Scottrade Reviews | Glassdoor

Scottrade Reviews

Updated April 29, 2017
205 reviews

Filter

Filter


4.9
Star Star Star Star Star
Rating Trends Rating Trends
Recommend to a friend
Approve of CEO
Scottrade Founder, President, and CEO Rodger O. Riney
Rodger O. Riney
178 Ratings

205 Employee Reviews

Sort: Popular Rating Date

Pros
  • Great work/life balance for employees (in 124 reviews)

  • 401k match, weekends off or should I say on parole (in 57 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. 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.


  3. "Great work life balance!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Consultant in Las Vegas, NV
    Current Employee - Investment Consultant in Las Vegas, NV
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Good base pay, you can work in a branch as opposed to a call center, bonus pay is above average for a 40 hour work week, no out of balance sales pressure, good training resources.

    Cons

    If you work in a branch office there is little room to advance you career, you will be doing a lot of clerical activities as well as having to meet your sales quotas, many offices don't have office assistants or up front help.

    Advice to Management

    Advertise our managed services via television, radio, and the Internet as instead of relying on outbound calling in the branch offices to generate guidance business.


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


  5. "Fantastic Company"

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

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

    Pros

    Great work/life balance
    Fantastic co-workers
    I truly enjoy coming into the office

    Cons

    Obviously the acquisition by another firm, but even that process is being done in a phenomenal way.

    Advice to Management

    Just keep doing what you're doing


  6. Helpful (13)

    "A Missed Opportunity"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager in Los Angeles, CA
    Current Employee - Branch Manager in Los Angeles, CA
    Recommends
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    I can't imagine a better workplace, with more autonomy, opportunity to earn a lot of money, and all of the tools necessary to be successful.

    We have an absolutely stellar reputation among our clients. Nowhere else in financial services has a firm operated with such a lack of conflict of interest and as aligned with clients for so long. JD Power awards aren't won this consistently for nothing.

    Our compensation plan is exceptionally simple. There is minimal incentive to sell or "push" product. Advice (or guidance) goals are exceptionally small compared to other goals and overall book size. There is almost no conflict of interest, in that your compensation does not depend on how your clients invest. If they bring assets, you get paid for it. If they decide to pay for advice, you get paid for it. Youre not selling Fidelity funds, putting a certain amount in Amerivest, slinging annuities, etc. Your job is to know your clients better than anyone, and show them a path to financial success. You win if they do it themselves, if they use mutual funds, if they use ETFs, if they use individual stocks and bonds, or if they hire an advisor to do the same.

    I will always look back fondly on my nearly a decade at Scottrade. I wish more of my peers could say the same.

    Cons

    There is truth to the opinions that leadership has been ineffective at times. Scottrade could have benefitted tremendously from more outside talent, sooner. I have respect for the attempts of the people who did choose to lead us, and can attest that the model can be very successful if implemented properly.

    The biggest con of working at this firm is the attitude and effort of many of my colleagues. There are an endless string of people who I have been lucky to work with at Scottrade over the years who deserve better. There exists, unfortunately, a smaller but more vocal group who has been resistant to any form of change.

    Success at Scottrade, in a production capacity, has always come down to a decision. Am I going to be successful? What many of my peers dont realize is that more stuff doesn't make you better. The investing world is extremely efficient and commoditized. The only thing that makes my clients come to Scottrade is me. The only thing that makes them go to Schwab is the effectivenss of the individual there.

    It is true that the combination of Scottrade/TD will make production more difficult in the near term. It is also true that we have no guarantees, no certainty, about our futures there. It is even truer that those of us who have approached our work by focusing on our clients first and our firm second will be the most valuable acquisition for TD Ameritrade. And finally, it is true that the reason Scottrade is being sold is the same reason those employees who never wanted to change will be left behind.

    Advice to Management

    The people who have put in honest, good work at Scottrade deserve more than "dignity and respect." We are the best, and many of our clients believe the same.

    I would like to hear more about how more of our clients signed up for advice last quarter, AFTER the announcement of the merger, than ever in Scottrade's history. We are facing some incredibly challenging headwinds and still managing to win.

    Stop telling me we "don't have more detail on the merger." Start helping me win, more, now.


  7. "Finance Intern"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Intern - Hourly in Omaha, NE
    Former Intern - Intern - Hourly in Omaha, NE
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Scottrade as an intern (Less than a year)

    Pros

    Great environment. Manager and broker were willing to go above and beyond to teach me more than necessary.

    Cons

    There is only so much an intern can do without being licensed.


  8. "Awesome place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Scrum Master in Saint Louis, MO
    Former Contractor - Scrum Master in Saint Louis, MO
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Scottrade as a contractor (Less than a year)

    Pros

    The culture, environment and overall value of their employees is par none.

    Cons

    There really are no cons. This is an awesome place to work.


  9. Helpful (37)

    "PLEASE don't sell us Rodger!!!"

    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
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    PLEASE don't sell us Rodger!!! We're YOUR Scottrade Family and we're here because of YOU! There are several pros, but our company's culture has declined from the very people "rumored" to potentially buy us. Please please please Rodger, consider returned loyalty to your longtime Scottrade vets.

    Cons

    Potentially being sold, which will destroy a lot of families and lives! We know there are a lot of bad reviews, but I'm sure plenty of people would stand with me for the above plea.
    To: Mr. Rodger Riney & Mr. Peter DeSilva- You CAN right this ship together, a lot of us STILL believe in you. Toss out the bad apples that have come over from TD, and let's set sail into the purple sunset ahead of us. The grass isn't always greener.

    Advice to Management

    KEEP AND DO NOT SELL!!! PLEASE, THE PEOPLE BEG OF YOU!!!


  10. "St"

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

    Pros

    Benefits are pretty darn good

    Cons

    Schedule is very limited at times

    Advice to Management

    Keep supporting people


  11. Helpful (19)

    "Branch Manager"

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

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

    Pros

    401k match, weekends off or should I say on parole.

    Cons

    Too much to mention. Management that has no clue or compassion.

    Advice to Management

    Let me think...How bout getting a management staff whose only experience is more than working in a sandwich shop. You know who that is.


Showing 205 of 1,050 reviews
Reset Filters