Scottrade Reviews | Glassdoor

Scottrade Reviews

Updated May 24, 2017
945 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. "Financial Service Representative"

    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
    Positive Outlook
    Approves of CEO

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

    Pros

    Love the people, culture and environment

    Cons

    They software and technology are outdated


  2. Helpful (1)

    "Web Developer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Comp & Benefits
    • Senior Management
    Current Employee - Web Developer in Saint Louis, MO
    Current Employee - Web Developer in Saint Louis, MO
    Approves of CEO

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

    Pros

    I've enjoyed working at Scottrade. I always felt that Rodger cared about the people (both customers and associates). My manager and team are great--and part of the reason I enjoy coming to work every day.

    Cons

    The uncertainty of being acquired by TD Ameritrade.

    Advice to Management

    Keep communicating! People need to know how to plan their future.


  3. Helpful (32)

    "Here We Are"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - BOM in Dunedin, FL
    Current Employee - BOM in Dunedin, FL
    Disapproves of CEO

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

    Pros

    Us folks in the branch network considering leaving but staying in the industry should think long and hard. Other than compliance selling is going to be a big part of any job opportunities that are available and I would think working for a company like TD with better products services and technology to put us in a much better position then we are in right now. Let's all do the right thing sharpen our saws and be the best that we can be.

    Cons

    Obviously a company in transition to TD

    Advice to Management

    How about sharing the wealth little bit Rodger. Because this is not a public company the employees are not gonna benefit in any way from the buy out. But you certainly are profiting my friend how about sharing a percentage of that with employees that have been here for and produced to get you in a position of a $4 billion payday


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  5. Helpful (31)

    "Current Pulse of the Company"

    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
    Negative Outlook
    Disapproves of CEO

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

    Pros

    With the pending sale of the company, there are no pros for those interested in employment at Scottrade. Those currently employed at Scottrade are promised a reasonable severance, though I have a large concern and little faith I will see that severance.

    Cons

    With the pending sale, it’s a sinking ship. Why would anyone board a sinking ship? Why would anyone entrust their life, and their family’s life to a sinking ship?

    Cons:
    - Management is not transparent about the sale (though they may be trying, or at least mgmt. certainly tells us they are trying to be transparent). In any case, it seems Scottrade employees are the last to find out the latest updates on the acquisition.
    - Corporate Communications’ memos regarding the sale are typically delivered in a manner that makes it seem like mgmt. is hiding something, that mgmt. is not completely honest with the employees, or that otherwise confuses and enrages many employees.
    - Employee morale and productivity continue to plunge to new depths.
    - Bonuses are not paid out to those who resign employment between the end of bonus period and the bonus payout. This wasn’t always the case – previously you could rest assured you would get your bonus payout even after you left the firm.

    Advice to Management

    You've always been bad at being transparent with your employees. Here's your opportunity to right the ship!


  6. Helpful (4)

    "Investment Consultant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Consultant in Miami, FL
    Current Employee - Investment Consultant in Miami, FL
    Recommends
    Negative Outlook
    Approves of CEO

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

    Pros

    Entry level to sales and brokerage business
    Great benefits
    Great learning experience about the sales, markets and client relationship building.
    Life and work Balance.
    After your experience at Scottrade you will have a vast knowledge about sales and the brokerage business. Lots of doors should open up for you.

    Cons

    Limited upward mobility; at the branch level there is IC or BOM. That's it.
    Compensation is on the low end.
    Outdated technology
    Difficult to compete with big players like TD, Fidelity, or Schwab. They are lights ahead of us.
    Lots of paperwork processing and dealing with low net worth clients. You have to deal with this and sales goals. Kinda difficult.

    Advice to Management

    Take the time to visit offices and understand what the average branch goes through on a daily basis so you can set realistic goals. Also, your sales training needs revision. SPIN selling its the way to go.
    Lastly, our branch offices are not built for relationship building- must be remodeled first.


  7. Helpful (13)

    "Not Worth Your Time"

    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
    Negative Outlook
    Approves of CEO

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

    Pros

    Raffles for hockey tickets this year.

    Cons

    Not a great place to hire on to this year, if you're looking for long term employment. Unlicensed employees prospects are very limited here.


  8. "WCM Analyst"

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

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

    Pros

    fair work space, good work environment,Work/Life Balance, room to developer you self

    Cons

    Scottrade is being acquired by TD Ameritrade

    Advice to Management

    the start of a long process that could take up to a year. we will continue to operate as separate companies and we need to continue running our business.


  9. Helpful (32)

    "Great company that has lost their way!"

    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
    Negative Outlook
    No opinion of CEO

    Pros

    Fast paced work environment
    Historical culture of listening to the people
    Take care of their employees in times of need

    Cons

    Flat growth with little strategic vision from leadership
    Culture is falling apart
    Leadership changes are not working

    Advice to Management

    The lack of trust within the Executive Management team is obvious! The SVP's and VP's are trying to keep the train going. It is probably time for the Board to interview leadership to see what is really going on!


  10. Helpful (2)

    "Marketing Analytics"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Marketing Media Analytics Manager in O'Fallon, MO
    Current Employee - Marketing Media Analytics Manager in O'Fallon, MO
    Recommends
    Negative Outlook
    Approves of CEO

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

    Pros

    work/life balance
    advancement opportunities
    great culture and values

    Cons

    Merging with TD Ameritrade
    Many senior staff members are unqualified for the positions they hold

    Advice to Management

    listen to your employees instead of always bring in consultants


  11. Helpful (47)

    "They didn't listen"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Consultant in Naples, FL
    Former Employee - Investment Consultant in Naples, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Stable paycheck, health insurance even though it was growing more and more expensive each year, vacation and sick time. That's about it.

    Cons

    Everything, anyone who didn't see this coming several years ago simply wasn't paying attention or was being willfully blind about the state of the company. An organization that is governed autocratically from the top with no regard for feedback from the front lines is an organization doomed to fail. A company that continues to ignore client feedback is doomed to fail. I could go on but it starts all the way at the top and both the person at the very top and management are solely responsible for it's demise

    Advice to Management

    I wrote a SWOT analysis on Scottrade for a college paper while I was an intern back in '10. I cited the need for CRM, product enhancements and technological improvements, being able to implement changes more efficiently, major Group Think issues, and need for wealth management as going concerns. I wrote that 6 years ago, well before the transition to sales. If a senior in college was able to accurately address your issues, why Thw top leadership and others were blind is inconceivable....except it isn't. The underlying good ol' boy culture and group think and top dog's penny wise pound foolish attitude were to blame and blatantly evident for all to see. Senior management and their under-educated, I'll-informed team have no one but themselves to blame for the lives they've so seriously disrupted. I feel so bad for my former associates in their 50's as they will have a very hard time finding new employment but I tried to warn them for years. I only stuck around for the $65k+ coming in. Once the gravy train departed the station, I ran as fast as I could.


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