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Scottrade is ramping up marketing -- with an interim leader at the helm

The St. Louis-based discount broker has big momentum and a big position to fill

Author Brooke Southall February 24, 2010 at 7:33 AM
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Steve Walkenbach is heading Scottrade's RIA custody unit but the company is seeking a replacement for Doug Talir

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Biz Briefs: The sorry scene at my local First Republic branch • Schwab launches new (smaller) lay-off round • Schwab hoovers pennies passing FINRA fee to clients • Gensler pleas for funds • Fidelity owner's private equity pres. retires • an Orion-Envestnet staff switcheroo • LPL dumps FutureAdvisor

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April 29, 2023 at 1:36 AM

Fidelity will hire 4,000 staff in first half -- a staggering number but a tapering off from 'unprecedented' rate in 2021-2022 that catapulted it to 68,000 employees

The $10.3 trillion giant explains its hiring -- in a layoff environment -- as an RIA-like goal, namely having the human bandwidth to develop 'lifetime' relationships with its 40 million investors

February 17, 2023 at 2:49 AM

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Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally

Scottrade Advisor Services
Asset Custodian
Top Executive: Brian Stimpfl




Mike

Mike

February 19, 2014 — 7:35 PM

This should be updated. Scottrade does have a minimum AUM, but will not disclose that to anyone. I started my own RIA from scratch and used Scottrade. After only a few months I received a letter asking me to find a new custodian due to low client base and low account activity. This is even after they initially promised me that a slow start would not be a problem. There were also many other advisors who received the same letter. Anyway, I have since moved elsewhere and it’s working much better without Scottrade.

Brooke Southall

Brooke Southall

February 19, 2014 — 8:25 PM

Thanks for this update,

Give me a call if you get a sec.

Brooke
415-389-8207

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