Waddell & Reed is looking to move its headquarters to Missouri from Overland Park, Kansas, and expects to share an update on these plans by year-end.
“Over the past two years we have taken very deliberate and necessary steps to strengthen the foundation of our business,” according to CEO and Chief Investment Officer Phil Sanders.
If the financial firm — which includes a broker-dealer — chooses moves to St. Louis, it would join several large rivals now based there, like Wells Fargo Advisors, Edward Jones and Stifel.
“With the progress we have made over the last two years, we are now in a position to look at the next phase of our business transformation focused both on organic and inorganic growth,” Sanders explained. “As we look to the future, we must have a workplace environment that meets the needs of the workforce of tomorrow, enabling us to attract and retain top talent.”