Scottrade as a custodian

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Jan 22, 2009 6:36 pm

Hey guys,

 
I'm just wondering if any of you are using scottrade as your custodian.  Seems like their ticket costs seem unbeateable ($7 dollars per trade) and they don't have any minimum AUM requirements. Here is their website:
 
https://www.scottradeadvisor.com/login.asp
 
Does anyone here have an personal experience with them and can name a few pros and cons?
 
Thanks!
Feb 26, 2009 8:45 am

I use Scottrade as a custodian.



Pros:Good customer service, friendly, cheap



Cons: No client reporting software, manual billing,



I've been with them a little over a year. They suit my small practice well.

Mar 6, 2009 12:07 pm

First time poster, long time lurker...

I am also interested in using Scottrade as a custodian, so if anyone else has any stories about them (good or bad), I'd love to hear them.

Intrigued, I sent you a PM.

Mar 6, 2009 5:12 pm

The guy who started it used to work for EDJ...

 
So what do you use for client reporting software? Billing?
Mar 6, 2009 5:15 pm

Talked to TradePMR a few days ago, they seem like a good outfit, no AUM requirement, but the ticket charges were a little high(no big deal if you pass onto clients)

Mar 6, 2009 7:58 pm

Yeah, I talked to TradePMR also, and agree with what you said. I'd like to keep my portfolios low-fee, using mostly index funds and ETFs, so the costs are very important. They were very knowledgeable and helpful, though.