Scottrade

www.scottrade.com
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3 people found this helpful  

I would not recommend that anyone work at Scottrade!

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

I worked at Scottrade full-time

Pros

The friends that I made while working there. It was a great place to work when I first started.

Cons

Poor Management. They do not display fair practices. They do not value good employees. If you have a complaint, nothing is done to resolve the issue. The issue is shoved under the rug as if it didn't happen. You will only go somewhere in this company if management likes you! The pay is so low for what you are asked to do!

Advice to ManagementAdvice

Management: I truly think that you need to reevaluate how you are rolling out this reorganization. It is not well thought out and it is done extremely unfair. I think that you need to take a look into HR and who is making the decisions. I disagree with the way things transpired and feel that many will and do feel the same. I took my issue of harassment and retaliation to upper management several times and Nothing was done! I was miserable as my boss harassed me daily making me feel inadequate and a poor performer! This is clearly NOT the case I assure you! She is a mean spirited and hateful person but upper management likes her so she will stay. If management likes you, you will have a job. This is the bottom line at Scottrade Corporate. I will not refer one person to work there. I don't regret the great friends that I met but will never forget how awful I was treated and nothing was done!

Doesn't Recommend
Negative Outlook
No opinion of CEO

534 Other Employee Reviews for Scottrade (View Most Recent)

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  1. 9 people found this helpful  

    Rapidly diving into mediocrity and obsolescence!

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

    I have been working at Scottrade full-time (more than 3 years)

    Pros

    Salary, work/life balance, benefits - but they're increasing premiums faster than pay increases.

    Cons

    Just about everything else! Inferior platforms, incompetent operations staff at HQ but when you pay 12-13/hr, you get what you pay for. Inferior services and everything involves paperwork. When my wife had an E-trade account before I became an employee, I requested a check online - I didn't have to call and speak with anyone. The bank is truly pathetic and the fact that each bank account is tied to a parent brokerage account, thus no transferability between multiple bank and brokerage accounts is so archaic it's just ridiculous. You will get tired of your clients belittling you and saying "so what do you do" after you tell them that you don't offer advice. If I had a penny for every time I heard that I'd be retired. How rewarding is that when you're mocked by your clients on a daily basis. If you like being sworn at and insulted and spending multiple hours per day helping 93 year-olds reset their passwords, then by all means Scottrade is the place for you.

    Advice to ManagementAdvice

    Get with the program and ditch the overly conservative legal counsel and management filling Roger's head with paranoid dribble. The "it's a business decision" garbage is getting really old. We have no excuse for being rapidly left behind by the competition and if you think you can continue to blame your branch personnel for the failing company, you're going to be left with subpar branch staff real quick. Put the Branch Admin department (which is a useless bureaucratic waste of a department anyway) in it's place.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 5 people found this helpful  

    A downward spiral

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

    I worked at Scottrade full-time (more than 5 years)

    Pros

    OK benefits, Rodger is a really nice guy who means well, work/life balance is good, and if you're lucky enough to have decent colleagues in your branch, it can be kind of fun sometimes. You can get really good at your job due to the fact that it is extremely repetitive.

    Cons

    Once upon a time, Scottrade had very few. Now, not so much. Bonuses are non-existent, and brokers are being pushed to sell with zero compensation. The simple features clients have literally screamed for, such as dividend reinvestment, are still not available. They came out with Portfolio Manager thinking it would save the company, but once again, this is a tool our competitors have had for a long time. The morale at HQ has turned to zero and the disconnect between them and the branches is absolutely horrific.

    Advice to ManagementAdvice

    Stop wasting money, pay your employees to sell, and do the right thing for those who work hard. Cut down the Branch Admin department and reward those who add to the bottom line.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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