Rodger O. Riney

Rodger O. Riney (born 1946)[1] is the former CEO and founder of Scottrade, a discount brokerage that was acquired by TD Ameritrade.

Early life

Riney was born in 1946 and was introduced to the stock market by his grandparents after giving him 10 shares of a stock. He attended college in the 1960s and worked in the financial services industry. He interned at Edward D. Jones & Company.[2]

Riney earned a Bachelor of Science in Civil Engineering and a Masters in Business Administration from the University of Missouri. He and his wife, Paula, are members of Kirkwood Baptist Church in St. Louis County, Missouri.

Career

After the deregulation of the brokerage industry in 1975, Rodger saw an opportunity to provide lower commission trades. In 1980, he founded Scottrade in Scottsdale, Arizona under the name of Scottsdale Securities.

In 1982, Scottrade branched out from Scottsdale, Arizona, promoting discounted commissions for trades placed by telephone. Riney introduced investing online in the 1990s.[2]

Riney's management methods are described as conservative. He stated his intention to maintain private ownership and is against merging.[1] In 2013, Scottrade was cited as 53rd in the top 100 companies to work for.[3]

In 2017, Scottrade was acquired by TD Ameritrade for $4 billion.[4]

Personal life

Riney actively supports non-profit organizations, including the Alzheimer's Association, the Humane Society of the United States, and the Salvation Army.

References

  1. 1 2 "Scottrade: Not The Marrying Kind". Bloomberg Businessweek Magazine. 2005-07-31.
  2. 1 2 Reerink, Jack (2011-06-09). "Scottrade CEO's secret sauce: Cheap & good". Reuters.
  3. ↑ Catherine Dunn (2013-10-31). "One big happy brokerage". CNN. Archived from the original on 2014-03-02.
  4. ↑ Bloomberg, Brendan Coffey •. "Soon to be one of the world's richest people: Scottrade's Rodger Riney". stltoday.com. Retrieved 2018-01-16.
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