Scottrade

  www.scottrade.com
  www.scottrade.com

Scottrade Reviews

Updated December 15, 2014
Updated December 15, 2014
510 Reviews
2.8
510 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
409 Ratings

Review Highlights

Pros
  • They do allow for a work/life balance that was much better than my previous employer (in 51 reviews)

  • It's also a great place for young college grads to get resume experience (in 32 reviews)


Cons
  • no room for advancement unless you want to change your job title and keep doing the same thing (in 23 reviews)

  • Politics, no room for growth - you're either a broker or a branch manager unless you want to move to St (in 20 reviews)

More Highlights

Employee Reviews

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  1. 10 people found this helpful  

    Deep discount brokerage firm, deep discount employer

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

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

    Pros

    Easy work/life balance even at supervisory levels, mostly friendly coworkers, opportunities for home office employees to move around within organization, "that's good enough" expectations across the organization, company 401k match seems to be above-average

    Cons

    Lack of PTO, very limited advancement opportunities beyond St Louis, pay is mediocre, "that's good enough" expectations across the organization, daily issues with basic customer-facing and work applications

    Advice to ManagementAdvice

    Fix the daily technological issues, in doing so you will retain customers and meet more of the expectations of your workforce

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  2. 1 person found this helpful  

    1 year branch employee

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

    I have been working at Scottrade full-time (more than an year)

    Pros

    After the first year I can see why employees stay with Scottrade so long. Scottrade has a solid pay structure for bonuses and salary. Weekends off! Good health care benefits when many firms are dropping them. No travel. Family feel atmosphere. Honest unbiased help for clients. Rodger is a caring owner.

    Cons

    I have worked at many firms and none are perfect. Scottrade will have to spend some bucks on software & IT to catch up with competitors. Some times there are industry assigned training courses that need to be done while we are wanting to help clients.

    Advice to ManagementAdvice

    No time clocks for all

    Recommends
    Positive Outlook
    Approves of CEO
  3. 37 people found this helpful  

    A Dishonest Company With Dishonest Leadership

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Branch Manager in New York, NY
    Current Employee - Branch Manager in New York, NY

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

    Pros

    If you work in a branch there is nothing I would identify as a "Pro" other than the basics that accompany any job.

    Cons

    There are many reviews that discuss the recent "Changes" at Scottrade. Perhaps the complaint should not be about the changes as every company must evolve to stay competitive. I find the complaint more with the dishonesty of the former Founder? and CEO Rodger Riney, as he has been replaced with Matt Wilson and now prefers to sit back and just be the owner. If you have ever listened to 2 words this guy has said, you know Rodger as I do, I bold-faced liar. If you are having a hard time understanding this statement go back and listen to the "State of Scottrade" speeches over the years. I guess I have more of an issue with this than most because I do listen, I do pay attention. In other words I am not one of the "excited idiots" in the room who claps because everyone else might be. It is quite apparent that the speeches were for the sole intent of misleading a large group of low paid employees with wonderful promises. Listen to all the things that Rodger is NOT going to change. Listen to the implied promises. Look for your stock options. Look for the reason you remained with this company for so long if you did indeed dedicate a large part of your career to this company. What are the key takeaways from these speeches?

    My future with Scottrade is one with little time left. This company is garbage. I am compensated for pushing paper and I continue to do so but I look for no incentive pay as I do not speak highly of this company as far as an investment firm, much like not providing advice with this firm I just provide the facts and uncertainty behind this company and let the customer make their investment firm decision.

    I don't know how many employees were contacted by an individual in HR to post "positive" things about Scottrade on Glassdoor.com but this website certainly has been a focal point for conversations branch network wide and clearly a growing concern for the HR department. Anyone who reads the reviews that are a current employee know which reviews are being solicited by HR.

    The biggest downfall for this company is the incredibly low quality and unqualified middle management, your regional managers. Has anyone looked at their competencies and ability to drive this company in any other direction but into the ground. This group is responsible for an incredibly high turnover, or should I say responsible for a long list of vacancies. Where is their success? Why don't you put them in a branch to demonstrate their skills while your looking for that new manger? The answer is THIS is the department that is not living up to the change. They have no ability to mentor or train employees and they do not have any respect from their subordinates. It is their inexperience and laziness that leads to employees leaving. They cannot train somebody to do a job they themselves cannot do and have not done. They are full of finger pointing and placing blame elsewhere. They are not respected primarily because they have not earned it.

     I find it funny to see how many job openings there are with Scottrade and I look forward to seeing my job in the list.

    Bottom line, this company doomed. I would not recommend this company to a job seeker or a client.

    I guess on a positive note pay isn't horrible, but the job is and I would be happy to make less elsewhere to avoid the toll that this job takes on me from having to have a regular conference call lead by an lazy individual.

    Advice to ManagementAdvice

    I wanted to buy stock in Scottrade for many years., now I would buy "Puts" on Scottrade if I was able. I'm sure the balance sheet and income statement look great, maybe similar to the outstanding US Housing market back in 2007, I'm sure things will just continue on this path indefinitely. Rodger, you have disregarded the very foundation for the idea of this company and disrespected some once loyal employees, I wish you a substantial impending failure.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 1 person found this helpful  

    If you have a good work ethic and you want to help clients accomplish financial goals, you're going to love Scottrade.

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

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

    Pros

    Scottrade rewards effort, prefers to develop talent and leaders from within, and is well positioned for explosive growth over the next 10 years.

    Cons

    Scottrade is evolving rapidly and experiencing growing pains in guidance, IT, and the changing role of back office support.

    Advice to ManagementAdvice

    Please remember what got us here as a company and remain true to our core values.

    Recommends
    Positive Outlook
    Approves of CEO
  6. 2 people found this helpful  

    Good company that cares about its employees and clients

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Stock Broker in Houston, TX
    Current Employee - Stock Broker in Houston, TX

    I have been working at Scottrade full-time (more than an year)

    Pros

    Stable Income, good training, small branch team work atmosphere, corporate support from St. Louis and quarterly team bonuses. Scottrade has a good reputation and is competitive in its industry.

    Cons

    If you came over from an investment firm giving investments advice, you might feel that you are using the best of your abilities because no advice is allowed to be given. You are only allowed to suggest or introduce what services the company has.

    Recommends
    Positive Outlook
    Approves of CEO
  7. 1 person found this helpful  

    Scottrade is a great place to work!

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

    I have been working at Scottrade full-time (less than an year)

    Pros

    The people and the culture at Scottrade are fantastic. They really want to help clients find solutions to fit their financial needs which is hard to find in this business. Management really seems to care about their employees and support them even as the company transitions to a more sales and advice oriented environment. It seems like one big family at the corporate offices.

    Cons

    The firm is adapting to compete with other companies in the industry and the changes are obviously difficult, but it seems like they are trying give employees opportunities and the tools necessary to be successful.

    Advice to ManagementAdvice

    Continue to get input from the employees on the front lines that have the most communication with the clients and use the information as you transition to a more sales and advice oriented firm.

    Recommends
    Positive Outlook
    Approves of CEO
  8. 27 people found this helpful  

    Lousy temporary job at best

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Branch Manager in New York, NY
    Current Employee - Branch Manager in New York, NY

    I have been working at Scottrade full-time (more than 8 years)

    Pros

    The paycheck just about gets me through to the next one. Thankfully I am able to sell cars on the side and this company has such a lack of oversight I have no need to disclose it.(Even though I am able to sell cars while I am in the office and just have to keep my associates quiet with a branch lunch occasionally.)

    Cons

    The ship is sinking you'll just have to know when to step off. This company is run like a bad high school project. Management lacks experience of any kind and they have defined failure to a "T".

    Advice to ManagementAdvice

    Rodger should dump this company like any bad stock..... or you may as well keep holding out hope for your Enron shares too. Frankly this company sucks in every aspect.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. 6 people found this helpful  

    Not bad but not great

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Quality Assurance in Westminster, CO
    Former Employee - Quality Assurance in Westminster, CO

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

    Pros

    Fairly laid back and not a lot of pressure or stress. Great people!

    Cons

    Salaries are not great and leadership doesn't see that as an issue. Unable to hire top talent because they just won't pay.

    Advice to ManagementAdvice

    Realize the Denver market is hot and no matter what your salary evaluations say, you are wrong to think it is as low as you claim. Top talent will continue to walk and you will not be able to attract more than low t middle of the road technical talent.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 24 people found this helpful  

    Who are you trying to fool? This company is bad news!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Consultant in San Jose, CA
    Current Employee - Investment Consultant in San Jose, CA

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

    Pros

    This company doesn't provide any identifiable Pro's. This company lacks integrity.

    Cons

    This company probably won't be around much longer. Something is going to change the tide. I may be an employee but I show people how they can have a better investing experience with another firm. This company has for the most part ripped me off and with the horrible Guidance Solutions group it is obvious they are looking to rip off the clients. Congrats to Schwab and their new Robo Advisor and the no fee approach. As for Scottrade congrats on reducing the branch offices to the Robo Morons. This company produces poorly trained staff because of poorly qualified management.

    Advice to ManagementAdvice

    Please replace the management and the Human Resources department from the top down.

    Thanking you in advance.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 30 people found this helpful  

    Scottrade = TD Ameritade

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

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

    Pros

    Good 401k plan. Good benefits"that you pay a ton of your own money into". 8 hour work day. Off holidays

    Cons

    I feel we were lied to. We were told we were going to do things the "Scottrade" way. That was a lie. We are doing things the TD way. Roger has stated multiple times that he isn't a salesman and wants to focus on not doing sales. Another lie. We were told no quotas. Another lie. I don't believe anything that management says. Do I even need to talk about how made our technology is??? If you are thinking about working at Scottrade. STAY AWAY!!!!

    Advice to ManagementAdvice

    Have some of the regional managers come work in a Branch for a day and see what assets they can bring in. They all have
    No prior sales experience. !!!!!

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