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# Rodger Riney

Random fact: Scottrade started in 1980 and moved online in 1996.

Overview

Riney is special adviser to TD Ameritrade, the company that acquired his Scottrade Financial Services firm for about $4 billion in cash and stock in September 2017. Riney founded his discount brokerage in 1980 and sold the last of his TD Ameritrade stock in December 2017. TD Ameritrade services more than 11 million client accounts.

As of June 19, 2018:
Last change ()
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Industry Finance
Biggest asset N/A
Citizenship United States
Age 70
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Rodger Riney's net worth of can buy ...

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Latest News

Net Worth Summary

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Biography

Birthdate:
Family: Married, 3 children
Education: 1969, University of Missouri, MBA 1968, Engineering, University of Missouri Kansas City, Bachelor's Degree

Born in St. Louis, Missouri, Riney was first introduced to the stock market after his grandparents gave him a few shares of Bethlehem Steel when he was about ten years old, according to a biograhy of the executive in the 2010 Scottrade annual report. While in college, Riney worked as an unpaid intern at Edward D. Jones & Co., marking the front quote board. After graduating from the University of Missouri with an engineering degree and an MBA in finance, Riney returned to Jones, turning down offers to work as a civil engineer.

He rose quickly within Jones and worked in nearly every division until 1980 when he decided to leave the brokerage and open his own company with a partner. The new brokerage was initially called Scottsdale Securities, and the first office was opened in Scottsdale, Arizona. The next year, Riney moved back to St. Louis and opened the second branch. Riney bought out his partner in 1985 and moved the headquarters to Missouri.

The company became one of the first to offer online trading when they opened the Scottrade.com website in 1996. Four years later, the name was changed to Scottrade Inc. to reflect the website.

Riney announced in a statement in 2015 that he was undergoing treatment for multiple myeloma, a form of blood cancer. 

In September 2017, he sold Scottrade to competitor TD Ameritrade and became an adviser to the company.

He lives in St. Louis, Missouri, and has three children.

Milestones
  • 1980 Founds Scottsdale Securities.
  • 1985 Riney buys out partner to become sole owner of Scottsdale Securities.
  • 1996 Company launches website, becomes one of the first online trading platforms.
  • 2000 Company changes name to Scottrade to reflect the name of the website.
  • 2003 Launches Chinese-language trading website.
  • 2008 Establishes Scottrade Bank with 75 branch offices.
  • 2014 Launches investment management division, Scottrade Investment Management.
  • 2017 Sells Scottrade for $4 billion in cash and TD Ameritrade shares.