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History

Waddell & Reed has been serving the financial needs of families, individuals and businesses for more than 80 years. Here is a brief journey across the timeline of our growth.

1937

Two World War I veterans, Chauncey Waddell and Cameron Reed, form one of the first mutual fund and financial planning complexes in the country –Waddell & Reed, Inc., headquartered in Kansas City, Missouri. The two men shared an interest in finance and a belief that everyone, regardless of status or net worth, should be able to build a financial plan and take steps toward achieving long-term goals.

Founded in 1937

1940

Waddell & Reed Investment Management Company launches two of the first mutual funds in the industry under the United Funds name: the Accumulative Fund (now called the Waddell & Reed Advisors Accumulative Fund) and the Income Fund (now called the Waddell & Reed Advisors Core Investment Fund).

1950

Waddell & Reed Investment Management Company creates one of the nation’s first science and technology funds, known today as the Waddell & Reed Advisors Science and Technology Fund.

1959

Waddell & Reed’s assets under management reach more than $700 million with a sales force active in Latin America, Alaska, Hawaii and Puerto Rico. Two years later, Waddell & Reed’s assets under management would reach $1 billion.

1961

United Investors Life Insurance Company (“UILIC”) becomes a Waddell & Reed subsidiary, fulfilling a longstanding goal of the company’s founders to offer its customers high-quality insurance products and services.

1969

Following the retirement of Chauncey Waddell and Cameron Reed, Monte and Neil Wallace assume ownership of Waddell & Reed, Inc., establishing Continental Investment Corporation (“CIC”) as a vehicle to acquire the company and its affiliates.

1981

Liberty National Insurance Holding Company acquires CIC, assuming several valuable assets, which include Waddell & Reed, UILIC and a national sales force.

1985

Waddell & Reed’s assets under management reach the $5 billion mark.

1987

Waddell & Reed launches the W&R Target Portfolios, today known as Ivy Variable Insurance Portfolios (VIP). The portfolios provide underlying investments within annuities and variable universal life products. Today Ivy VIP comprise 20 funds, including domestic and international equity, fixed income and specialty categories.1

Targeted Funds

1998

Waddell & Reed Financial, Inc.’s initial public offering of Class A common stock begins trading on the New York Stock Exchange under the ticker symbol WDR.

2000

The United Group of Mutual Funds renamed Waddell & Reed Advisors Funds, available from Waddell & Reed financial advisors. Separately, Waddell & Reed Funds, Inc. changes its name to W&R Funds, Inc., available for sale by advisors affiliated with Waddell & Reed, as well as select third parties.

2001

Waddell & Reed launches the InvestEd 529 college savings plan. Today known as the Ivy InvestEd 529 Plan.2

Ivy InvestEd 529

Early 2003

Waddell & Reed acquires the investment advisor to the Ivy Funds from Mackenzie Investment Management Company, the U.S. investment management subsidiary of Toronto-based Mackenzie Financial Corporation.

July 1, 2003

Waddell & Reed officially launches the Ivy Funds family, today offering funds across all major asset classes.

Ivy Funds Launch

2005

Waddell & Reed becomes the title sponsor of the Waddell & Reed Kansas City Marathon, with Ivy Funds.

KC Marathon

2007

Waddell & Reed marks its 70th anniversary. The company partners with the USO to generate donations for 16,100 USO Care Packages for U.S. troops serving overseas. In addition, a customized “big rig” visits more than 70 cities nationwide that same year to further raise awareness and to encourage citizens to donate care packages, garnering a monetary equivalent of more than $400,000.

70th Anniversary

2011

Waddell & Reed launches a national tour – Honoring Our History – to mark its 75th anniversary in 2012 and to support the National World War I Museum as well as a variety of museums and cultural institutions around the country.

75th Anniversary

2013

Ivy becomes the first-ever jersey sponsor for Major League Soccer (MLS) team Sporting KC, helping to extend the awareness of the Ivy brand globally.

Ivy Sporting Jersey Sponsorship

2016

Reflecting progressive product offerings and a growing global presence, Ivy modernized its brand moniker and imagery, becoming Ivy Investments.

Ivy Funds is now Ivy Investments
Phil S

Every day the world changes. We have high expectations of ourselves, and a responsibility to our investors, to continually understand those changes and interpret the implications.

Chief Executive Officer | Chief Investment Officer