Scottrade Reviews

Updated April 19, 2015
113 reviews filtered by
  • Any Location
  • Any Job Title
5.0
113 Reviews
Rating Trends
Recommend to a friend
Approve of CEO
Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
102 Ratings

113 Employee Reviews

Sort: Popular Rating Date
  1. Helpful (2)

    Great

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Scottrade

    Pros

    People a great place to work

    Cons

    none, i like it all

    Scottrade Response

    Apr 23, 2015Social Recruiting Team

    We appreciate your review and are happy to hear that you are satisfied with your employment at Scottrade.

  2. Helpful (9)

    Great Potential For Rewarding Career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Branch Manager
    Current Employee - Branch Manager

    I have been working at Scottrade full-time (More than 8 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    As a branch associate, you're going to get out of Scottrade what you put into it. If you are engaged, driven and coachable you're going to have an excellent career here.

    I feel like I am helping the company and our clients. The negative posts here are clearly written by associates who are focusing on the challenges and not seeing the possibilities. I wish I could inspire them to help, grow, change and develop themselves, be positive and assist this company.

    We have a vast amount of talented leadership in my division:

    Our DVP was the top in sales at his previous firm and adds a lot of value to our division because of his success and experience. He does a weekly sales coaching session and from the feedback I get from other branches most of their fundamental sales dialogue and processes developed over the past few years came directly from our DVP. He built a great foundation and continues to inspire us to hone in on our skills.

    Our new RM was one of the very best sales leaders at one of our main competitors. He has over ten years of sales management experience. He visits his branches often and works extremely hard to help each one of us succeed. I can already see a huge difference in the refinement of our conversations through call coaching and improvement in our sales process in the short amount of time he's worked with us. In addition, he gives each one of us leadership opportunities if we earn it.

    Goals and Targets are set by each branch associate. There are minimum targets but they are easy to accomplish if you make meeting your goals a priority.

    Branch Manager salary is competitive. If you can learn how to exceed your share of the firms service and sales objectives, you will be recognized and awarded with meaningful annual raises. I made 35% more last year in incentive pay alone. If I hit the targets I set for myself this year I will made 50% more. In addition, Scottrade just added a team component to our bonus which could add significantly more to our bonuses. It will motivate us to work harder and smarter. My compensation for 2015 will be the highest it's ever been - even higher than when I worked for a full service firm.

    Cons

    With so many branches and associates, some of our executive leaders in St Louis make decisions about associates in the field without knowing the complete picture. With such a lean management structure, our leaders often do not have the time to learn about and assist us with the challenges we face.

    The company needs to find the financial resources to upgrade all of the branches so we can have private spaces for more meaningful conversations with our clients and associates. We can't wait years, investing in private offices now will help us attract larger clients and retain our best employees. Currently I have on average ten appointments with clients a week out in the open. I need my own office to conduct these meetings effectively.

    Advice to Management

    Add another DVP and at least one more RM in every Division. This will allow them to do their jobs more effectively concentrating on a more manageable number of branch associates so the ICs get the coaching they need directly by the RMs.

    Place the RMs in their own regions. They need to be in the branches coaching and building relationships with their teams. This will ensure we get the best possible talent and give our existing employees a way to advance our careers without significant travel and relocating to St Louis.

    Reward top performing Branch Managers with additional titles, responsibilities and compensation to help spread positive coaching models to the region. This will give talented BOMs more leadership and coaching experience, give ICs more attention, build comraderie and fill our pipeline with more talent for the future.

    I really appreciate our guidance consultants and don't want to complain about current structure because I think it's what's right for right now, however the guidance process is not easy. As we are currently licensed we are very limited in what we can say. Working with a remote guidance consultant to help our clients is challenging. If this is going to be the way we are going to help our clients going forward, develop a dedicated team to travel to our branches and assist the RMs and coach us how to succeed with this model.

    Scottrade Response

    Apr 6, 2015Social Recruiting Team

    Thank you for taking the time to share your experience with us. We’re happy to hear you’re embracing the company’s growth and finding success in your career. We recognize the need for private meeting ... More

  3. Helpful (5)

    What Rodger asked all of us to do...

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Scottrade

    Pros

    Rodger asked us to help clients. Here are some things he asked us to do at the national manager meeting, on 2 national calls, and in person if you ask him:

    1. Rodger asks that we Proactively call clients (outbound dials) and ask them what they need HELP with.
    2. Rodger asks that When they tell us what they need, provide them HELP by offering a tool, education, assistance, or perhaps a meeting with our guidance group
    3. Rodger wants us to ask for HELP from leadership when we have questions, want to learn something new, and for guidance on pretty much anything.

    Cons

    Fear of telephones. We all have it. Many have chosen to ask for HELP and fix it. Others have created a multitude of excuses other than the truth to avoid doing the very work that truly HELPS clients.

    We can all fix it and make it easier if we ask for HELP. When we do this, we can HELP our clients. When we do both, we can HELP Scottrade win. Scottrade and Rodger need our HELP.

    Advice to Management

    Look at the sales report and take notice of managers that are refusing to work. Look at the outbound dial column and you will be in total shock to see that we have BOM's averaging less than 3 dials per day. Our competitors are averaging 40-50 dials per day. Are we okay with 3? Can we honestly say we are helping clients when we don't even call them? Can we honestly say we are doing what Rodger asked us to do when we don't call clients and HELP them? Can someone who is averaging 3 dials look Rodger in the face and honestly say they are HELPING clients? And when you look at these low effort managers, you will notice their brokers also have work ethic issues.. Should we do something about this?

    Scottrade Response

    Apr 15, 2015Social Recruiting Team

    Response for below: Thank you for your review. As you mentioned, everyone at Scottrade is dedicated to helping our clients meet their financial goals. We are happy to hear that this message has ... More

  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (4)

    Large company with a "small business" culture

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Branch Manager
    Former Employee - Branch Manager

    I worked at Scottrade full-time (More than 8 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The people (many good, solid, original employees from when the company was founded), the culture (executives are all down to earth and very easy to approach and talk to, and the business still has a small-business feel to it), and the founder/CEO Rodger Riney (He's a good man, with good intentions.)

    Cons

    Moving up is limited if you work in a branch, so you must work at headquarters to work your way up. Pretty typical of any corporation though. Within the last few years, the company begin hiring aggressively from major competitors to diversify the talent pool but this sort of backfired and the company lost several good, senior employees because of the "strategic" changes.

    Advice to Management

    Listen to your loyal employees, and keep doing whats right for them. Don't worry about changing pace just to catch up or keep up with competitors. That scottrade service and value will continue to grow the company at a pace thats right for everyone. And once again, LISTEN to your loyal employees first... otherwise you'll continue to lose those who truly value the company that Rodger built.

    Scottrade Response

    Apr 6, 2015Social Recruiting Team

    Thank you for your review. We appreciate your suggestions and are looking for better ways to listen to associate feedback and provide transparent communications.

  6. Helpful (6)

    Toxic 20%

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Branch Manager in Grand Rapids, MI
    Current Employee - Senior Branch Manager in Grand Rapids, MI

    I have been working at Scottrade full-time (More than 10 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Incredible Owner who truly cares (to a fault many times). Associates are Friends --not just associates. Over 80% truly care about each other,our advancement and care about our customers.

    Cons

    There is a very vocal 20% of our company that is unhappy with "selling" (I will call them the toxic 20%). If you listen to anything our owner says (for that matter most of those in leadership )--we are not "selling". We are truly helping our customers. Ask yourself these questions- is it good for our customers to trade away their life savings while we sit idle and don't at least offer an alternative? Have you taken the time to review accounts to see how the customer is actually doing on their own? No one has told me to get our there and sell --if there is someone in management that is telling you to "sell"- then tell a trusted branch manager and we will get it up the appropriate channels. Your Job is to help your customers overcome financial barriers - sometimes, they themselves, are their barrier- your job is to help them understand this. When the toxic 20% attack our management (who is only trying to help you)- it is like a dog biting its master. You are making it worse for everyone! These are people who care about you --so stop! It is not and never will be branches vs. home office --we can't survive if it is! Look deep inside and decide in the next few months -is this truly what I want to do? Do I like the stock market & helping people? I am calling out to all people like myself who care about this company to begin posting their beliefs. To the toxic 20%- You are important to me but please stop the insane negative posts --it is not even close to as bad as you are trying to make it sound and if it is then tell someone your concerns. I am far from perfect and need a great deal of skills but management has been extremely patient with me. If you are willing to work together, we all will get better!

    Advice to Management

    Don't be fooled by all the negative posts. We love this company --that is why we are still here! The vast majority of your employees have always cared about helping our customers and have for a very long time wished they could express concern when someone was consistently making poor decisions. I have worked here over 17 years and yes there is tremendous change - a company without change dies. Keep helping customers and believe in what you are doing. Tell the 20% you care about them and-- if need be -- you will help them with job placement and finding a career that will satisfy them (isn't that what life is truly about --it is not all about money- I promise you).

    Scottrade Response

    Mar 19, 2015Social Recruiting Team

    We appreciate you taking the time to share your thoughts and agree that there are many satisfied associates at Scottrade who may not be accurately represented on Glassdoor. However, we are taking the ... More

  7. Helpful (3)

    I LOVE this company!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous in Saint Louis, MO
    Current Employee - Anonymous in Saint Louis, MO

    I have been working at Scottrade full-time (More than a year)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    The benefits are awesome! Some of the benefits include:
    An excellent 401K match
    Profit sharing bonuses
    $250.00 wellness reimbursement
    5% interest on associates checking accounts
    Adoption assistance
    3 WEEKS VACATION STARTING YEAR 1
    Sick time
    Tuition reimbursement
    Life/work balance
    Medical/Dental/Vision benefits (with an HSA company contribution)
    Paid volunteer days
    Matching donations to charities
    The list goes on and on......

    I truly enjoy working for such a great company! Scottrade really goes out of their way to make this the best place to work. I feel as though management gives associates the tools they need to succeed. There is also lots of room for growth and advancement within the company. I couldn't imagine working anywhere else.

    Cons

    I can't think of any.....

    Advice to Management

    Please keep up the great work!

    Scottrade Response

    Mar 19, 2015Social Recruiting Team

    Thank you for your review, and we are happy to hear you have had an enjoyable work experience at Scottrade.

  8. New to Scottrade New Associate in a 2 person branch...have a few questions but prefer to ask anonymously.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Consultant
    Current Employee - Investment Consultant

    I have been working at Scottrade full-time (Less than a year)

    No opinion of CEO
    No opinion of CEO

    Pros

    Everything so far! Excited to have this opportunity!

    Cons

    None. I feel there is a lot to be learned and I like to be prepared. Unsure of how effective the web based training will be as I am a more hands on learner.

    Advice to Management

    I am not yet a licensed broker. I know there is web based training available. How much one on one guidance and coaching does the branch manager provide? I know there is training at HQ that I will attend, but, is that for all new associates or just when I become a licensed broker? How soon will I be able to attend training? Excited to learn and also see St. Louis!

    Scottrade Response

    Mar 19, 2015Social Recruiting Team

    Welcome to Scottrade! New Investment Consultants who are not licensed will go through a study program to better prepare them to pass the Series 7 and 63 exams. This program lasts 10 – 14 weeks and ... More

  9. Helpful (1)

    Great leadership, great team!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Contractor - IT Project Manager in Saint Louis, MO
    Current Contractor - IT Project Manager in Saint Louis, MO

    I have been working at Scottrade as a contractor (Less than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Working in IT, I have seen example after example of leadership removing roadblocks and paving the way for successful software development.

    In my role, I have a significant level of autonomy, and my management has made it clear that they are there to provide my team whatever it can to make our jobs easier.

    The entire IT organization takes great effort to celebrate success.

    Cons

    The company is in the middle of a cultural shift regarding software development. They are adopting industry best practices in many areas, but are holding on to antiquated methodologies for unknown reasons.

    Scottrade Response

    Feb 27, 2015Social Recruiting Team

    We appreciate your review and are happy to hear your time with Scottrade has been rewarding.

  10. Helpful (2)

    Great company to work for!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Software Developer in Saint Louis, MO
    Current Employee - Software Developer in Saint Louis, MO

    I have been working at Scottrade full-time (More than 5 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Enjoyed working in IT at Scottrade. Other team members were technically proficient and easy to work with, promoting a great work environment. Flexible hours and work from home opportunities provided a good work-life balance. Great benefits.

    Cons

    We were heavily reliant on third-party vendors, which could be difficult to interact with and made projects/troubleshooting very challenging sometimes.

    Advice to Management

    Continue to promote a strong corporate culture and stay focused on providing a great work environment for all employees.

    Scottrade Response

    Feb 23, 2015Social Recruiting Team

    We are happy to hear you have had an enjoyable experience at Scottrade and have taken advantage of the work/life balance we offer. We will pass along your feedback about third-party vendors to IT ... More

  11. Excellent place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Scottrade (More than 3 years)

    Positive Outlook
    Approves of CEO
    Positive Outlook
    Approves of CEO

    Pros

    The work life balance is excellent. Everyone is very respectful of personal time. Also coworkers are understanding if associates ever need to take time off.

    Cons

    Career mapping is somewhat poor at this firm. The attention paid to career success and promotions is sometimes less than desired.

    Scottrade Response

    Feb 23, 2015Social Recruiting Team

    We’re happy to hear you are enjoying the work/life balance Scottrade offers. We encourage you to discuss future career opportunities with your manager and/or Human Resources, who may be able to help ... More

Work at Scottrade? Share Your Experiences

Scottrade

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.