Whatever Happened to Scottrade?
If you were a stockholder between 1980 and 2017, you may have used Scottrade as your brokerage firm. The company, which was founded by Rodger O. Riney in Scottsdale, Arizona, had over 3 million American accounts and over $170 billion in assets when it closed its doors in 2017.
Scottrade offered both in-person and online trading, though most of its transactions were made online during the 2000s and 2010s, despite having over 500 physical locations. The company generally received positive reviews and was often considered a top brokerage to work for, though it did suffer through a few controversies, like a database hack and a violation of federal security laws. But, ultimately, it was purchased by another company. Find out what happened to Scottrade and why.