Scottrade Reviews | Glassdoor

Scottrade Reviews

Updated May 18, 2017
942 reviews

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Full-time Part-time

2.7
Star Star Star Star Star
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Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
684 Ratings

942 Employee Reviews

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Pros
  • I enjoying working at Scottrade due to great opportunities for work life balance (in 127 reviews)

  • 401k match, weekends off or should I say on parole (in 56 reviews)

Cons
  • This practice also doesn't leave room for advancement because incompetent people get promoted and stay there (in 31 reviews)

  • A glass ceiling exists unless you choose to move to St Louis where the corporate office is located (in 28 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (41)

    "A Rewarding Career"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager in Traverse City, MI
    Current Employee - Branch Manager in Traverse City, MI
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    I honestly and truly believe that we have the best owner, best employees and best clients of any firm. Scottrade is like a family in how they treat their employees and how they treat their customers. Being able to interact with clients on a daily basis allows you to quickly develop long lasting relationships with outstanding people. So many are in need of help with their investments and look to you as a partner as they know that you have their best interests in mind. It is truly enjoyable and rewarding to be able to work at a firm that has so many ways to help clients reach their financial goals. We are not pressured to sell any proprietary products and do not have compensation tied to our investment offerings, i.e., you are not pressured to sell a certain line of investments or ram commission-based load funds down people’s throats. Our managed solutions are fiduciaries that are independent and unbiased. Therefore, you can feel good knowing that you are truly working in the best interest of the client. At the same time, you are able to make a lot of money while putting people in a better place financially. It simply doesn’t get any better.

    Cons

    No firm is perfect. There certainly are technology issues. However, we now have a SOLID and experienced leadership team in place heading up both brokerage and banking operations. In the very short time they have been on board, improvements have already been made. Additionally, the transition to sales has been difficult for many including myself. I honestly didn’t think I would care for it. However, I found that by simply focusing on helping and educating clients about high fees and conflicts of interest that are so prevalent in our industry, our offerings sold themselves. So many people have been burned by shady advisors that this message resonates with clients and you quickly gain their trust. I am having a blast making more money than I ever imagined possible at Scottrade. My advice for people complaining is to focus on what you can control and the positive impact you can have on people’s lives.

    Advice to Management

    Rodger is the most honest and decent CEO you will find. He truly cares about his employees and is a big reason I have stuck around here for 16 years. I care not to work for weasels and there are plenty of them in this industry. He has recently brought aboard a great leadership team with outstanding, experienced people. Even better things are on the horizon as we begin to roll out guidance to the branches. Keep up the good work!

    Scottrade Response

    Jun 22, 2016 – Social Recruiting Team

    Thank you for taking the time to share your thoughts with us! We appreciate your constructive feedback and hope you continue to find success at Scottrade.


  2. "The best company I have ever worked for."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Applications Support Engineer in Saint Louis, MO
    Current Employee - Applications Support Engineer in Saint Louis, MO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Culture is top notch, IT management and upper management is pretty darn good, which is saying alot.

    Cons

    Technology infrastructure and IT Change Management is just down right painful.

    Advice to Management

    N/A Scottrade is going to be joining the dust balls of history since TD Ameritrade merger announcement. Such a shame, but not much Rodger can do since it's a private company and he is in failing health. It was great while it lasted, I probably won't ever find another company I liked working for more.


  3. "Branch Intern"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Intern in Northbrook, IL
    Former Employee - Branch Intern in Northbrook, IL
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Flexible schedule, Great learning environment

    Cons

    Compensation, Minimal benefits, All virtual training


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  5. Helpful (39)

    "Misery!!!!!!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Air conditioning and heat is provided. Weekends off. Tv is on during work hours. Your allowed to take a lunch break

    Cons

    I am, along with thousands of other employees sitting in misery not knowing my fate. Not knowing if I will have a position with TD or knowing I won't be able to provide for my family anymore. Complete torture!!!! One new lead a day for the entire Branch, yet we still have minimum quotas !!! In the meantime some senior executives will walk away millionaires and some Billionaires. What about the people who helped build this business??? We get a nothing!! Don't have the desire to pick up the phone anymore. They are going to let TD be the bad guys to lay us off and they will walk away looking like they tried to help us

    Advice to Management

    TD isn't a great company to work for! Instead of allowing the ship to sink you could of turned this company around!!!


  6. Helpful (19)

    "Service Center"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Stock Broker in Saint Louis, MO
    Current Employee - Stock Broker in Saint Louis, MO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    The "work life balance" is real. The benefits are OK - health/dental/vision insurance, 401K match and profit sharing, and PTO.

    Cons

    The "micro management culture" is real. Big Brother just arrived and will interrupt follow up to pressure you to get back on the phone. They say it's shaved 3 seconds off average handle time, but how many Associates will it shave off payroll?

    Advice to Management

    To seal the TDA deal you lowered the bar to get as many warm butts in seats as possible. Treating them like people (not robots) might stop the bleeding.


  7. Helpful (1)

    "Nice and Straight-Forward"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Representative in Saint Louis, MO
    Current Employee - Financial Services Representative in Saint Louis, MO
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Great benefits, market holidays, great culture. A lot of industry experience. Once in the company there's a lot of opportunities to move across different departments.

    Cons

    Pay is lower than average. Sometimes the workload is heavy depending on the time of year. Sometimes the department is very large.

    Advice to Management

    Maybe walking around the headquarter buildings more.


  8. Helpful (15)

    "Corporation"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Service Representative II in Saint Louis, MO
    Current Employee - Financial Service Representative II in Saint Louis, MO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Competitive benefits, including 401k match

    Cons

    Hard to advance your career. Not enough open communication.

    Advice to Management

    Be more open and upfront about changes, etc. Need better communication


  9. "QA Engineer"

    Star Star Star Star Star
    Current Employee - QA Engineer in Denver, CO
    Current Employee - QA Engineer in Denver, CO
    Approves of CEO

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

    Pros

    Great co-workers and an overall good place to work.

    Cons

    Company is being sold and the majority of IT will be out of a job. So it goes in the business world

    Advice to Management

    Continue to be as open as possible about the sale of the company and what it means for the employees


  10. Helpful (2)

    "Thank You!"

    Star Star Star Star Star
    • 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
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    I want to start by acknowledging that I realize the associate experience varies, and it is dependent upon factors such as position, location and/or manager. My personal experience as an associate at Scottrade has been very positive. The benefits are abundant/generous, management is fair, you can grow professionally if you work hard and remain flexible when change occurs and the people you get to work with are truly the BEST! I want to thank Rodger for building such a great company, and for doing what is right for clients and associates - then, now and through the transition to TD.

    Cons

    No real CONS aside from the fact that Scottrade is being acquired. Good or bad, things will be different after the acquisition.

    Advice to Management

    Continue to be transparent and fair.


  11. Helpful (31)

    "Amateur hour"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Manager in Indianapolis, IN
    Former Employee - Branch Manager in Indianapolis, IN
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Scottrade (Less than a year)

    Pros

    candy and toilet paper provided at not cost

    Cons

    Regional managers and divisional managers droning on and on about your big G. Showing clips from Glengarry Glen Ross and calling it motivation. RM's and DVP's telling all they will be "fine" as they scheme and collude with other to fire and replace. Rodger and management looking everyone in the face telling them they will be treated fairly then thrown out like garbage. Nice legacy you are leaving Rodger Mary and Peter. Enjoy your peaceful retirement.

    Advice to Management

    Please more talk of my big G maybe even my little g.


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