Scottrade Reviews

Updated January 27, 2015
9 reviews filtered by
  • Los Angeles, CA Area
  • Any Job Title
3.9
9 Reviews
Rating Trends
Recommend to a friend
Approve of CEO
Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
7 Ratings

9 Employee Reviews

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  1. Helpful (2)

    Scottrade and the embodiment of its culture is still alive today.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Intern - Branch Intern in Orange, CA
    Current Intern - Branch Intern in Orange, CA

    I have been working at Scottrade as an intern (More than a year)

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    Great culture, great people, and very reliable.

    Cons

    Not too much room for growth and the pay isn't great.

    Advice to Management

    Pay your employees more.

    Scottrade Response

    Jan 30, 2015Social Recruiting Team

    Thank you for taking the time to write a review. We will share your suggestions with the appropriate people and hope you enjoy the rest of your time with Scottrade.

  2. I worked at City of Cerritos, CA part-time for more than a year

    Current Employee - Customer Service Representative in Cerritos, CA
    Current Employee - Customer Service Representative in Cerritos, CA

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

    Pros

    Lots of opportunities across the department to become involved in. Pretty clear and easy line of communication regarding any possible concerns. Management has changed for the better recently

    Cons

    Working for the City of Alexandria can be tough to get your foot in the door as often the majority of hires are actually re hires but they have to go through the "hiring process." Unfortunately you'll never know what is going on until you receive an email months down the road.
    Advice to Senior Management – Be up front about rehires

    Advice to Management

    I would recommend this company to a friend

  3. It was a chill place to work at. Learning everything quickly while servicing clients is hard.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Branch Intern in Pasadena, CA
    Former Employee - Branch Intern in Pasadena, CA

    I worked at Scottrade part-time (Less than a year)

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    They do everything they can to workout with you. They are very lenient

    Cons

    The manager is constantly looking over your shoulder as he should.

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  5. Great Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Intern - Intern in Los Angeles, CA
    Former Intern - Intern in Los Angeles, CA

    I worked at Scottrade as an intern (More than a year)

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

    Pros

    Nice and knowledgeable co-workers.
    Good benefits.
    The company provides in dept training.

    Cons

    Limit room for growth in local branch office.
    Same work almost everyday.

    Advice to Management

    The branch manager should have made some decision independently.

  6. Helpful (6)

    Great for those looking for an easy restful career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Stockbroker in Los Angeles, CA
    Current Employee - Stockbroker in Los Angeles, CA

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

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Not a heavy work load
    Low Expectations
    Never was forced to work over 40 hours in a week
    No micromanagement from district managers
    Friendly co-workers
    Rodger is awesome

    Cons

    - Currently being asked to sell with a flat salary and zero incentives to work
    - Your career will be stuck in neutral when you rise to branch manager so don't expect to get rich or have an executive title unless you are willing to move to St. Louis.
    - Scottrade attracts a ton of novice and less wealthy investors. Expect to explain the very basic fundamentals to $500 account holders daily.
    - You may work in an office of less than 4 people so your day relies heavily on a small number of people.
    - Scottrade prides itself on promoting from within, which is pretty cool but it creates a whole mess of underqualified mid-level managers. The backgrounds of the management is very "humble" compared to that of competitors.
    - There are a ton of arbitrary daily tasks that must be completed that add no value to the branch and could easily be eliminated or automated. Tons. This includes Compass calls which, once again, make no impact on paychecks. On a positive, I believe this will be changing.

    Advice to Management

    Just because the market is bad for financial services does not mean you need to ditch your values for short term profits. Customer service will win out in the long term so stop sweeping it under the rug to be like everyone else. If Scottrade changes to be like it's competitors then it has lost it's differentiation. Investors come to Scottrade for cheap trades, local branches, and the avoidance of pushy sales people. Add the pushy sales people, and you have much less to brag about. I doubt you would not consider it, but if you wanna be taken seriously, drop the word "trade" from your name. It devalues a solid brand and will keep the big money away. Raise the account minimum to $2000. One last point, when you start compensating based on sales targets, I expect you be willing to open your pockets. Top sales people industry wide make in the multiple hundreds of thousands. Even if you do not go that high, a 45k base with the "opportunity" to finish with another 15k in commission bonuses is less than appealing. Despite my complaints, I do enjoy working here.

  7. No Growth

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Intern - Broker Intern in San Gabriel, CA
    Former Intern - Broker Intern in San Gabriel, CA

    I worked at Scottrade as an intern (Less than a year)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Flexible environment.
    The manager is extremely nice.

    Cons

    No room to grow once you reach a certain stage.

    Advice to Management

    Be more proactive

  8. Branch intern

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Intern - Intern in Palmdale, CA
    Current Intern - Intern in Palmdale, CA

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

    Recommends
    Neutral Outlook
    Disapproves of CEO
    Recommends
    Neutral Outlook
    Disapproves of CEO

    Pros

    can be a very good work environment since it is an office setting and you can enjoy a great work/life balance if you have the right team.

    Cons

    dont get a change to learn much about placing trades or other broker duties due to being non licensed employee. not a lot of career opportunities to move up due to hq being in st louis

    Advice to Management

    need to catch up with competitors and stop being the last to the party.

  9. Helpful (1)

    Depends on what you're looking for...

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Los Angeles, CA
    Former Employee - Anonymous Employee in Los Angeles, CA

    I worked at Scottrade

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Small branch environment makes it easy for you to interact with other employees; technology in terms of computer and software was really great.

    Cons

    Unless you're working at HQ, it's hard to see opportunities for advancement. Once you're a broker, you may eventually become a branch manager, and then what?

    Advice to Management

    Keep expanding branch size, keep the helicopter for commercials because it's awesome, and giving employees gifts is always appreciated, especially in hard times!

  10. Helpful (1)

    The Best!

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Stock Broker in Los Angeles, CA
    Current Employee - Stock Broker in Los Angeles, CA

    I have been working at Scottrade

    Approves of CEO
    Approves of CEO

    Pros

    Sense of family within Scottrade, great work environment with fellow colleagues, fair compensation, fun environment, gain priceless sales experience within the company.

    Cons

    the only downsides to this company is the lack of advancement and compensation. The term discount broker really applies and the employee really gets the the discount compensation. And not much room for advancement within the company unless you move to St. Louis.

    Advice to Management

    Should offer advancement in the company and increased compensation to branch employee's. The environment is great at Scottrade, wonderful employee's and great communication between co-workers.

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