Founded in 1937, Waddell & Reed Inc. is one of the oldest mutual fund complexes in the United States. The company serves as principal underwriter and distributor to the Waddell & Reed Advisors Group of Mutual Funds, Ivy Funds Variable Insurance Portfolio Inc. and Waddell & Reed InvestEd Portfolios Inc. It is a part of the Waddell & Reed Financial Inc., as well as a distributor of its Ivy Funds. Waddell & Reed Financial Inc. provides investment management, investment product underwriting and distribution, as well as shareholder services.