ST. LOUIS--(BUSINESS WIRE) --Oct. 04, 2010-- Leading online investing firm Scottrade promoted Brian Davis to lead Scottrade Advisor Services, a division of the firm that offers low-cost institutional trading and custodial services to independent registered investment advisors (RIAs).
Davis began his Scottrade career in 2003 after working as an investment advisor, and in the retail brokerage and retail banking industries. When Scottrade Advisor Services became established in 2005, Davis assumed the role of its business development manager working to recruit RIAs to Scottrade while assisting them with the delivery of an easy-to-use website and advancing account management tools for advisor practices of any size.
"Scottrade is committed to offering advisors in any stage of their careers the same great tools, personalized customer service and real-time business support, regardless of their assets under management," Davis said. "Unlike many of our competitors, Scottrade does not have a minimum asset fee because we do not have a minimum asset requirement. This cost savings allows advisors to reallocate their finances to other business needs such as compliance, technology or other start-up costs."
Further separating Scottrade Advisor Services from other companies in the space, Scottrade does not provide in-house financial advice or investment recommendations as part of its retail business model. "This allows Scottrade to serve as a true business partner to RIAs, not a competitor to the advisors it serves," Davis said.
During 2009, the number of advisors using Scottrade Advisor Services grew by more than 44 percent from 2008. Input from these advisors helped Scottrade Advisor Services continue to improve its trading tools and expand its product availability. That same year, Scottrade Advisor Services' platform broadened to enable institutional block trading, advanced cost basis reporting, and additional products and services including, institutional mutual funds, an online community, the practice management e-newsletter and portfolio reporting solutions through Portfolio DirectorTM planning tools.
"Brian is passionate about Scottrade Advisor Services and expanding its influence," said Steve Walkenbach, Scottrade's executive director who oversees the firm's business and product development activities. "He knows that it's our low commissions, coupled with personalized customer service through dedicated relationship management teams, that makes Scottrade Advisor Services an attractive resource, and that's what drives him to continue to deliver an exceptional value for advisors looking to grow their practices."
About Scottrade
As a leading online investing firm, Scottrade offers a full line of investment products, online trading services and market research tools to help investors take control of their financial future. Founded in 1980, Scottrade is dedicated to personalized customer service and value, providing customers the convenience of buying many stocks online at just $7 per trade and the support of the largest branch network among online investment firms, with more than 475 nationwide branch offices. Scottrade has been named one of FORTUNE magazine's "100 Best Companies to Work For" in America for three consecutive years. For more information, visit www.scottrade.com and follow us on Facebook, Twitter, YouTube and Flickr.
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CONTACT: Scottrade
Shawn Dooley, 314-965-1555 x1103
sdooleyscottrade.com
KEYWORD: UNITED STATES NORTH AMERICA MISSOURI
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SOURCE: Scottrade Copyright Business Wire 2010 http://www.businesswire.com/news/home/20101004006689/en