Scottrade Reviews

Updated July 6, 2015
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2.8
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Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
414 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

548 Employee Reviews

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  1. Helpful (5)

    Great place to work!

    • 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

    Work truly ends at 5pm, nights & weekends are for your family.
    Company recognizes importance of balance between work and home.
    Spend time getting to know people in your community, and help them reach financial goals.
    Personal goals are your own, competitive pay, unlimited bonus potential.

    Cons

    No downside, plenty of room to grow and expand career especially if you're willing to relocate.

    Advice to Management

    Management should keep doing what it's doing. Keep trying new things, as those changes that work are continued and those that aren't get tweaked.

    Scottrade Response

    Jun 19, 2015Social Recruiting Team

    Thank you for your review, and we are happy to hear you’re enjoying your employment with Scottrade.


  2. Helpful (2)

    Stock Broker

    • 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

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

    Pros

    Learning environment is great and great culture Company is slowly changing from pure service company to asset gathering company

    Cons

    Not very competitive salary and bonus

    Scottrade Response

    Jun 8, 2015Social Recruiting Team

    Thank you for your review. At Scottrade, we believe in rewarding associates fairly. By performing annual compensation reviews using several industry-standard, third-party sources, we ensure accurate ... More


  3. Helpful (1)

    Scottrade is positioned for great success

    • 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 full-time (More than 5 years)

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

    Pros

    I get the change. You're either able to get on board with it or not. For those engaged, dedicated and hard working, you're likely going to soar and do well. The culture is professional, yet laid back. The dress code is casual for most areas. The benefits are great. I feel I'm listened to as an associate, and my manager is open to new ideas I bring forth. I feel I'm paid what I'm worth and see opportunities for advancement.

    Cons

    I've seen the needle moving slowly with diversity at the company, so this is less of a con than in the past. I appreciate the cafe location, subsidy and selection of food offerings. Some days, I just want to get out of the office and grab a sandwich or sit in the small cafe seating area and read for 30 minutes to reenergize, but the culture in our HQ building says, "get your food and get back up to that desk." It's a small thing I know, and luckily in my area I could do this a couple of times a week, but for the masses, the feeling is you best never be caught standing around visiting, relaxing over lunch, etc.

    Advice to Management

    Keep rewarding those engaged doers from all areas of the firm. The incentive plans, performance merit, etc....this is what will keep me here. I hope we're able to get our Best Places to Work distinction back soon. Make our campuses smoke-free or move the smokers away from the doors I have to enter and exit please.

    Scottrade Response

    Jun 8, 2015Social Recruiting Team

    Thank you for taking the time to write a review. We’re happy to hear that you are satisfied with your employment at Scottrade. As you mentioned, we offer associates the option to work an eight-hour ... More


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  5. Helpful (5)

    Branch Manager

    • 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 leadership has developed a great vision for the company. This is one of the few firms in this industry if not the only where the CEO cares more about his employees then his wallet. Nice guys finish FIRST and scottrade is showing. I love sales and nothing feels better then signing up a new client knowing not only did you make a sale but you improved a clients situation which is what happens when you work for Scottrade.

    Cons

    Like all companies going threw transition there are growing pains however not only is leadership aware of all current issues I have full faith in their ability get us where we need to go.

    Advice to Management

    Stay true to the vision. Stay committed to the model. The is a great place to have a career.

    Scottrade Response

    May 20, 2015Social Recruiting Team

    Thank you for your review. We appreciate your commitment to the company and wish you the best in your career with Scottrade.


  6. Helpful (1)

    Great start to financial services indusrty

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Investment Consultant in La Mesa, CA
    Former Employee - Investment Consultant in La Mesa, CA

    I worked at Scottrade

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

    Pros

    A large highly developed firm with a competitive strategy for success.
    Professional training to help you build your career.
    Friendly branch environment that allows cooperative team work.
    Benefits and work/life balance are great.

    Cons

    I left when the firm was restructuring the business model to become more competitive to the industry. Happy to see them make this change.

    Scottrade Response

    May 20, 2015Social Recruiting Team

    We appreciate your review and wish you the best of luck in your career.


  7. Helpful (3)

    Great

    • 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

    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.


  8. Helpful (7)

    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

    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 resonated with you and ... More


  9. Helpful (9)

    Great Potential For Rewarding Career

    • 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 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


  10. Helpful (4)

    Large company with a "small business" culture

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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.


  11. Helpful (3)

    I LOVE this company!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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.



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