Rodger Riney’s profile picture

Rodger Riney

President and CEO, Scottrade
Rodger Riney’s profile picture
Net worth 2018: $3.75 Billion
Residence: St. Louis, Missouri
Country: United States
Children: 3
Education: Bachelor of Arts / Science, University of Missouri; Master of Business Administration, University of Missouri
BIOGRAPHY

Rodger Riney was born in St. Louis, Missouri, United States, is President and CEO, Scottrade. Rodger Riney founded the discount brokerage firm Scottrade in 1980 in Scottsdale, Arizona with a partner whom he bought out in 1985. Riney, who has served as CEO, expanded the firm; it has 3 million client accounts with a total $170 billion in assets under management. After business school, he reportedly turned down a job at a top engineering firm and joined a Missouri investment company for less pay. A decade later, he quit his job, drove 1,500 miles from St. Louis to Scottsdale, Ariz. in his 1970 Chevy Corvette and cofounded Scottrade. In October 2016, Joe Ricketts' TD Ameritrade said it would acquire Scottrade for $4 billion in cash and stock; the deal closed in September.

NET WORTH STATISTIC
2017

$3.5 Billion

2018

$3.75 Billion

From the very early days until today, I have been surrounded by good people who just want to work hard and help others. It is just incredible.

Rodger Riney
TIMELINE
Rodger O. Riney (born 1946) is the former 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.In 2017, Riney completed the sale of Scottrade to TD Ameritrade for an estimated $4 billion.Riney actively supports non-profit organizations, including the Alzheimer's Association, the Humane Society of the United States, and the Salvation Army.
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