Client Privacy Policy

Last Modified:  June 30, 2020
Download Client Privacy Policy pdf here.

Facts

What does Waddell & Reed, Inc. ("WRI") do with your personal information?

Why?

Financial companies choose how they share your personal information.  Federal law gives consumers the right to limit some but not all sharing.  Federal law also requires us to tell you how we collect, share and protect your personal information.  Please read this notice carefully to understand what we do.

What?

The types of personal information we collect and share depend on the product or service you have with us.  The information can include:

  • Social Security Number and income,
  • Account balances, assets, investment experience, risk tolerance, and
  • Checking account information, credit scores, credit history, employment information and wire transfer instructions.

How?

All financial companies need to share customers’ personal information to conduct everyday business.  In the section below, we list the reasons financial companies can share their customers’ personal information, the reasons WRI chooses to share, and whether you can limit this sharing.

Reasons we can share your personal information

Does WRI share?

Can you limit this sharing?

For our everyday business purposes – such as to process your transactions, maintain your accounts, respond to court orders and legal investigations or report to credit bureaus

Yes

No

For our marketing purposes – to offer our products and services to you

Yes

No

For joint marketing with other financial companies

Yes

No

For our affiliates’ everyday business purposes – information about your transactions and experiences

Yes

No

For our affiliates everyday business purposes – information about your creditworthiness

No

We don’t share

For our affiliates to market to you

Yes

Yes

For nonaffiliates to market to you

No

We don’t share

To limit our sharing

  • Call us at 1(866) 937-0010 and a Customer Service Representative will assist you.
  • Mail in the opt out form.

Please note:  if you are a new customer, we can begin sharing your information 30 days from the date we sent this notice.  When you are no longer our customer, we continue to share your information as described in this notice.  However, you can contact us at any time to limit our sharing.

How does WRI protect my personal information?

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

How does WRI collect my personal information?

We collect your personal information, for example, when you:

  • Give us your contact information,
  • Seek advice about your investments, apply for insurance, direct us to buy or sell your securities, give us your financial information, tell us about your retirement or investment portfolio or earnings, or enter into an investment advisory contract,
  • Open an account, make deposits into or withdrawals from your account, make a wire transfer, fund your account with a check, instruct us where to send money, or show your government-issued ID.

We also collect your personal information from others, such as credit bureaus, our affiliates and other companies.

Why can’t I limit all sharing?

Federal law gives you the right to limit only:

  • Sharing for affiliates’ everyday business purposes – information about your creditworthiness,
  • Affiliates from using your information to market to you, and
  • Sharing for non-affiliates to market to you.

State laws and individual companies may give you additional rights to limit sharing.  See below for more on your rights under state law. 

What happens when I limit sharing for an account I hold jointly with someone else?

Your choices will apply to everyone on your account – unless you tell us otherwise.

Definitions

Affiliates: Companies related by common ownership or control.  They can be financial and nonfinancial companies.

  • Affiliates of WRI include nonfinancial companies, such as Waddell & Reed Financial, Inc. and Waddell & Reed Services Company, and financial companies, such as Fiduciary Trust Company of New Hampshire, W & R Insurance Agency, Inc., Unicon Agency, Inc., Ivy Distributors, Inc., and Ivy Investment Management Company.

Non-affiliates: Companies not related by common ownership or control.  They can be financial and non-financial companies.

  • WRI does not share with nonaffiliates so they can market to you.

Joint marketing: A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

  • Our joint marketing partners include banks and insurance companies.

Other important information

  • Financial advisors may end their association with WRI. The personal information collected by us and your financial advisor may be provided to the financial advisor’s new brokerage and/or investment advisory firm. The information that may be provided to the new firm is limited to your name, address, email address, telephone number and account title and is shared so your financial advisor can contact you.  If you do not want your financial advisor to provide this information to a new firm upon departure, please call 1 (866) 937-0010 to opt out of this sharing.
  • California and Vermont residents: we will not share information we collect about you with non-affiliates, except as permitted by applicable law, such as to process your transactions or to maintain your account.
  • Nevada Residents:  we are providing this notice to you pursuant to state law. Nevada law requires us to disclose that you may request to be placed on our internal “Do Not Call” list at any time by calling 1 (866) 937-0010 and that you may obtain further information by contacting the Nevada Attorney General by mail at 555 E. Washington Avenue, Suite 3900, Las Vegas, NV 89101, by telephone 1(702) 486-3131 or by email at BCPINFO@ag.state.nv.us.