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Section 1: 8-K (8-K)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):

April 12, 2018

 

WADDELL & REED FINANCIAL, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

 

001-13913

 

51-0261715

(State or Other

 

(Commission

 

(IRS Employer

Jurisdiction of

 

File Number)

 

Identification No.)

Incorporation)

 

 

 

 

 

6300 Lamar Avenue

Overland Park, Kansas 66202

(Address of Principal Executive Offices) (Zip Code)

 

(913) 236-2000

(Registrant’s telephone number, including area code)

 


 

 

(Registrant’s Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company  o

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  o

 

 

 



 

ITEM 7.01                                  REGULATION FD DISCLOSURE.

 

On April 12, 2018, Waddell & Reed Financial, Inc. issued a press release announcing portfolio manager changes.  A copy of the press release is furnished as Exhibit 99.1 and incorporated herein by reference.

 

ITEM 9.01                                  FINANCIAL STATEMENTS AND EXHIBITS.

 

(d)                                 Exhibits.

 

Exhibit No.

 

Description

99.1

 

Press Release dated April 12, 2018

 

2



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

WADDELL & REED FINANCIAL, INC.

 

 

 

 

Date: April 13, 2018

By:

/s/ Benjamin R. Clouse

 

 

Senior Vice President and Chief Financial Officer

 

3


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Section 2: EX-99.1 (EX-99.1)

Exhibit 99.1

 

 

News Release

 

Investor Relations Contact:

Nicole Russell

Media Contact:

Roger Hoadley

 

VP, Investor Relations

 

VP, Communications

 

(913) 236-1880

 

(913)236-1993

 

Waddell & Reed Financial, Inc. Announces Portfolio Manager Changes

 

Overland Park, KS, Apr. 12, 2018 — Waddell & Reed Financial, Inc. (NYSE: WDR) today announced changes to responsibilities for certain portfolio management personnel, including separation of two portfolio managers.

 

Bradley M. Klapmeyer will assume the lead portfolio management responsibilities of the large cap growth product suite, with Daniel P. Becker(i) departing the company.  Klapmeyer is currently the co-manager of these assets and has been an integral member of the large cap growth product team since 2011.  Klapmeyer will continue to be supported by Assistant Portfolio Manager Gage T. Krieger, who has been with the firm for six years and a member of the large cap growth team since 2016.

 

“I am confident that Brad’s tenure as co-portfolio manager and his 18-year investment background have equipped him with the knowledge and experience needed to execute the strategy’s disciplined investment process and sustain and build upon its successful long-term track record,” said Philip J. Sanders, Chief Executive Officer and Chief Investment Officer of Waddell & Reed Financial, Inc.

 

Mark G. Beischel, Global Head of Fixed Income and a 20-year veteran of the company, along with Susan Regan, a portfolio manager with over 10 years of experience with the company, will on an interim basis assume the portfolio management responsibilities of Eric C. Perry(ii), who also has departed the company.

 

The company indicated neither portfolio manager departure was due to investment performance, fraud, misappropriation of company or client funds, violations of any securities or investment-related statutes, rules or regulations, or findings of workplace harassment.

 

“Our transition in recent years toward team-managed portfolios, our deep commitment to in-house research capabilities and our long standing culture of collaboration means we are well positioned to move forward with continuity.  As always, our focus remains on helping our clients achieve their financial goals, with a firm commitment to upholding our core values,” Sanders concluded.

 

About the Company

 

Through its subsidiaries, Waddell & Reed Financial, Inc. has provided investment management and financial planning services to clients throughout the United States since 1937. Today, we distribute our investment products through the unaffiliated distribution channel (encompassing broker/dealer, retirement, and registered investment advisors), our broker-dealer channel (through independent financial advisors), and our Institutional channel (including defined benefit plans, pension plans, endowments and subadvisory relationships). For more information, visit ir.waddell.com.

 

Investors should consider the investment objectives, risks, charges and expenses of a fund carefully before investing. For a prospectus, or if available, a summary prospectus, containing this and other information for any of the mutual funds managed by Ivy Investment Management Company, call your financial advisor or visit www.waddell.com or www.ivyinvestments.com. Please read the prospectus or summary prospectus carefully before investing.  Investment return and principal value will fluctuate, and it is possible to lose money by investing. Past performance is not a guarantee of future results.

 


(i) With Bradley M. Klapmeyer, Daniel P. Becker served as a co-portfolio manager for approximately $2.7 billion of separate account assets, as of March 31, 2018, and for the following mutual funds:  Ivy Large Cap Growth Fund; Ivy Focused Growth NextShares™; and Ivy VIP Growth Portfolio.

 

(ii) Eric (“Rick”) C. Perry served as portfolio manager or a co-portfolio manager for the following mutual funds:  Ivy Balanced Fund; Ivy Bond Fund; Ivy Crossover Credit Fund; Ivy Government Securities Fund; Ivy VIP Balanced Portfolio and Ivy VIP Bond Portfolio.

 


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