Scottrade Financial Services announced that both Scottrade Investment Management and Scottrade Bank have reached key milestones. Scottrade Investment Management has surpassed $2 billion in assets under management. Scottrade Bank has exceeded $3 billion in total loans.
Scottrade has evolved over time and become a much more diversified company. Scottrade Investment Management offers things such as managed portfolios and financial advice. It was founded in 2014 as an affiliate of Scottrade. In the summer of 2015, Scottrade Investment Management surpassed $1 billion in assets under management. Less than a year later it has crossed the $2 billion mark.
Scottrade Bank was formed in 2011. Scottrade Bank Equipment Finance has been a big area of focus, and that has paid off with the bank being recognized by the Monitor as one of the 100 largest equipment finance and leasing companies in the United States by annual volume and size. Chris McCormish, Scottrade Bank President, said, “Scottrade Bank is bigger than you think and we’re bringing more value to our clients and their communities than you may have realized.”
Scottrade decided to diversify a few years ago, and now they have met a couple of important milestones at two key business.
Click here for the full press release from Scottrade.