Analysis
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According to the deal, approximately 130 trust administrative
officers of BOK Financial, with an average of 20 years of
experience in trust service, will lend their acumen to Waddell
& Reed's advisory services.
Waddell & Reed's clients will now enjoy additional objective
trust solutions benefits in the form of personal trusts,
charitable and philanthropic trust administration, special needs
trusts, court created trusts, account settlement and
administration, executor or co-executor management and probate
management. Therefore, the partnership is expected to strengthen
the company-client relationship.
We continue to see Waddell & Reed's consistent endeavors to
improve its advisory segment. Over the months, the company has
also invested in the advisory channel by providing its advisors
adequate training and equipping them with advanced technology.
Going forward, we expect such initiatives to drive growth in
revenues and assets under management (AUM).
Moreover, Waddell & Reed's third-quarter 2013 earnings
surpassed the Zacks Consensus Estimate. Results were driven by
top-line growth, partially offset by higher operating expenses.
Further, as of Sep 30, 2013, AUM totaled $113.7 billion, up 17.1%
from $94.8 billion as of Sep 30, 2012.
Currently, Waddell & Reed carries a Zacks Rank #1 (Strong
Buy) and BOK Financial carries a Zacks Rank #4 (Sell). Some
investment managers worth consideration include
GAMCO Investors, Inc.
Affiliated Managers Group Inc.
). While GAMCO Investors carry the same Zacks Rank as Waddell
& Reed, Affiliated Managers has a Zacks Rank #2 (Buy).