Waddell & Reed, Inc. completes expansion of national recruiting team, adding third regional director of advisor acquisition

Firm now covers the nation to attract experienced, successful advisors

OVERLAND PARK, Kan., Jan. 14, 2020 – Waddell & Reed, Inc. completed the strategic expansion of its national recruiting team with the hiring of a third advisor acquisition leader. Industry veteran Armand Alaverdian has been named regional director of advisor acquisition for the Western region. He brings more than 20 years of industry experience and 10 years of experience with Waddell & Reed, where he most recently served as market director for Southern California and Las Vegas.

The national recruiting team works closely with Waddell & Reed field leaders, the home office recruiting team and external recruiting firms to attract, build relationships with and, ultimately, add experienced financial advisors to Waddell & Reed’s national network from independent and employee-model firms. With competitive payouts up to 94% and an intentionally layered community of support, the firm provides its affiliated advisors with a full range of resources to transition, manage and grow their businesses.

“Armand brings direct knowledge of the industry and insightful perspective on what advisors need to succeed within an evolving landscape,” says David Call, vice president of advisor acquisition for Waddell & Reed, Inc. “We’re pleased that his talents will help our recruits understand Waddell & Reed’s distinction in the marketplace, while boosting our efforts nationally to add skilled advisors to our ranks.”

Alaverdian joins Steve Bielke, regional director of the Central region, and Mark Hovanic, regional director of the Eastern region, who were appointed during the fourth quarter of 2019. Combined, the three directors have more than 65 years of industry and advisor acquisition experience.

“The expansion of the national recruiting team aligns with the firm’s strategic commitment of growth through the ongoing acquisition of experienced financial advisors,” says Shawn Mihal, president of Waddell & Reed, Inc.

As part of a strategic effort to expand and enhance its recruiting resources, Waddell & Reed also has reinvigorated its focus on advisor retention by advancing support, service and overall experience for its existing national network of independent advisors. This evolution focuses on technology enhancements, product expansion, increased compensation and broadening support through programs such as the Great Practice Solutions customized practice development program and the Wealth Solutions Group, a team of credentialed product and sales support experts.

Founded in 1937, Waddell & Reed, Inc. provides financial planning services to clients throughout the United States through its network of financial advisors working in nearly 400 offices nationwide. Waddell & Reed, Inc. is a subsidiary of Waddell & Reed Financial, Inc. (NYSE: WDR), which had nearly $70 billion in total assets under management at Sept. 30, 2019. For more information about Waddell & Reed, visit

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