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While other online investment firms are losing established investors faster than they can replace them, St. Louis-based Scottrade is seeing an increase in clients and in customer satisfaction.
Scottrade recently ranked No. 1 in customer satisfaction in J.D. Power and Associates' 2001 Semiannual Online Trading Investor Satisfaction Study.
"In the past, the largest firms have dominated," Rodger Riney, Scottrade founder and president, said of the survey. "This is the first time a company of our size (141 offices and 70 employees) took first place. We feel very proud of that."
In assessing his company's top rating in the J.D. Power survey, Riney cited these factors:
* Unlike some of its competitors, St. Louis-based Scottrade has resisted adding an inactivity fee to dormant accounts. "The investor has been punished enough in the market in the last 18 months," Riney said.
* Scottrade has not reduced staff or instituted layoffs despite a weakened...