waddell & reed

Founded in 1937 by Chauncey Waddell and Cameron Reed, Waddell & Reed was one of the oldest mutual fund companies in the United States. The company operated two primary divisions: a wealth management business with a nationwide network of financial advisors serving retail investors, and an asset management business under the brand Ivy Investments, which managed mutual funds and institutional accounts. In April 2021, the parent company was acquired by Macquarie Asset Management. As part of the deal, Macquarie sold Waddell & Reed's wealth management platform to LPL Financial. Following the acquisitions, the Waddell & Reed brand was officially retired.