Rodger O. Riney

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Rodger O. Riney (born 1946)[1] is the CEO and founder of Scottrade, an online discount brokerage firm headquartered in St. Louis, Missouri.[2]

Early life[edit]

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][3]

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.[2]

Scottrade[edit]

After the degulation 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.[2]

In 1982, Scottrade branched out from Scottsdale, Arizona, promoting discounted commissions for trades placed by telephone. Rodger introduced internet trading in the 1990s. His motto, "Don't overprice yourself. It's a lot easier to start a business by being a value provider as opposed to having premium prices," was the key difference between rival competitors and resulted in major business expansions.[3]

Riney's management methods are described as conservative. He stated his intention to maintain private ownership and is against merging.[1]

Riney attempts to create a friendly environment at work. In 2013 Scottrade was cited as 53rd in the top 100 companies to work for.[4]

Personal life[edit]

Riney actively supports non-profit organizations, including the Alzheimer's Association, the Humane Society of the United States, and the Salvation Army.[2]

References[edit]

  1. ^ a b "Scottrade: Not The Marrying Kind". Bloomberg Businessweek Magazine. 2005-07-31. 
  2. ^ a b c d e "Rodger Riney". Scottrade. 
  3. ^ a b Reerink, Jack (2011-06-09). "Scottrade CEO's secret sauce: Cheap & good". Reuters. 
  4. ^ Catherine Dunn (2013-10-31). "One big happy brokerage". CNN. 

External links[edit]