Difference between revisions of "Scottrade"

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| company_logo = [[Image:Scottrade.gif]]
| company_logo = [[Image:Scottrade.gif]]
| key_people = President and CEO Rodger O. Riney
| key_people = President and CEO Rodger O. Riney
| foundation =  1980
| foundation =  1980| location =  St. Louis
| location =  St. Louis
| employees = 1,584
| employees = 1,584
| products = Online discount brokerage products and services
| products = Online discount brokerage products and services
| homepage = http://www.scottrade.com}}
| homepage = http://www.scottrade.com}}


{{Infobox Midpage Need Sponsor}}
Scottrade evolved from a small discount brokerage serving retail [[investor]]s in Arizona to a powerful global online [[trading platform]] that usually ranks in the top 10 in Internet-[[brokerage]] surveys. Scottrade has scored industry accolades for customer loyalty, employee training and workplace environment.


Scottrade evolved from a small discount brokerage serving retail investors in Arizona to a powerful global online [[trading platform]] that usually ranks top-10 in Internet-brokerage surveys. Scottrade recently scored industry accolades for customer loyalty, employee training and workplace environment but was also fined almost $1 million by market regulator the [[SEC]]
Scottrade had about $170 billion in client assets as of September 2016. It has approximately 500 retail branches.


== History ==
== History ==
Scottrade was founded by Rodger Riney as Scottsdale Securities in Scottsdale, AZ in 1980 and opened its first two branch offices in Phoenix, AZ and St. Louis, MO later that year. In 1981 Riney moved Scottsdale Securities' headquarters to St Louis and by 1990 the firm had grown to 14 branch offices around the USA and then to 57 by 1995 and 200 by 2004.<ref>{{cite web|url=http://www.scottrade.com/about_online_discount_broker/discount_brokerage_firm_history.asp|name=A Brief History of Scottrade, Inc.|org=Scottrade|date=July 2, 2008}}</ref>


Scottrade was launched by Rodger Riney as Scottsdale Securities in Scottsdale, AZ in 1980 and opened its first two branch offices in Phoenix, AZ and St. Loiuis, MO later that year. In 1981 Riney moved Scottsdale Securities' headquarters to St Louis and by 1990 the firm had grown to 14 branch offices around the U.S.A. and then to 57 by 1995 and 200 by 2004.<ref>{{cite web|url=http://www.scottrade.com/about_online_discount_broker/discount_brokerage_firm_history.asp|name=A Brief History of Scottrade, Inc.|org=Scottrade|date=July 2, 2008}}</ref>
Today Scottrade has the largest branch network of any discount broker in the US, with 350 offices and 2,000 employees nationwide and offering over 9,500 [[mutual fund]]s as well as [[securities]], [[bond]]s and [[options]] trading. Scottrade's 1.7 million customers chalked up [[revenue]] in 2007 of just over $1 billion,<ref>{{cite web|url=http://www.hoovers.com/scottrade/--ID__103377--/free-co-profile.xhtml|name=Scottrade Company Description|org=Hoovers|date=July 2, 2008}}</ref> up from $789 million the previous year.
 
Today Scottrade has the largest branch network of any discount broker in the US, with 350 offices and 2,000 employees nationwide and offering over 9,500 mutual funds as well as securities, bonds and options trading. Scottrade's 1.7 million customers chalked up revenue in 2007 of just over $1 billion,<ref>{{cite web|url=http://www.hoovers.com/scottrade/--ID__103377--/free-co-profile.xhtml|name=Scottrade Company Description|org=Hoovers|date=July 2, 2008}}</ref> up from $789 million the previous year.


== Awards Show ==
== Awards Show ==
 
Earlier this year, Scottrade won its third consecutive [[Brand Keys Customer Loyalty Engagement Index]] in the online brokerage category and its second successive Top-125 ranking for excellence in employee training and development by ''Training'' magazine.<ref>{{cite web|url=http://www.scottrade.com/about_online_discount_broker/online_trading_awards.asp|name=Awards|org=Scottrade|date=July 2, 2008}}</ref> And in January 2008, Scottrade made [[Fortune]] magazine's 100 Best Place to Work in the US for the first time, with the magazine citing Riney's eye for young talent and Scottrade's policy of hiring 200 new college interns per year.<ref>{{cite web|url=http://money.cnn.com/magazines/fortune/bestcompanies/2008/snapshots/58.html|name=58. Scottrade|org=Fortune|date=July 2, 2008}}</ref>
Earlier this year Scottrade won its third consecutive Brand Keys Customer Loyalty Engagement Index in the online brokerage category and its second successive Top-125 ranking for excellence in employee training and development by Training magazine.<ref>{{cite web|url=http://www.scottrade.com/about_online_discount_broker/online_trading_awards.asp|name=Awards|org=Scottrade|date=July 2, 2008}}</ref> And in January 2008 Scottrade made [[Fortune]] magazine's 100 Best Place top Work in the US for the first time, with the magazine citing Riney's eye for young talent and Scottrade's policy of hiring 200 new college interns per year.<ref>{{cite web|url=http://money.cnn.com/magazines/fortune/bestcompanies/2008/snapshots/58.html|name=58. Scottrade|org=Fortune|date=July 2, 2008}}</ref>


== Key People ==
== Key People ==
[[Image:Rineysmall.jpg|float|left]] Scottrade's president and CEO Rodger O. Riney founded the brokerage in 1980 after a stint as general partner with St. Louis-based retail brokerage Edward Jones, with the idea of providing deep discounts on brokerage to retail investors.<ref>{{cite web|url=http://www.scottrade.com/about_online_discount_broker/discount_broker_CEO.asp|name=Rodger O. Riney, Founder, President, Chief Executive Officer, Scottrade, Inc.|org=Scottrade|date=July 3, 2008}}</ref>  As an expert in financial technology, Riney quickly adopted the Internet to develop part of Scottrade's business<ref>{{cite web|url=http://dallas.bizjournals.com/gen/executive.html?excode=CD79F94F64E74905974911B0F0FCE7BF|name=Rodger O. Riney, Founder, President, Chief Executive Officer, Scottrade Inc.|org=American Cities Business Journals|date=July 3, 2008}}</ref> into one of the first web-based discount brokers, launching the company's online trading platform now known as Scottrader in 1996.


[[Image:Rineysmall.jpg|float|left]] Scottrade's president and CEO Rodger O. Riney<ref>{{cite web|url=http://www.scottrade.com/about_online_discount_broker/discount_broker_CEO.asp|name=Rodger O. Riney, Founder, President, Chief Executive Officer, Scottrade, Inc.|org=Scottrade|date=July 3, 2008}}</ref> founded the brokerage in 1980 after a stint as general partner with St. Louis-based retail brokerage Edward Jones, with the idea of providing deep discounts on brokerage to retail investors. As an expert in financial technology, Riney quickly adopted the Internet to develop part of Scottrade's business<ref>{{cite web|url=http://dallas.bizjournals.com/gen/executive.html?excode=CD79F94F64E74905974911B0F0FCE7BF|name=Rodger O. Riney, Founder, President, Chief Executive Officer, Scottrade Inc.|org=American Cities Business Journals|date=July 3, 2008}}</ref> into one of the first web-based discount brokers, launching the company's online trading platform now known as Scottrader in 1996. Riney's Internet play paid off quickly by boosting monthly trade volumes 15%, and by 2000 90% of all Scottrade's client[[transaction]]s were made online.<ref>{{cite web|url=http://www.bizjournals.com/stlouis/stories/2000/06/19/focus9.html|name=Rodger Riney, Scottrade Inc.|org=St. Louis Business Journal|date=July 3, 2008}}</ref> Nonetheless, he has also stayed committed to expanding Scottrade's network of beranch offices, believing the two channels complement each other. Riney has also become well-known to non-network television viewers for his folksy Scottrade commercials that tout his entrepreneurial youth in customer service.
Riney's Internet play paid off quickly by boosting monthly trade volumes 15 percent, and by 2000 90 percent of all Scottrade's client transactions were made online.<ref>{{cite web|url=http://www.bizjournals.com/stlouis/stories/2000/06/19/focus9.html|name=Rodger Riney, Scottrade Inc.|org=St. Louis Business Journal|date=July 3, 2008}}</ref> Nonetheless, he has also stayed committed to expanding Scottrade's network of branch offices, believing the two channels complement each other. Riney has also become well-known to non-network television viewers for his folksy Scottrade commercials that tout his entrepreneurial youth in customer service.  
 
== Latest News ==


== SEC Fine ==
In late June, 2008 Scottrade agreed to pay a fine of $950,000 to settle charges by the [[SEC]] that between 2001 and 2004 the firm misled customers trying to place NASDAQ pre-open orders. The SEC alleged Scottrade did not conduct enough research to back up claims the brokerage made about extra liquidity at market opening.<ref>{{cite web|url=http://www.bizjournals.com/columbus/stories/2008/06/23/daily15.html|name=Scottrade settles SEC allegations for $950K|org=American Cities Business Journals|date=July 3, 2008}}</ref> Scottrade officials say they have since made adjustments for new NASDAQ market structures to rectify the claims.
In late June, 2008 Scottrade agreed to pay a fine of $950,000 to settle charges by the [[SEC]] that between 2001 and 2004 the firm misled customers trying to place NASDAQ pre-open orders. The SEC alleged Scottrade did not conduct enough research to back up claims the brokerage made about extra liquidity at market opening.<ref>{{cite web|url=http://www.bizjournals.com/columbus/stories/2008/06/23/daily15.html|name=Scottrade settles SEC allegations for $950K|org=American Cities Business Journals|date=July 3, 2008}}</ref> Scottrade officials say they have since made adjustments for new NASDAQ market structures to rectify the claims.


== References ==
== References ==
<references />
<references />

Latest revision as of 10:53, 24 October 2016



Scottrade, Inc.
Scottrade.gif
Founded 1980
Headquarters St. Louis
Key People President and CEO Rodger O. Riney
Employees 1,584
Products Online discount brokerage products and services
Website http://www.scottrade.com

Scottrade evolved from a small discount brokerage serving retail investors in Arizona to a powerful global online trading platform that usually ranks in the top 10 in Internet-brokerage surveys. Scottrade has scored industry accolades for customer loyalty, employee training and workplace environment.

Scottrade had about $170 billion in client assets as of September 2016. It has approximately 500 retail branches.

History[edit]

Scottrade was founded by Rodger Riney as Scottsdale Securities in Scottsdale, AZ in 1980 and opened its first two branch offices in Phoenix, AZ and St. Louis, MO later that year. In 1981 Riney moved Scottsdale Securities' headquarters to St Louis and by 1990 the firm had grown to 14 branch offices around the USA and then to 57 by 1995 and 200 by 2004.[1]

Today Scottrade has the largest branch network of any discount broker in the US, with 350 offices and 2,000 employees nationwide and offering over 9,500 mutual funds as well as securities, bonds and options trading. Scottrade's 1.7 million customers chalked up revenue in 2007 of just over $1 billion,[2] up from $789 million the previous year.

Awards Show[edit]

Earlier this year, Scottrade won its third consecutive Brand Keys Customer Loyalty Engagement Index in the online brokerage category and its second successive Top-125 ranking for excellence in employee training and development by Training magazine.[3] And in January 2008, Scottrade made Fortune magazine's 100 Best Place to Work in the US for the first time, with the magazine citing Riney's eye for young talent and Scottrade's policy of hiring 200 new college interns per year.[4]

Key People[edit]

float

Scottrade's president and CEO Rodger O. Riney founded the brokerage in 1980 after a stint as general partner with St. Louis-based retail brokerage Edward Jones, with the idea of providing deep discounts on brokerage to retail investors.[5] As an expert in financial technology, Riney quickly adopted the Internet to develop part of Scottrade's business[6] into one of the first web-based discount brokers, launching the company's online trading platform now known as Scottrader in 1996.

Riney's Internet play paid off quickly by boosting monthly trade volumes 15 percent, and by 2000 90 percent of all Scottrade's client transactions were made online.[7] Nonetheless, he has also stayed committed to expanding Scottrade's network of branch offices, believing the two channels complement each other. Riney has also become well-known to non-network television viewers for his folksy Scottrade commercials that tout his entrepreneurial youth in customer service.

SEC Fine[edit]

In late June, 2008 Scottrade agreed to pay a fine of $950,000 to settle charges by the SEC that between 2001 and 2004 the firm misled customers trying to place NASDAQ pre-open orders. The SEC alleged Scottrade did not conduct enough research to back up claims the brokerage made about extra liquidity at market opening.[8] Scottrade officials say they have since made adjustments for new NASDAQ market structures to rectify the claims.

References[edit]