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Australian company completes acquisition of Waddell & Reed Copyright 2021 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. KSHB and last updated 2021-04-30 20:16:04-04 KANSAS CITY, Mo. — The Australian financial company that bought Kansas City-based Waddell & Reed announced Friday that it has completed the $1.7-billion acquisition. Macquarie Asset Management spun off Waddell & Reed’s wealth management platform to LPL Financial Holdings as part of the deal. With the addition of Waddell & Reed’s roughly $76 billion in assets under management, Macquarie becomes one of the 20 largest U.S. mutual fund managers. The move allows Macquarie to pair its signature mutual fund, Delaware Funds, with Waddell & Reed’s Ivy Funds.

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