founder of Scottrade
Rodger O. Riney (born 1946) is the CEO and founder of Scottrade, an online discount brokerage firm headquartered in St. Louis, Missouri.
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.
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.
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 internet trading in the 1990s. Scottrade has over 500 branch offices nationwide and offers managed services for clients who are seeking fee based advice. The company offers a full range of banking services to retail clients and makes commercial loans to small business.
Riney’s management methods are described as conservative. He stated his intention to maintain private ownership and is against merging. In 2013 Scottrade was cited as 53rd in the top 100 companies to work for.