Scottrade Reviews

Updated April 19, 2015
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  1. Helpful (27)

    Handwriting on the wall?

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

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

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

    Pros

    Benefits still OK for the most part. Lowest levels of management (supervisors, managers) are good people but ham-strung by out-of-touch upper management people

    Cons

    Below-avg pay. Won't pay you what you are worth. Used to be strong team-oriented but now everyone has to cover their backsides with both hands. Used to be hands off but now micro managing is the new black. Everyone looking over their shoulder. Massive IT layoffs coming soon.

    Advice to Management

    Let managers and supervisors make decision that count not have to get approval for every little thing. Fire execs (ha ha that wont happen) b/c they don't care about anything just their own bonus. Used to be a b est places to work but now its just a job. PS social team - don't bother with any of your canned responses your not fooling anyone.

    Scottrade Response

    Mar 9, 2015Social Recruiting Team

    We’re sorry to hear you feel this way. We read these reviews on a regular basis and make every effort to respond to comments, as well as share them with the appropriate teams throughout the firm. As ... More

  2. Helpful (6)

    Toxic 20%

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Branch Manager in Grand Rapids, MI
    Current Employee - Senior Branch Manager in Grand Rapids, MI

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

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

    Pros

    Incredible Owner who truly cares (to a fault many times). Associates are Friends --not just associates. Over 80% truly care about each other,our advancement and care about our customers.

    Cons

    There is a very vocal 20% of our company that is unhappy with "selling" (I will call them the toxic 20%). If you listen to anything our owner says (for that matter most of those in leadership )--we are not "selling". We are truly helping our customers. Ask yourself these questions- is it good for our customers to trade away their life savings while we sit idle and don't at least offer an alternative? Have you taken the time to review accounts to see how the customer is actually doing on their own? No one has told me to get our there and sell --if there is someone in management that is telling you to "sell"- then tell a trusted branch manager and we will get it up the appropriate channels. Your Job is to help your customers overcome financial barriers - sometimes, they themselves, are their barrier- your job is to help them understand this. When the toxic 20% attack our management (who is only trying to help you)- it is like a dog biting its master. You are making it worse for everyone! These are people who care about you --so stop! It is not and never will be branches vs. home office --we can't survive if it is! Look deep inside and decide in the next few months -is this truly what I want to do? Do I like the stock market & helping people? I am calling out to all people like myself who care about this company to begin posting their beliefs. To the toxic 20%- You are important to me but please stop the insane negative posts --it is not even close to as bad as you are trying to make it sound and if it is then tell someone your concerns. I am far from perfect and need a great deal of skills but management has been extremely patient with me. If you are willing to work together, we all will get better!

    Advice to Management

    Don't be fooled by all the negative posts. We love this company --that is why we are still here! The vast majority of your employees have always cared about helping our customers and have for a very long time wished they could express concern when someone was consistently making poor decisions. I have worked here over 17 years and yes there is tremendous change - a company without change dies. Keep helping customers and believe in what you are doing. Tell the 20% you care about them and-- if need be -- you will help them with job placement and finding a career that will satisfy them (isn't that what life is truly about --it is not all about money- I promise you).

    Scottrade Response

    Mar 19, 2015Social Recruiting Team

    We appreciate you taking the time to share your thoughts and agree that there are many satisfied associates at Scottrade who may not be accurately represented on Glassdoor. However, we are taking the ... More

  3. Helpful (2)

    Happy with the company in general.

    • 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 (More than 10 years)

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

    Pros

    Good Benefits, base pay, and perks. The company does a lot to keep the employees happy.

    Cons

    There is always somebody in the company who is failing in her job and will say anything about others to deflect blame for thier issues.

    Advice to Management

    Keep an eye on the employees out west who are not team players but pretend to be. They are willing to throw loyal employees under the bus in order to prevent themselves from being discovered for thier failings.

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  5. Helpful (48)

    A tale of two Scottrades . . .

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

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

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

    Pros

    • Exceptional 401(k) match and health benefits
    • Fantastic coworkers in branches who try to help each other succeed
    • Great laboratory to learn about cognitive bias

    Cons

    If considering work at a branch, don’t be fooled by talk of core values and culture. Your job is to bring in new money, push fee based advice and don’t take no for an answer if you meet resistance. All other considerations are secondary because your regional and divisional managers are driven by sales statistics. If you meet your sales goals, management will leave you alone and your experience will be as the myth busting manager described on Jan 10. If you don’t meet your goals, your regional manager will get involved and your experience will be like employees who have left negative comments or have left the company. This is one reason you hear such polar opposite opinions about Scottrade.

    In the current environment, one regional criticizes reps for not being aggressive enough with customers. Another regional boosts their statistics by making customers wait for help while reps work on documenting sales notes. Our divisional told us he wouldn’t spend much time with small accounts that weren’t going to lead to conversions and apparently another divisional isn’t above using fear to compel customers to sign with advisors. If this culture sounds good to you, then welcome to Scottrade!

    Advice to Management

    I understand the need for new revenue streams, and asking for outside business and referrals are great ideas, but isn’t there a way to do this without an atmosphere that is ‘aggressive, frightening and discomforting?’ This isn’t my opinion; these are the actual words being used by your middle managers (Ref: Review on Dec 13, 2014).

    It pains me to write this - Scottrade was very good to me for many years.

    Scottrade Response

    Jan 30, 2015Social Recruiting Team

    Thanks for sharing your comments. We regret to hear that your time at Scottrade was less than satisfactory and don’t believe your comments are an accurate representation of the coaching provided to ... More

  6. Helpful (3)

    I LOVE this company!

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

  7. Helpful (6)

    Currently working at Scottrade.

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

    I have been working at Scottrade

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

    Pros

    The new emphasis on asset gathering and managed accounts provides an opportunity for branch personnel to make a lot more income than they were in the past. For those who work in busy branches and who are aggressive salespeople, this is a great opportunity.

    Cons

    Having the added pressure of sales goals has fundamentally changed the nature of the jobs in the branch, and will drive many who are not comfortable with sales to leave the company. Hiring that many new employees will mean that the customer service skill set and expertise will be greatly reduced.

    Advice to Management

    Be very careful in over emphasizing outbound phone calls, versus taking care of customers who are calling in. A lot of asset gathering opportunities are missed, when inbound calls are ignored.

    Scottrade Response

    Mar 6, 2015Social Recruiting Team

    Thanks for your feedback. Although we have shifted to a sales model, providing exceptional customer service still remains a priority, and we believe that is what will set us apart from the ... More

  8. Helpful (27)

    TO: the 80% and Scottrade FROM : the "Toxic 20%"

    Former Employee - Associate in Truth or Consequences, NM
    Former Employee - Associate in Truth or Consequences, NM

    I worked at Scottrade full-time (More than 10 years)

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    The Company HAD the right idea. When did they lose sight of that? or, has that just ALWAYS been a cover. From what it sounds like, Rodger is genuinely a nice guy. or is that just a cover too? Many people say they have had great chats and conversations with him. That is fantastic! Sooooo, is he in denial or avoiding or ignoring that there are some serious (some more serious than others) issues that need his TLC or things may escalate to beyond repair. He seems to have built his company and values off of family and traditional values. If those values are no longer what Scottrade is about then EVERYTHING needs to be updated to keep up with the big changes they have introduced. If the core values are constantly being referenced in negative comments, its time to change them or just get rid of that ridiculous cloak of goodness.

    Cons

    This site seems to be the only place where the people that make the company a Company can go to vent. It is very likely they will have a better chance of having a response from someone, ANYONE from the company through glassdoor.com than they will have with the company first hand, direct contact and actually get a response. This, my friends, is the reason for the airing of the dirty laundry. People get sick of making the effort to go to someone in the company thinking their issues resolved only to be ignored and feel like just one of the herd. Oh, and Rodger doesn't seem to be nearly as available as they would have you believe.

    Advice to Management

    Time to make it real or change it all. IF Rodger is the great guy that everyone says he is then he needs to step up into the spotlight. Don't make it seem like you could go to Rodger to talk about a problem that has been going on for a long time if that is not really the case. It is not fair to newer employees or even clients to think they have a chance in H*LL to talk to Rodger when in reality his care, concern and availability are all just smoke and mirrors and just an urban legend made up for good looks and PR. You need to start CARING, not just listening or "passing along" a comment to the right department so it can be addressed properly. Those statements have no value or meaning, so why even make the effort. Instead of spending time and money on PR man hours to recover and repair the damage, Start at the center and go from there and those PR issues will take care of themselves when you start taking care of your employees. Start doing right for ALL of the employees AND listen to what former employees are telling you. Do not discount them because they do matter. A former employee that voices a striking opinion or issue is one that you should listen to. Finally, you should probably respond very quickly to those people that make comments that seem to be egging on or daring the "Toxic 20%" to say who they are. Even if 1% of those toxic 20% of people were being totally fair and honest with their review, would the company REALLY want those people to come forward with their story just because they were being egged on, discounted and picked on? Shame on those current employees that are the proud 80%. What they are doing and saying is just re-enforcing what the majority are saying, that the 75% of the SCOTTRADE LOVING employees play childish bullying games, are overpaid for the position they are in, just because one is in a leadership position does not mean they are qualified or even deserve to lead. publicly everyone cares but privately no one cares and HR is totally useless. blah,blah,blah. Scottrade and Rodger- people who were happy before are unhappy for reasons that have nothing to do with being lazy. If you would just spend a little time figuring out a strategy and a plan to address legitimate problems, performance will increase and the whining and complaining will stop. Take care of things before they escalate into a ginormous mess.

    Scottrade Response

    Apr 6, 2015Social Recruiting Team

    We understand your frustrations. We know that associates are turning to Glassdoor to express their feelings and share their experiences with us, both good and bad. Because of this, we are reading ... More

  9. Helpful (16)

    IT is nowhere near where it should be.

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

    I worked at Scottrade full-time (More than 3 years)

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

    Pros

    IT has access to some of the latest-and-greatest technologies. Decent pay and benefits. Some opportunities for advancement, especially within the lower levels of IT.

    Cons

    Scottrade management is often not willing to let IT actually use the latest-and-greatest technologies that they have already paid thousands of dollars for. Scottrade management is often not even willing to give IT workers widescreen monitors for mere hundreds of dollars (less than 1% of annual salary). Scottrade management apparently has no interest in allowing developers to do any work to improve code quality, reliability, or maintainability. Scottrade management apparently has no interest in allowing IT to do any work to become more productive, responsive, or reliable. Scottrade management does not include those who are most familiar with the technologies being used (individual IT workers) when making technology decisions.

    Scottrade management apparently wants to do everything possible to avoid risking personal blame ("don't make waves"), even if it obviously results in lower productivity and higher risk for the company as a whole. Then, when something unsurprisingly does go wrong, they are quick to find blame in individual IT workers (who sometimes tried to reduce risk in the first place).

    Advice to Management

    Work to bridge the huge gap between IT decision makers and individual IT workers. Involve those who are most familiar with the technologies being used (individual IT workers) when making technology decisions. It could easily result in increased productivity and system reliability.

    Do the right thing because it's the right thing--don't wait until external parties like auditors force you to do it. For example, make it so that no individual IT workers need to know the passwords for production accounts--I bet I and many other former employees still know many of them.

    Scottrade Response

    Apr 10, 2015Social Recruiting Team

    We appreciate your perspective and can understand the frustrations you felt during your time with Scottrade. In an effort to make improvements within IT, we have shared your suggestions with the ... More

  10. Helpful (27)

    Changes not working

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

    I have been working at Scottrade full-time

    Negative Outlook
    No opinion of CEO
    Negative Outlook
    No opinion of CEO

    Pros

    Good 401k match, and benefits

    Cons

    To much change and not enough qualified upper management

    Advice to Management

    It's all about selling now and no longer about the people who work there. You are only as good as your last sale. To many metrics. Incredibly time consuming micro management. Let's have some of the management guys go to a busy branch and see what the reality is. Maybe then, they will understand better. Put them in the office and have them take calls, help walk-ins, do the paperwork, trades, etc..... Might be an eye opener but unfortunately management will never do that since they would be incapable of doing the job since they don't know how to work the very systems they make us use.

    Scottrade Response

    Jan 16, 2015Social Recruiting Team

    We appreciate your feedback. We believe the shift in focus has allowed our branch associates to better assist clients in meeting their financial needs.

  11. Helpful (37)

    Tale of two companies.

    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

    Former culture was one that cared about their employees and adding value to the client experience. Hopeful that there is still someone in leadership that can bring those values back to the forefront.

    Cons

    Going to be objective here since HR and media team have been instructed to respond, I hope they do so to this posting.

    Lack of Diversity is evident. All members of executive team are Caucasian. All Divisional Vice Presidents are Caucasian. Very few Regionals or vice presidents in the entire organization are diverse, with one African American VP.

    New employees that are coming in and requiring certain amount of sales experience and in running a branch, both 3 years. None of the current Divisional Vice Presidents meet this criteria...none. Now they are displacing employees that mean well, have a heart, and put in the effort to be dismissed. Problem is no leadership because they have never developed those skills. There is minimal to no coaching given to Regionals To Help Them Communicate With their branches thus all the negative commentary.

    With all the responses from management evident as of late I would challenge a posting that broke down there diversity from a VP level up, as well as, the branch management and leadership experience of all DVPs.

    Advice to Management

    Hopeful Rodger steps in and works to regain the focus on his employees and the client experience. Needs to get leaders that share his values and vision, displace those that are in positions that do not have the experience or knowledge to truly lead. Allowing this new management to create scape goats instead of taking responsibility and coaching their teams to assist the branches in understanding how to have valuable interactions with clients that would lead to asset gathering. A DVP did present FEAR as a way to interact with clients. He was given several opportunities to correct himself and was animate about instilling FEAR into clients to grow the business.

    Look forward to the published statistics.

    Scottrade Response

    Feb 9, 2015Social Recruiting Team

    Thanks for your review. Diversity is an important part of Scottrade’s culture and our goal is to attract and retain more associates and customers from diverse backgrounds. In fact, many of our ... More

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