Organizations will often reach out via phone or email to set up an interview with you. Make sure to respond to interview requests within twenty-four hours. If you are having a phone interview with a company in a different time zone, make sure you are very clear about the time zone for the time you agreed upon. While you are at Reed, you have an interview with a company in New York. They want to meet with you at 9 a.m. m. , they likely mean 9 a. m. Eastern Time and 6 a. m. Pacific Time—make sure to confirm this with them.
Interviewing at Waddell & Reed can be an exciting yet daunting process. As one of the oldest and most reputable financial services firms in the United States, Waddell & Reed sets high standards for its employees Competition is fierce for openings at this prestigious company Thorough preparation and insight into the types of questions you may face can help you stand out from the crowd.
In this comprehensive guide, we’ll explore some of the most common Waddell & Reed interview questions asked across different roles. Whether you’re interviewing for an advisor, analyst, or corporate position, understanding the company’s priorities and core values is key to impressing hiring managers.
Overview of Waddell & Reed’s Hiring Process
The interview process at Waddell & Reed typically involves multiple rounds consisting of:
- An initial phone screening
- In-person interviews with HR and department heads
- Technical assessments to evaluate skills and aptitudes
- Panel interviews in some cases
Interview questions aim to assess both your technical abilities and cultural fit. As a relationship-driven firm, Waddell & Reed places high importance on finding candidates whose work ethic, communication style and values align with the company’s principles
Some key qualities recruiters look for include:
- Passion for finance/investments
- Strong analytical abilities
- Relationship-building skills
- Integrity and work ethic
- Entrepreneurial drive
While later rounds tend to get more technical, early interviews often focus on behavioral and situational questions to evaluate your soft skills.
Common Waddell & Reed Interview Questions and How to Answer Them
Let’s explore examples of the types of questions commonly asked, along with tips to help you craft winning responses:
Tell me about yourself and why you’re interested in this role.
This open-ended question is frequently used to kick off interviews It allows recruiters to learn about your background and assess your communication skills.
Tips for answering:
- Focus on experiences most relevant to the role
- Demonstrate your passion for finance and interest in the company
- Share key achievements that underscore your abilities
- Keep it concise and impactful
Sample response:
As a passionate financial advisor, I’m excited to join a firm with Waddell & Reed’s reputation for personalized client service and integrity. Over my 8 years in the industry, I’ve consistently demonstrated an ability to build deep client relationships and help individuals achieve their financial goals. For example, in my current role at XYZ Firm, I spearheaded a customer retention initiative that increased retention rates by 15% in under a year. Waddell & Reed’s commitment to always acting in the client’s best interest closely aligns with my own values. I’m eager to leverage my skills in developing customized financial plans to contribute to the firm’s mission. This role is an ideal next step to advance my career while making a positive impact on clients’ lives.
Why do you want to work for Waddell & Reed specifically?
This question evaluates your knowledge of and enthusiasm for the company. It’s crucial to demonstrate passion for Waddell & Reed’s mission and culture.
Tips for answering:
- Research the company thoroughly
- Discuss aspects of the firm that excite you
- Share how your skills would allow you to contribute
- Convey genuine interest in being part of the Waddell & Reed team
Sample response:
I’m extremely interested in working for Waddell & Reed because of the company’s long-standing commitment to personalized client experiences. The firm’s reputation for building trust and acting as a fiduciary on behalf of clients closely reflects my own approach as a financial advisor. I’m inspired by Waddell & Reed’s rich heritage and leadership in providing financial guidance to generations of families. Most importantly, the company’s values of integrity, accountability and discipline deeply resonate with me. I’m confident that my natural relationship-building abilities combined with a meticulous approach to developing financial plans make me a great match for furthering Waddell & Reed’s mission. I’m excited by the opportunity to collaborate with and learn from the industry’s top talent.
Why are you looking to leave your current position?
This question aims to uncover potential red flags about your previous job experience or commitment to a new employer. Answer thoughtfully and positively.
Tips for answering:
- Avoid criticizing past employers
- Share that you’re seeking greater challenges and growth opportunities
- Discuss why Waddell & Reed specifically is the ideal next step for you
- Convey energy and enthusiasm for the new role
Sample response:
I’ve learned a tremendous amount in my current position, but after 5 years I’m ready to take on greater responsibilities and leadership roles. Waddell & Reed offers exciting opportunities to join a preeminent firm where I can further develop my skills as a financial advisor. I’m attracted to the chance to build deep relationships with clients and offer them more comprehensive guidance. While my background has given me broad experience, I now want to become an expert in the specific methodologies that set Waddell & Reed apart. This role aligns perfectly with my passions and ambitions for the next stage of my career.
Tell me about a time you delivered excellent customer service. What was the situation and how did you handle it?
Waddell & Reed looks for advisors who build strong relationships and provide top-notch service. Use this question to demonstrate these critical abilities.
Tips for answering:
- Set up the situation and conflict briefly
- Share how you listened to the client’s needs with empathy
- Explain how you came up with a solution or went above-and-beyond
- Highlight how your actions made the client feel
Sample response:
I had a client who was unhappy with below-average returns on his retirement investment portfolio. He felt frustrated and was considering transferring funds to another firm. I listened closely to understand his concerns, then calmly explained recent market volatility and reassured him our team was constantly monitoring his investments. Rather than getting defensive, I thanked him for his feedback. I offered to review his account more thoroughly and get back to him with a detailed analysis.
Upon closer inspection, I realized his risk tolerance was misaligned with his portfolio’s makeup. I proposed revised asset allocation and explained how it better suited his goals. The client appreciated this diligent review and our transparent communication. He felt reassured that we were adapting our strategy to address his needs. He not only kept his investments with us but also referred several family members. This experience demonstrated the importance of responding to concerns with patience and understanding.
How do you go about understanding a new client’s financial situation, goals and challenges?
As a relationship-focused firm, Waddell & Reed seeks advisors who can engage clients and understand their unique needs. Use this question as an opportunity to demonstrate your listening skills and strategic planning process.
Tips for answering:
- Highlight the importance of one-on-one dialogue with new clients
- Share how you dig deep to understand their priorities and pain points
- Discuss tools or assessments you utilize to gain insights
- Explain how you turn insights into customized strategies
Sample response:
When starting a new client relationship, I take time to have in-depth, transparent conversations aimed at understanding their unique situation. This includes discussing their family, career, interests, financial history and goals for the future. I ask thoughtful questions and listen closely instead of jumping straight to recommendations. Often clients may not fully articulate specific problems without probing.
Once I grasp their priorities, I have clients complete risk assessment questionnaires to quantify their comfort with different investment strategies. I analyze their current income streams, assets, debts, insurance policies and tax situation to identify opportunities.
With all this information, I can develop a strategy tailored to the client’s short and long-term financial goals, while also addressing any pain points or challenges. The deep insights gleaned from introductory dialogues ensure the plans I create are aligned to each client’s aspirations and tolerance.
Tell me about a time you made an error. What was the situation and how did you handle it?
This question gauges your accountability, integrity and problem-solving abilities. The interviewer wants to see how you take responsibility for mistakes.
Tips for answering:
- Be transparent but don’t dwell on the error
- Share what you learned and changes you implemented after
- Emphasize how you strived to make things right for the client
Sample response:
Early in my career as a financial advisor, I made the mistake of recommending a risky investment portfolio to a client nearing retirement. While the investments carried potential for high returns, they were ultimately too volatile for the client’s low risk tolerance. When the value of these investments declined, the client was understandably upset.
I took full responsibility for this error in judgement. I apologized sincerely to the client and worked diligently to adjust the investments to more stable, fixed-income securities aligned to his age and goals. While the situation was difficult, it taught me an important lesson about thoroughly vetting all recommendations against a client’s time horizons and risk levels before moving forward. This experience improved my due diligence process prior to making investment recommendations to clients.
How do you stay up-to
Questions for you to ask
The questions you ask are just as important as the answers you give because they show the employer that you are interested, excited, and able to think of good questions. They also help you learn valuable information about whether or not a company is right for you. Keep these tips in mind when preparing the questions you want to ask:
- Your questions shouldn’t be things that are simple to find on the website or through research. Instead, think about questions that require a person’s perspective. For example, you shouldn’t ask about the company’s mission statement because it’s on the website. One thing you could do, though, is ask employees how the company’s mission statement affects their daily work. Only they would know.
- You can also tell a lot about your interests and goals by the questions you ask. When you ask about professional development opportunities for your employees, for example, it shows that you care about their growth.
- Also, make a list of the questions you need to ask to decide if a company is right for you. Do you need to know about the logistics, like how much travel is needed? Or do you want to know about the company culture, like how often employees get to collaborate across departments)?.
- It’s important to learn about important cultural and logistical issues, but make sure everything is right. As an example, you shouldn’t talk about pay during an interview; wait until you get a job offer.
- How has this organization changed over the years?
- What direction do you envision this organization going in?
- What is your goal for the person in this role?
- What is your main goal for next year?
- Which project from the past year are you most proud of?
- What is your day-to-day routine like?
- What are you most excited about doing every day?
- Could you tell me more about the project you’re working on now?
- What sort of training and professional development opportunities are provided?
- What are the primary concerns/goals of your customers/clients/constituents?
- What do you believe are the most important traits for someone to do well in this job?
- What do you want from this job in the first thirty days, sixty days, or year?
- What are the biggest challenges facing the company/department right now?
Day of the interview
Here are some tips to keep in mind the day of your interview:
- Show up twenty to thirty minutes early for the interview. If you’re driving or taking public transportation, check the traffic and give yourself extra time. Five to ten minutes before your interview, check into the office where you are going to be interviewed.
- Stay hydrated and use the restroom beforehand.
- There is still an interview going on while you are in the lobby or waiting room before the interview starts. Staff members may be around and can observe your behavior. Talk to everyone in a friendly and polite way, and show that you’re excited about the organization by reading the literature that’s out there and talking to people.
- Remember that you can take notes during an interview. Notepad or padfolio should be brought for this reason.
- When you meet someone, write down their name and job title so that you can get in touch with them later. Collect their business cards if possible.
- Make sure to ask questions during the interview. Most likely, you’ll have five to ten minutes to ask questions at the end of the interview. Make the most of that time.
- Also clarify the next steps before you leave. You can ask how long it will take to hear back about hiring decisions and anything else you need to know (for example, when they want somebody to start, etc. ).
The interview is not over after you are done meeting. You should follow up to show that you’re interested in the job and thank them for their time. Though it’s nice to send a thank-you card by hand if you can, the most important thing is to follow up in some way within 24 hours. If a card will not make it to the organization within twenty-four hours, follow up via email. Your note or email doesn’t need to be very long. Just thank the interviewers for their time, bring up something that was talked about in the interview, say how excited you are about the job, and say you look forward to hearing from them. Here is an example of an email you could send:
Note: If you interview with multiple people, send a follow-up to each person you meet with.
TOP 5 HARDEST INTERVIEW QUESTIONS & Top-Scoring ANSWERS!
FAQ
What are the behavioral questions for M&A interview?
How to answer tell me about yourself in an interview?
What is your personal beta?
What questions are asked at the Crown Estate interview?
