Executives at Waddell & Reed Financial have a few billion reasons to smile. In fact, the firm reported that its assets under management broke $100 billion during the first quarter and reached $103.8 billion.

The Overland Park, KS-based firm today reported sales of $6.8 billion, representing a multi-year high, having only exceeded that level once, during the first quarter of 2008. Net inflows of $2.1 billion represent an annualized organic growth rate of nearly 9%.

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