A Brief History of Scottrade
Rodger Riney began our company more than 30 years ago with a focus on providing deep discounts along with customer satisfaction to the individual investor. Since then, we have dramatically grown our customer base because of our distinguishing combination of innovative online tools and branch services. Our commitment to excellence, customer service, and associate development has fostered our growth from one branch office in 1980 to now more than 500 branch offices across the U.S. with both domestic and international accounts.
Scottrade Office Locations
Our headquarters is located in St. Louis, Mo. We also have a secondary business operations center in Westminster, Colo., just outside Denver, a data center in Scottsdale, Ariz., and a trading support desk in Chicago, Ill. In approved situations, relocation assistance may be provided for full-time offers.
Top 10 Reasons to Work at Scottrade
- Stability of the Company
Founded in 1980, Scottrade has evolved into a leading, independent financial services firm.
- The Culture/Teamwork
Our family atmosphere and dedication to core values has 387 associates working at Scottrade for 10 years or more.
- Focus on Customer Service
Our brokers focus on giving great service, not earning high-pressure commissions.
- Work Environment
An active open door policy keeps our corporate culture successful.
- Growth Opportunities
With programs like The Learning Center, Management Training and more, you receive support and encouragement to excel at Scottrade.
- Reputation for Friendly People
Friendliness is a cornerstone of good customer service. So it’s easy to see why most of our associates consider each other friends.
- Competitive Pay and Bonuses
Scottrade offers a competitive base pay as well as discretionary semiannual bonuses.
- Professional Development (Training, etc.)
Our award-winning Learning and Development department designs, supports and delivers ongoing in-depth training for interns and associates, including a Customer Relationship Program and Advanced Broker Training.
- Rodger Riney
As one associate said after a presentation from our Founder & CEO, Rodger Riney, “Rodger struck me as the consummate Midwestern company president. ‘If you aren’t having fun, find somewhere else in the company where you can.’ That’s a great attitude.”
- Flexibility to Transfer Between Roles/Departments
Job shadowing and cross-training can prepare you for an internal transfer.
Scottrade has built its success on a foundation of “doing what’s right.” The company is dedicated to providing associates the opportunity to grow professionally, while maintaining a healthy balance of work and home life. This is done through fostering a culture of growth, integrity and diversity, where team members can communicate openly across any level of the organization. It is because of this culture that we are able to provide the best service and best value to our customers.
These five core values exemplify our dedication to our associates and our approach to business:
- Customer Service: Satisfying our customer is the foundation of everything we do. Whether working with each other or communicating with a client, we continually strive for a commitment to excellence.
- Individual Development: Our people are our most valuable resource. As we continue to grow, we remain dedicated to developing individual talents through innovative training and career growth opportunities.
- Teamwork: We rely on a strong commitment to teamwork to meet our common goal of providing the best value and best service to our customers.
- Trust & Integrity: We stand for honesty in every aspect of our business and empower our associates to do their job in an ethical manner. By doing this, we gain the confidence of our customers.
- Open Communication: We encourage the honest and frequent sharing of ideas, opinions and information across all levels of the organization.
Investing in the neighborhoods where our associates and clients live and work is an important part of how we do business. Our corporate philosophy is to support organizations our associates care about, so we can make a positive impact in a variety of ways and help create strong, vibrant communities.
What’s It Like to Work at Scottrade Headquarters?
In fact, many associates can recall times they were able to say “Hi” to Rodger when they’ve seen him in the hallways or at the monthly “Meet the President” gathering for new associates.
A Day in the Life at Headquarters
Scottrade associates find that working at Scottrade allows them plenty of opportunities for growth, unique benefits, plus a great work-life balance.
Career Growth Opportunities
Our associates take pride not only in our corporate culture, but also can be proud that they have access to an extensive list of educational programs. Because of these programs, year after year, we are able to fill a considerable portion of job openings from within. In 2010 alone, over 38% of job openings were filled by internal promotions.
Our hiring mantra of “Hire for Attitude, Train for Success” is evident in the programs we offer you for career growth that include: Advanced Broker Training, Presentation Skills, Microsoft Courses, Discount Brokerage 101 Courses and Lunch & Learns.
Living in St. Louis, Missouri
With a low cost of living and a wide range of world-renowned cultural institutions, sports and recreation, St. Louis offers a small-town feel with the excitement of big city options.
Here are some of the highlights of the city consistently ranked one of the best places to live:
- St. Louis’ world-famous Zoo, Art Museum, History Museum and the Science Center all cost nothing to visit and are set in the scenic Forest Park—one of the largest urban parks in the U.S.
- You probably have heard of these sports teams —St. Louis Cardinals, St. Louis Rams and St. Louis Blues.
- Sometimes known as the “20-minute City,” St. Louis is accessible and easy to get to wherever you are headed. St. Louisans average 20-minute work commutes—below the national average of 24.7 minutes.
Living in Denver, Colorado
Denver offers an enviable quality of life, where residents enjoy a high job growth rate, a low tax rate and a relaxed community feel with plenty to keep everyone busy.
Consistently ranked as one of the best places to live, Denver’s highlights include:
- Denver is ideal for outdoor enthusiasts, with 15 ski resorts within 100 miles of the city and approximately 300 days of sunshine per year, with temperatures ranging from 47 degrees to 88 degrees on average.
- Located among the Rocky Mountains, Denver is known as the Mile High City, but locals will tell you that you aren’t officially at 5,280 feet above sea level until you’re on the 13th step of the State Capitol building.
- The city is home to the Colorado Avalanche, Denver Broncos, Denver Nuggets and Colorado Rockies.
- Other attractions include the Botanic Gardens, Red Rock Amphitheatre, Denver Center for the Performing Arts and the Denver Art Museum. If that’s not enough, Denver also has the largest city park system in the nation, with more than 200 parks within city limits.
We established our bilingual services in 2001 to support our bilingual customers across the nation.
These services provide our international customers access to resources such as Scottrade’s Chinese website with Chinese-language trading tools, educational resources and webcasts, and Spanish-speaking brokers in our national service centers and several branch office locations.
Across the U.S., we have numerous bilingual branches to support our domestic and international customers.
What’s It Like to Work in IT at Scottrade?
A Day in the Life in IT
A Scottrade associate talks about the opportunities for growth he’s experienced since he started working at Scottrade ten years ago. The IT department is focused on servicing customers through system and data security, while developing and providing products with high distribution and reliability.
As a Scottrade IT associate, you provide customers with security solutions for systems and data, along with aiding in the development of highly utilized and reliable products. Our IT associates also work on enterprise solutions such as Intranet Portal and Siebel CRM.
- Websites and applications are developed in object oriented C#.net, C++, Java and Cobol.
- IT uses a Waterfall, incremental and agile methodologies, as well as Quality Center suite for testing.
What’s great about working in Scottrade’s IT department? Take for example our state-of-the-art technologies, a truly open department where communication and feedback is encouraged, along with countless opportunities to grow your career. On top of that, our IT department has been honored with:
- Top spots on the InformationWeek 500 List for four consecutive years for innovative use of information technology.
- Ranking as one of the top 100 Best Places to Work in IT by Computerworld for three consecutive years.
Our IT associates have numerous opportunities to grow their careers through cross-training, shadowing and our e-learning program called Scottrade U.
- Scottrade spends $3 million annually on training.
- The average Scottrade associate receives 80 training hours annually.
What’s It Like to Work at a Scottrade Branch?
A Day in the Life at a Branch
A Scottrade associate talks about why he loves working with customers in the branch, plus how he was able to transition into his current position with the help of Scottrade’s Human Resources department. In a recent survey, our headquarters associates ranked “growth opportunities” as one of the Top 5 reasons to work at Scottrade. Along with Scottrade’s career opportunities for internal promotions, we offer licensing programs and training catered to branch associates’ growth.
Top Reasons to Work at a Scottrade Branch
The success of our branch office associates is based on the level of service you provide, not what you sell. There is no “boiler room” atmosphere with cold calls or pushing clients toward products you don’t believe in.
- Every investor gets the same level of service, no matter how much or little they invest.
- With only one branch manager and one or two investment consultants and an intern, it’s an opportunity to get to know, and better serve, customers.
- Without complicated pricing structures, you can focus on providing investors with the answers and resources they need to invest, their way.
With Scottrade’s FINRA licensing program, you have:
- The cost of the license is paid for by Scottrade
- Encouragement to study at work as time permits
- Access to a staff licensing specialist
Along with Scottrade’s career opportunities for internal promotions, we offer licensing programs and training catered to branch associates’ growth including:
- Branch Associate Exchange Program
- Customer Relationship Program and Customer Relationship Strategies Training
- FINRA Licensing Program
We have several branch locations in the U.S. with associates who are fluent in Chinese and Spanish to support our bilingual customers.
Scottrade associates* are paid a competitive base salary with the eligibility of a semi-annual bonus, which is based on company profits and associate performance. To ensure Scottrade salaries are aligned with the market, our Compensation Committee reviews salary market data on an annual basis.
*Interns are not eligible for bonuses.
Scottrade offers medical benefits through a Preferred Provider Organization (PPO) with a nationwide network. While our plans offer in- and out-of-network benefits, our associates are able to choose a physician/facility from a select group of providers who offer quality health care at a reasonable cost. We offer a two-tiered plan to allow associates to pick the plan that best meets their family’s needs. A traditional plan offers a lower deductible in exchange for a higher per paycheck deduction while a Consumer Driven Health Plan (CDHP) offers a higher deductible in exchange for a lower per paycheck deduction. Both plans include prescription drug benefits through retail providers or mail order. With both plans associates may utilize Tax Advantaged Accounts which are discussed in the Tax Advantaged Accounts section below.
Discounts on Premiums
We offer discounts on medical premiums to associates as a way to encourage our associates to focus on their own health.
Non-tobacco users and associates actively engaged in a tobacco-use cessation program receive a monthly discount on their premiums.
Wellness Reimbursement Program
Eligible Scottrade associates have the opportunity to receive an annual Wellness Reimbursement benefit. The reimbursements cover expenses such as health club memberships, weight loss programs like Weight Watchers™, smoking cessation programs, fitness classes, licensed nutritionist fees, personal trainers and home gym equipment.
Corporate Gym and Health Club Memberships
Scottrade partners with wellness providers to offer associates discounted corporate rates. We currently partner with several fitness facilities to offer discounted gym memberships.
Scottrade is also partnered with Weight Watchers to provide Weight Watchers at Work meetings at our St. Louis, Mo. headquarters.
Scottrade offers dental insurance to associates and their dependents through a Preferred Provider Organization (PPO). Our provider offers the broadest nationwide network of dentists to our associates. Our dental plan is also a two-tiered plan to allow associates to pick the plan that best meets their needs.
Vision insurance is provided to all eligible full-time associates at no cost. You can also elect to cover eligible dependents. Our provider offers network access to private practice optometrists, ophthalmologists and retail chain providers across the nation.
Scottrade's 401(k) plan is designed to help associates prepare for the future. All regular full-time and part-time associates may contribute up to 50% of their pay (limits apply) into a traditional pre-tax 401(k) plan and/or a Roth 401(k) plan. Rollovers are accepted from former employers' qualified plans. A discretionary company match is offered based on the firm's performance.
Life and Accident Insurance
Eligible Scottrade associates have Basic Life and Accidental Death & Dismemberment Insurance (AD&D) at no cost. Non-management associates receive Basic Life insurance that covers one times your annual salary, up to $50,000. Management associates receive coverage equal to two times their annual salary up to $250,000. AD&D coverage will provide additional benefits in the event of an accidental death or dismemberment.
Supplemental Life Insurance is available to increase your coverage amount or cover your spouse/qualified domestic partner or eligible children.
You have income protection if disability or injury prevents you from working for a period of time. Eligible associates may receive both Short-Term Disability (STD) and Long-Term Disability (LTD) benefits in the amount of 60% of their pre-disability earnings. There are no additional premiums for you to pay; we absorb the cost of disability benefits.
Tax Advantaged Accounts
Eligible associates can participate in Tax Advantaged Accounts to pay for eligible out-of-pocket healthcare and dependent care expenses with pre-tax dollars. We offer three options: a Health Savings Account, Healthcare Flexible Spending Account and Dependent Care Flexible Spending Account. Associates who elect the Consumer Driven Health Plan can enroll in the Health Savings Account. Associates who enroll in the traditional medical plan or who waive medical coverage can elect the Healthcare Flexible Spending Account. The Dependent Care Flexible Spending Account is available despite which medical plan you elect. Similar to a savings account, you deposit pre-tax income into your Tax Advantaged Account(s). You can then use those funds to pay for eligible healthcare and dependent care costs, including:
- Medical deductibles
- Co-payments for medical, dental, vision and prescription expenses
- Chiropractor and acupuncture
- Eyeglasses and contact lenses
- Care for children under the age of 13
- Care for a physically or mentally disabled spouse or other dependent
Associate Assistance Program
Scottrade associates are immediately eligible for 24/7, free and confidential Associate Assistance Program benefits. You and your family have access to help with a wide range of personal matters, including:
- Stress and anxiety treatment
- Child care and elder care referrals
- Legal assistance
- Financial assistance
- Health coaching
- Crisis counseling
- Work-life resources
- Short-term counseling
Scottrade provides an Educational Assistance Program for associates who wish to pursue personal development and professional growth by furthering their education. Eligible associates receive reimbursement to cover the cost of tuition, fees and books. Eligible courses are those related to your job or necessary to obtain a Scottrade-appropriate degree.
Adoption Assistance Program
Eligible Scottrade associates can request reimbursement for the costs associated with the adoption of a single child or multiple children. The child(ren) must meet the eligibility standards set forth by our policy. The program typically reimburses for reasonable and necessary adoption costs such as court costs, attorney fees, travel expenses and other directly related adoption expenses.
Parking & Mass Transit Relief Program
All Scottrade associates are eligible for the Qualified Transportation Benefit Program (QTB). This benefit allows you to set aside pre-tax dollars to pay for parking and/or mass transit expenses. In addition to your pre-tax contributions, Scottrade will subsidize your parking and transit expenses.
Charitable Giving Program
Scottrade believes in giving back to our communities, and we encourage associates to do so as well. We believe in supporting the organizations that our associates support through monetary donations as well as volunteer work. Scottrade will match eligible monetary donations to qualified non-profit organizations and will make a financial donation to match the hours of volunteer work that our associates provide these organizations.
9 people found this helpful
- Comp & Benefits
- Work/Life Balance
- Senior Management
- Culture & Values
- Career Opportunities
I have been working at ScottradePros
My branch manager is an awesome guy that has helped me be a better broker and genuinely cares about my development. Pay has gotten better somewhat.Cons
Middle management generally useless and have no idea what goes on in the branch. Company now wants us to focus on selling the company and guidance solutions on top of all of the incoming calls and walk-ins. Everything that a client needs is effectively done by the branch. Everything you do has to be documented or it is assumed by your regional manger that you are doing nothing. Regional managers have nothing to offer other than complaints. Computers systems are very slow. We have to enhance our computer systems to match the growth in clientele. Everything done Halfway. If you spend time with a client without additional money to bring in, whether he has $500 or $5 mil it is essentially wasted time from the upper
Management standpoint. This is going to eventually lead to a lot of poor service and a loss of business. The support departments in STL have problems communicating with the branch. You can ask a yes or no question in an email and the answer will be "maybe". Support departments cannot contact the clientele without irritating them.Advice to ManagementAdvice
Figure out a way to maintain the morals of Scottrade and grow like Schwab or BAC. TD Ameritrade is not the stellar industry model you think it is. Consider a bonus on retaining assets.Approves of CEO
Getting an Interview
Getting an Interview
- Application Details
I applied online – interviewed at Scottrade.Interview Details
I interviewed prior to the change to the sales culture, so the interview was pretty easy. I think now it revolves more around sales experience and process. Expect to be asked the same questions, like Tell me about your self and past sales experience. I think now they make you take a personality test, called Sales Key.Interview Questions
Accepted OfferPositive ExperienceEasy Interview
- It was straight forward, nothing unexpected. Answer Question
Scottrade, Inc., a leading investing services company and subsidiary of Scottrade Financial Services, Inc., partners with more than three million retail clients to provide the trading services and investment solutions they need to overcome barriers to financial success. Founded in 1980, Scottrade pairs its large nationwide branch network with advanced online products and...
Mission: A leading investing services company founded in 1980, Scottrade’s mission is to improve lives by helping people overcome barriers to financial success. Through a large...