Waddell & Reed Financial, Inc. provides investment products and services through its subsidiaries. One subsidiary, Waddell & Reed Investment Management Company (WRIMCO), is a registered investment adviser that provides investment management and advisory services to the Companys mutual funds, institutions and other private clients. Both WRIMCO and Austin, Calvert & Flavin, Inc. (ACF), an investment management subsidiary, manage investments for endowments, foundations, trusts, high-net-worth families and individuals and pension plans of corporations, hospitals, schools and labor unions. Another subsidiary, Waddell & Reed, Inc. (W&R), is a registered investment adviser and a registered broker-dealer that acts primarily as the national distributor and underwriter for shares of its mutual funds and the distributor of variable and other insurance products issued by Nationwide Life Insurance Company, a subsidiary of Nationwide Financial Services, Inc. (Nationwide), among others.