] parent buys again in the asset management space, it might be in fixed income, concentrated strategies, international, multi-asset, or "uncorrelated asset classes."
| Philip James Sanders|
Waddell & Reed, Inc.
CEO, Chief Investment Officer
So says Phil Sanders
, CEO and chief investment office of Ivy parent Waddell & Reed Financial, Inc.
. Sanders shared that tidbit and more this morning on the publicly traded broker-dealer's Q4 2018 earnings call with analysts (as transcribed by Seeking Alpha
). Sanders was responding to a question from Michael Cyprys
, executive director of equity research covering asset managers and discount brokers for Morgan Stanley
, who asked about "potential appetite for potential incremental acquisitions."
| Amy Jo Scupham|
Ivy Distributors, Inc.
Also on the call, Amy Scupham
, president of Ivy Distributors, explained the asset manager's 2018 sales leadership realignment to focus more on various professional buyer and institutional channels. Waddell chief financial officer Ben Clouse
, chief operating officer Brent Bloss
, and retail B-D president Shawn Mihal
also participated in the call.
Earlier this morning, the Waddell & Reed team reported
$0.60 in Q4 2018 earnings per diluted share, beating
expectations by $0.11. Yet Q4 revenue of $272.2 million missed expectations by $1.05 million. AUM fell 17 percent in the quarter and 19 percent year-over-year to $65.8 billion on December 31, 2018.
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