From Wikipedia, the free encyclopedia Scottrade
Scottrade
Scottrade Scottrade.com was successful and grew rapidly amidst
the dot-com bubble of the 90s.[5]
By 1998, Scottrade.com commissions were as low as
$7 per trade (the same price as of August 2011) increasing
their customer base.[6]
Type Private In 2000, Scottsdale Securities officially renamed to
Scottrade due to the success of their online firm.[7]
Industry Financial Services, Discount Brokerage, In 2003, Scottrade launched their Chinese trading
Self-directed Investing
site, Chinese.scottrade.com.[8]
Founded Scottsdale, Arizona (1980) In 2004, Scottrade’s corporate headquarters were re-
located to a new building called Corporate Hill in West St.
Headquarters St. Louis, Missouri, USA
Louis County.[9]
Key people Rodger O. Riney Scottrade saw substantial growth throughout the
(President and CEO) 2000s, expanding from 200 branch offices in 2004 to 500
Jane Wulf
by 2010.[10]
(Chief Administrative Officer)
Ron Wiese In 2006, Scottrade formed a partnership with the St.
(Chief Financial Officer) Louis Blues NHL team, purchasing the naming rights to
Ian Patterson the 19,150-seat arena in downtown St. Louis. The arena
(Chief Information Officer) was renamed the Scottrade Center.[11]
Products Stock Broker, Investing Online: Stocks,
Options, Mutual Funds, IRAs, CDs, Fixed Income, Etc.
Revenue $838.10 million (2008) [1]
Employees 3,300 (2010) [2]
Website scottrade.com
Scottrade is a privately owned American discount retail
brokerage firm headquartered in St. Louis, Missouri. Its
Founder, President and CEO is Rodger O. Riney. Scottrade
has 500 branch offices around the U.S. Although Scot-
trade has no international branch offices, it does offer
special services to its Asian-Pacific customers with a Chi-
nese service center staffing Chinese-speaking stockbro-
Exterior of the Scottrade Center.
kers.
History
In 1980, Rodger Riney, founder, moved from St. Louis to
Scottsdale, Arizona where he and a partner incorporated
Scottsdale Securities.[3]
In 1981, Riney returned to St. Louis to open a second
branch, but ultimately split apart from his partner in
1985 due to conflicting business models. Riney kept the
company name, Scottsdale Securities, and lowered the
price of commissions to attract more clients. Riney’s ap-
proach was successful and by 1991 the Scottsdale Securi-
ties had a total of 15 branches throughout the US.[4]
Scottrade office, Canton, Michigan
Scottrade.com was launched in 1996 (along with Scot-
r
trader.com to supply streaming online quotes to clients).
1
From Wikipedia, the free encyclopedia Scottrade
During the late-2000s recession Scottrade did not lay off most all managers are promoted from the lower ranks,
any of its associates. In 2008 alone, Scottrade hired 1,000 bucked the recession, laying off no one, hiring more than
new associates and opened 75 new branches despite the 1,000 new associates, and opening 58 new branches. Ben-
economic turmoil.[12] efits include an onsite fitness center and subsidized gym
Scottrade has won numerous awards, most promi- memberships.”[23]
nently those of J.D. Power and Associates. See awards sec- In 2009, Scottrade placed 60th in Fortune’s Top "100
tion below.[13] Best Companies to Work For" List. According to Fortune,
In December 2010, Scottrade opened its 500th branch the major contributor to making the 2009 list was Scot-
office. It is located in the West Side of Manhattan.[14] trade’s ability to shake the turmoil on Wall Street and
achieve its 20 year milestone on October 10 of paying
Services offered quarterly bonuses and never having a layoff. Other fac-
tors were a 25% job growth (390 new jobs) and zero em-
Scottrade renders both online and branch office services ployees outside of the U.S.[24]
including brokerage services, advisment services, invest- In 2008–2009, "Scottrade was ranked No. 1 in investor
ment education, and offers award-winning online trad- satisfaction with online investing services for the eighth
ing platforms, including the Scottrade Trading Web Site, time since 2001, according to J. D. Power and Associates’
ScottradeELITE Advanced Trading Platform, Scottrader 2008 Online Investor Satisfaction Study."[25]
Streaming Quotes, Scottrade OptionsFirst and Scottrade In 2008, Fortune announced "that Scottrade, a leading
Mobile.[15] online investment firm, has been ranked 58th on the 11th
The Scottrade Trading Web Site is Scottrade’s stan- annual ’100 Best Companies to Work For’ list." One of the
dard trading platform with stock screeners; quotes and primary reasons for the ranking, according to the Busi-
research; real-time quotes and charting; account moni- ness Wire article, was job growth. Scottrade hired 46%
toring and a knowledge center.[16] more people in 2007 than 2006, promoted over 500 em-
Scottrader Streaming Quotes provides real-time mar- ployees in 2007, and disclosed that over 20% of Scottrade
ket data and news within a trading platform accessible branch managers "began their Scottrade careers as in-
via the Scottrade Trading Web Site.[17] terns."[26]
ScottradeELITE is an advanced trading platform in- Recently Scottrade was also selected by Computerworld
cluding news columns from both Comtex and Dow Jones, magazine’s 2008 16th best place to work in IT. Many
advanced charts, level two and TotalView quotes, and things were considered when rating the work environ-
stock screeners.[18] ment for technology professionals such as benefits, di-
OptionsFirst, designed by OptionsHouse in 2008, is versity, career development, training and retention. In
a platform allowing complex multi-leg options orders, addition to a comprehensive questionnaire regarding
margin accounts with low minimum deposits, and multi- company offerings, Computerworld conducted an exten-
ple accounts to the same user. All regular common stock sive survey of Scottrade’s IT workers.[27]
and ETF orders are allowed excluding OTCBB and Pink In April 2010, Scottrade was reviewed in CEOWORLD
Sheets.[19] Magazine ranked 2nd Best Online Investments Stock Bro-
Scottrade Mobile, launched in 2009, is a trading web- ker.
site accessible from any internet-enabled mobile de-
vice.[20]
A Scottrade Mobile Application was released for
Competitors
iPhone, iPad, Android, and Blackberry devices on August Competitors in the discount brokerage industry include:
2, 2011.[21] E*TRADE, TD Ameritrade, Fidelity Investments, Charles
Schwab, Firstrade, and TradeKing.
Awards
In 2011, the firm was ranked No. 12 on Fortune’s 14th an-
SEC complaint and settlement
nual "100 Best Companies to Work For" List, a jump of 15 In 2008, the Securities and Exchange Commission
from last year. This was the firm’s fourth consecutive ap- charged the company with making fraudulent misrepre-
pearance on the list. "[Scottrade] thrives by going against sentations to clients. The company settled the dispute by
the grain: Its brokers offer no advice to customers and do paying a $950,000 fine.[28]
not work on commission. Its workplace bucks trends too
— no one has ever been laid off, and no office has ever
been closed.”[22]
Footnotes and references
In 2010, the firm was ranked No. 27 on Fortune’s 13th [1] Scottrade -- Financial Services Inc.com. Retrieved
annual "100 Best Companies to Work For" List. This was January 15, 2011.
the firm’s third consecutive appearance on the list. "Al-
2
From Wikipedia, the free encyclopedia Scottrade
[2] Scottrade improves data center speed, reliability [18] ScottradeELITE – Advanced Trading Tools for the
and efficiency by standardizing on Dell Dell.com. Active Trader Scottrade.com. Retrieved January 10,
Retrieved January 15, 2011. 2011.
[3] About Scottrade | Company History & Timeline [19] Scottrade OptionsFirst – Professional Trading Tools
Scottrade.com. Retrieved January 10, 2011. for Advanced Online Options Trading
[4] About Scottrade | Company History & Timeline Scottrade.com. Retrieved January 10, 2011.
Scottrade.com. Retrieved January 10, 2011. [20] Scottrade Mobile – Research and Trade from Any
[5] About Scottrade | Company History & Timeline Internet-Enabled Mobile Device Scottrade.com.
Scottrade.com. Retrieved January 10, 2011. Retrieved January 10, 2011.
[6] About Scottrade | Company History & Timeline [21] Mobile Trading Website – Scottrade Mobile
Scottrade.com. Retrieved January 10, 2011. Scottrade.com. Retrieved August 03, 2011.
[7] About Scottrade | Company History & Timeline [22] http://finance.yahoo.com/career-work/article/
Scottrade.com. Retrieved January 10, 2011. 111858/best-companies-to-work-
[8] About Scottrade | Company History & Timeline for-2011?mod=career-worklife_balance
Scottrade.com. Retrieved January 10, 2011. [23] http://eon.businesswire.com/news/eon/
[9] About Scottrade | Company History & Timeline 20100121006074/en
Scottrade.com. Retrieved January 10, 2011. [24] CNN. http://money.cnn.com/magazines/fortune/
[10] About Scottrade | Company History & Timeline bestcompanies/2009/snapshots/60.html.
Scottrade.com. Retrieved January 10, 2011. [25] "J.D. Power ranks Scottrade No. 1 in investor
[11] Scottrade Center: Guide to the Scottrade Center - satisfaction." St. Louis Business Journal 25 OCT
History Scottradecenter.com. Retrieved January 10, 2007
2011. [26] "Scottrade Named to Fortune’s``100 Best Companies
[12] About Scottrade | Company History & Timeline to Work For List for the First Time" Forbes.com
Scottrade.com. Retrieved January 10, 2011. Business Wire - Press Release 22 JAN 2008
[13] About Scottrade | Company History & Timeline [27] "Scottrade named 16th Best Place to Work in IT by
Scottrade.com. Retrieved January 10, 2011. Computerworld" Business Wire. June 26, 2008
[14] Scottrade Today Opens Milestone 500th Branch [28] "SEC Charges Scottrade for Misrepresentations to
Office Scottrade.com. Retrieved January 10, 2011. Customers", U.S. Securities and Exchange
[15] About Scottrade | Company Fact Sheets Commission. June 24, 2008. Accessed September 8,
Scottrade.com. Retrieved January 10, 2011. 2010.
[16] Online Trader | Tools for Stock Trading Online
[17]
Scottrade.com. Retrieved January 10, 2011.
Scottrader Streaming Quotes - Real-Time Stock
External links
Quotes and Trading Tool Scottrade.com. Retrieved • Official website
January 10, 2011.
Retrieved from "http://en.wikipedia.org/wiki/Scottrade"
Categories: Financial services companies of the United States, Companies established in 1980, Companies based in St.
Louis County, Missouri, Online brokerages, Economy of Scottsdale, Arizona
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