You can redeem (sell) some or all of your fund shares at any time and receive the current net asset value, which may be more or less than the original cost. For Class B and C shares, the redemption may be subject to a sales charge. The sales charge, if any, will vary, based on the length of time that you have owned the shares.
There are several ways you can redeem or withdraw shares from your account.
Once you have registered for Waddell & Reed’s online account access you can manage your accounts through our website at your convenience. Refer to Online Account Features for additional information.
You can make redemptions by phone by speaking to a Client Services Representative at 1-888-923-3355 (WADDELL). Customer Service Representatives are available Monday through Friday 7:30 a.m. 7:00 p.m. CST.
You can redeem shares in your account by a request in writing, signed by all registered shareholders. In some instances, a signature guarantee may be required. The redemption will be effective the day we receive your request in good order by our home office. Also, any fund shares for which you have a certificate may be redeemed by mailing the properly endorsed fund certificates by insured or registered mail. Send your request to Client Services, PO Box 29217, Shawnee Mission, KS 66201-9217. Please do not mail cash.
Withdrawals by check-writing are available to Class A shares of Waddell & Reed Advisors Cash Management, Waddell & Reed Advisors Government Securities Fund, Ivy Money Market Fund and Ivy Limited-Term Bond Fund in non-retirement plans. Keep in mind:
- If you endorse a check on an unrestricted basis, it becomes the same as cash and anyone may be able to use it.
- Checks made payable to you should not be endorsed over to another party.
- It is best to endorse a check, such as a mutual fund redemption check, on a restricted basis (e.g., for deposit only to your account).
Waddell & Reed offers the option to receive redemptions via bank wire from your Waddell & Reed Advisors Cash Management or Ivy Money Market Fund (This service is not available for other Waddell & Reed Advisors Funds or Ivy Funds). All appropriate information regarding your bank institution/account must be provided at least 30 days prior to the first wire redemption request. Please note that wiring money is a two-day process, the redemption request is processed on the first day and transmitted to your bank account the next.
Mutual funds have a stated schedule for payment of dividends and capital gains. You can select to have applicable dividends and capital gains paid directly to you by check or automatically deposited to your local bank account.
Flexible Withdrawal Service
This service provides a convenient way for you to receive regular checks or money electronically deposited to your local bank account by redeeming (selling) shares. You can set up monthly, quarterly, semiannual or annual payments. You can have them sent to anyone, as designated by you.