ST. LOUIS--(BUSINESS WIRE)--For the seventh consecutive year, St. Louis-based financial services company, Scottrade, Inc., earned a spot on the InformationWeek 500 list of the nation’s top innovators. Scottrade ranked No. 97 on this year’s list for advancing the growth and success of its business unit, Scottrade® Advisor Services.
“To support the growth of Scottrade® Advisor Services, we did a complete redesign of our system architecture,” said Brian A. Davis, senior vice president and Head of Scottrade® Advisor Services. “Our IT and business teams worked hand-in-hand to identify what enhancements and services our advisors need to be successful. This collaboration resulted in a 75 percent time savings for our advisors.”
Since its founding in 2005, Scottrade® Advisor Services has grown to be one of the nation’s 10 largest custodians, with 1,250 registered investment advisors using its services.
Scottrade’s IT team built new block order trading and enhanced mutual fund order management features, which required a major technology update to its existing system applications. Aligning with the Future-State CIO® methodology of uniting business and IT, the blended development team consisted of 14 members who delivered this update to advisors within 30,000 hours.
“The theme of this year’s InformationWeek 500 is digital business. It’s a movement, rooted in data analytics, mobile computing, social networking and other customer-focused technologies that are turning companies and industries on their ear,” said InformationWeek Editor In Chief Rob Preston. “Every enterprise is now a digital business — or needs to become one fast. The companies in our ranking are leading the way.”
2013 marks the seventh consecutive year Scottrade has received the InformationWeek 500 recognition.
- In 2012, for addressing its clients’ needs through an IT initiative that released the most comprehensive mobile trading application available.
- In 2011, for its seamless online bank deposit program that offers eligible clients additional FDIC insurance for their uninvested cash.
- In 2010, for its expanded mutual funds offering. Scottrade streamlined its mutual fund operations.
- In 2009, for its Web 2.0 technology that replaced its Intranet with an innovative solution to enable associates to easily publish, update and share information.
- In 2008, for its MultiProtocol Label Switching technology that increased bandwidth at most of the company’s nationwide branch offices by more than 600 percent, enabling associates to more effectively stream and download data when assisting clients.
- In 2007, for its redundant state-of-the-art data center, which included a redesigned network and seamless migration of existing systems within a one-year timeframe.
InformationWeek identifies and honors the nation’s most innovative users of information technology with its annual InformationWeek 500 listing, and also tracks the technology, strategies, investments, and administrative practices of some of the best-known organizations in the country. Additional details on the InformationWeek 500 can be found online at www.informationweek.com/iw500.
About Scottrade, Inc.
Scottrade, Inc.’s mission is to improve lives by helping people overcome barriers to financial success. The online investment services firm was founded in 1980 to provide investors with a better way to invest and make their own trading decisions. Today, Scottrade has the largest branch network among any online brokerage and empowers clients through online trading tools and stock market research to buy stocks online, many at just $7 per trade. To learn more about the company awarded “Highest in Investor Satisfaction With Self-Directed Services” in the J.D. Power 2013 U.S. Self-Directed Investor Satisfaction StudySM and one of FORTUNE® magazine’s “100 Best Companies to Work For,” visit about.scottrade.com or www.scottrade.com and follow us on Facebook, Twitter, YouTube and Flickr. Member FINRA/SIPC.
About Scottrade® Advisor Services
Scottrade® Advisor Services is a business unit of Scottrade, Inc., dedicated to supporting the needs of independent registered investment advisors. Scottrade® Advisors Services’ low commissions coupled with personalized customer service through dedicated relationship teams, makes Scottrade® Advisor Services an exceptional value for 1,250 current advisors to help grow their practice. With no advisor enrollment fee, Scottrade® Advisor Services has the account management tools for advisor practices of any size. For more information, visit advisor.scottrade.com and follow us on Twitter and LinkedIn.
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© 2013 Scottrade, Inc. All rights reserved.
Scottrade®, the Scottrade® logo and Scottrade® Advisor Services are the registered trademarks of Scottrade, Inc.
Investors should consider the investment objectives, risks, charges, and expenses of mutual fund carefully before investing. Mutual funds are subject to market fluctuation including the potential for loss of principal. A prospectus contains this and other information about the fund and may be ordered through www.scottrade.com or through a Scottrade branch office. The prospectus should be read carefully before investing.