Scottrade Reviews

Updated July 1, 2015
490 reviews filtered by
  • Any Location
  • Any Job Title
  • Any Status
Employment Status

Reset
These reviews contributed towards 2012's Best Places to Work recognition. See ratings and reviews for all time.
2.9
Rating Trends
Recommend to a friend
Approve of CEO
Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
362 Ratings

Pros
  • Work life balance is still good (in 51 reviews)

  • Used to be a great place to work (in 32 reviews)

Cons
  • Not much room for advancement once you start in the branch (in 23 reviews)

  • The only way to move up is to move to St (in 20 reviews)

More Pros and Cons

490 Employee Reviews

Sort: Popular Rating Date
  1. Helpful (22)

    Not Bad, Not Good.. Just Middle of the Road.

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

    I have been working at Scottrade

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    -Top Notch benefits
    -Work/Life Balance
    -Great 401k Match
    -Small company feel
    -Tre

    Cons

    -Currently unrealistic sales metrics that have a one size fits all model. Regardless if you are in a small office or a large office or your zip code is 90210 or 39201. Employees seem to be only as good as their last guidance close or asset gathering deposit.
    -Job Security if you have two bad production quarters. Performance plans are being issued regularly.
    -JD Power Awards are a thing of the past. Sales dominated culture has no room for Customer Service.
    -There is a big Wolf-pack of TD Ameritrade guys running the show in St. Louis now. It feels like a TD Coup is almost eminent.
    -Not much in the way of career advancement past Branch Manager.

    Advice to Management

    -Lets brake down the branch network to a more manageable level with bigger areas to prospect for the elite sales force we have this will make bigger bonus for those employees and will bring in better talent... 500 branches..Seriously?
    -Lets have a Flagship office in each region where the DVP and Regionals work out of so they can visit the offices they manage more frequently, this would also make career advancement seem more realistic for employees who can't relocate to St.Louis.
    -Lets stop being a follower and start being a leader..which company out there is specifically looking for the word 'Scottrade' on someones resume to hire that person, nobody is. Lets change that someday. It would be cool if there was a company(s) out there looking just to hire Scottrade guys.
    Q. Why are our Stockbrokers called Investment Consultants when they are not Series 66 licensed? Investment Consultants really can't do much other then show stock screeners, reset passwords and ask 'Where is your money outside of Scottrade?'


  2. Helpful (35)

    Pull Your Hair Out

    Former Employee - Investment Consultant
    Former Employee - Investment Consultant

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

    Pros

    - Decent pay, not great
    - Reasonable hours
    - Flexible time off
    - Generous 401k match

    Cons

    - Oppressive micro-management by regional and corporate managers
    - Lack of autonomy in branches
    - Constant nit-picking and preaching over dubious sales metrics
    - Tedious and never-ending data entry into cumbersome CRM software
    - Hoards of petty administrative paperwork and other trivial customer service-related duties, yet expected to meet demanding sales targets; no secretary or office assistant due to hiring freeze
    - Poor internal and customer-facing technologies and platforms (relative to competitors)
    - Underwhelming product offerings to sell customers (relative to competitors)

    Advice to Management

    Sell the company while it still retains some value.

    Scottrade Response

    Jun 8, 2015Social Recruiting Team

    We appreciate your feedback and are sorry to hear about some of the frustrations you felt during your time with Scottrade. Branch leadership is aware of the strain that administrative tasks can have ... More


  3. Helpful (24)

    Former employee

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

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

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Young workforce. You rarely have to work long hours. All the bosses are respectful and willing to offer help when requested.

    Cons

    No clear direction for company. Within the last year the head of brokerage, bank, and general counsel have left and no permanent hires have been made. Low salaries unless you have 15+ years of experience are causing them to lose a lot of talent.

    Advice to Management

    Management needs to be more open with the direction of the company. Seeing the heads of the brokerage and bank leave has many people questioning what is going on. The need to be more aggressive establishing new sources of revenue and sticking to it.

    Scottrade Response

    Jun 19, 2015Social Recruiting Team

    We want all of our associates to feel informed, and we regret to hear you didn’t feel that way while you were at Scottrade. We are working on ways to better communicate with associates throughout the ... More


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


  5. Helpful (12)

    Confusing Corporate Direction

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

    I worked at Scottrade (More than a year)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Progressive company with good people and they are very customer-driven.

    Cons

    Poor electronic platforms and they lack a clear corporate direction.

    Advice to Management

    n/a

    Scottrade Response

    Jun 25, 2015Social Recruiting Team

    We appreciate you taking the time to share your thoughts. Our strategy has changed, and we firmly believe this shift will help Scottrade remain competitive in the industry and allow us to provide ... More


  6. Helpful (19)

    Current Employee

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

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

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

    Pros

    Good benefits and work schedule.

    Cons

    Manage to flawed stats that heavily focus on outbound dials. Changes in expectations are leading to higher turnover and burnout.

    Advice to Management

    Any client interaction is important, encourage any and all contacts not just outbound dials.


  7. Helpful (4)

    IT

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Scottrade

    Pros

    A very nice place to work
    Good bonus and steady annual merit increase

    Cons

    Salary is below market
    Career growth especially promotion is not transplant or standardized
    Road blocks to prevent using tools causing less efficiency
    Too many administrative works or red tapes

    Advice to Management

    Standardize promotion and make it a goal for associate to work on


  8. Helpful (8)

    Branch Manager

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

    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

    Small team. Personal service. New advisory business provided additional training and enhanced my knowledge of the business. Pushed me to do more for my customers. Empowerment. Trustworthy management team. Sales and service keeps the day interesting.

    Cons

    Corporate image as a discounter. Marketing support is lacking.

    Advice to Management

    Keep listening and monitoring the marketplace. Find our niche. For once, it would be nice to be 1st to the market with something amazing. Always a follower, never a leader.

    Scottrade Response

    Jun 19, 2015Social Recruiting Team

    We appreciate you taking the time to share your thoughts. Our leadership teams are always looking for opportunities to be innovative and competitive within the industry. We hope you continue to have ... More


  9. Helpful (11)

    Decent Sales Position

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

    I have been working at Scottrade full-time

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

    Pros

    The sales incentive program allows you to double your salary, and then some if you are good sales person.

    Cons

    It is a customer service and sales position. The company is new to sales and still trying to figure out what they are doing.

    Advice to Management

    The bonus\incentive structure needs to be simplified. There are WAY too many dos and don'ts. If money comes in associates should be rewarded. There are too many stipulations to getting paid. Selling guidance should be a tool, not a requirement.

    Scottrade Response

    Jun 19, 2015Social Recruiting Team

    We appreciate your perspective and have passed along your suggestions about the incentive program to the appropriate teams.


  10. Helpful (8)

    Investment consultant

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Consultant in Dallas, TX
    Former Employee - Investment Consultant in Dallas, TX

    I worked at Scottrade full-time

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

    Pros

    Great coworkers! The benefits package was very good. This is a great company to gain professional experience and get licensed. Can be a beneficial career choice for the traditional family 9-5ers types. Pay is decent for the minimal amount of work that is involved. Overall great company, I'm just not thrilled to work with retail clients day in and day out.

    Cons

    Not much room for growth. Daily tasks become mundane unless you are motivated to do extra to feed your brain. Retail clients are draining which isn't a knock on scottrade, but an unavoidable part of working for them.

    Advice to Management

    Stay transparent with employees as best as possible. I believe you promote some of the better folks, but there are some managers who should probably be demoted. With that being said, all of your current sales tracking will expose the weak. Keep up the good work!


  11. Helpful (3)

    Admin.

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

    I have been working at Scottrade

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    For the most part, the company is stable. There is flexibility in work hours, etc. Free parking and decent health benefits.

    Cons

    Work load is not evenly balanced. Pay is below average.

    Advice to Management

    Recognize those working late and going above and beyond. Stop protecting and covering up for those who choose not to perform and eliminate the associates with attitude.

    Scottrade Response

    Jun 25, 2015Social Recruiting Team

    Scottrade views compensation in terms of total rewards, and we realize that compensation is more than just a number. Associates are eligible to receive semi-annual bonuses and annual merit ... More



Showing 490 of 619 reviews
Reset Filters
RSS Feed </> Embed

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