Scottrade, a branch-supported online investment firm, has been ranked, "Highest in Investor Satisfaction with Self-Directed Services" in a J.D. Power and Associates' 2008 Self-Directed Investor Satisfaction StudySM. The study included 5,796 self-directed investors, the majority of whom trade online. Scottrade received a total satisfaction index score of 787, which is 59 points higher than the industry average score of 728. According to J.D. Power and Associates, Scottrade ranked higher than all of its competitors in the study, which examined six key drivers of customer satisfaction: Convenience, account offerings, information resources, trade execution, trading charges and fees, and customer service.
Scottrade was first recognized by J.D. Power and Associates for highest online investor satisfaction in 2001. This award marks Scottrade's eighth investor satisfaction award from J.D. Power and Associates. This year, J.D. Power and Associates updated the study's title and focus from "Online Investment Services" to "Self-Directed Investing Services." As mobile and other media channels become more popular with investors, expanding the focus ensures a broad but clear distinction between self-directed and full-service, full-fee investment services.
"We are honored to have earned the trust and confidence of our customers," said Rodger Riney, founder, president and CEO of Scottrade, in a press release. "In today's tough economy, it is more important than ever for investors to have confidence in their financial services firms. We continue to foster customer satisfaction by making significant investments in our customer service and local branch network," he said. Scottrade helps self-directed individual investors by providing easy-to-use trading platforms and advanced research tools that help them find opportunities in the market more quickly. In addition to $7 online trades, Scottrade offers customers a nationwide network of more than 375 branch offices, the largest branch network in the online brokerage industry. The firm's branch network has grown 15 percent in the last 12 months and the firm plans to grow the network another 15 percent in 2009.