Scottrade, Edward Jones honored by Fortune

By Erin Taylor
Staff writer

This week's issue of Fortune magazine names two companies headquartered in West County to its annual "100 Best Places to Work for" list.

Edward Jones, a financial services firm, and Scottrade, an online investment firm, were named to the magazine's 11th annual list. Edward Jones ranked fourth while Scottrade was ranked 58th.

It is Scottrade's first appearance and Edward Jones' ninth on the list. Edward Jones was ranked first in 2002 and 2003.

Fortune magazine editors said a driving factor in the list was the number of jobs created by the companies. In

2007, Scottrade hired more than 500 people, a 46 percent increase compared to 2006, company officials said. More than 500 associates were promoted in 2007, a 27 percent increase from the prior year.

Edward Jones firm associates in the St. Louis home office got a 6.5 percent raise last year, according to the company, and opened 1,000 new offices nationwide.

Two-thirds of companies' scores are based on results from surveys sent to at least 400 randomly selected employees from each company. Rankings also are based on scores from company responses to the Institute's Culture Audit, which includes questions about pay and benefit programs and questions about hiring practices, methods of internal communications, training, recognition programs and diversity efforts.

Erin Eschen of Creve Coeur began working for Scottrade less than a year ago. She leads a marketing team and is a webmaster for Scottrade.com.

Eschen said she was attracted to Scottrade because of the opportunities available for employee growth.

She said the company also rewards employees through an "Above and Beyond" rewards program, an internal wellness program and by providing opportunities to give back to the community.

"I'd only worked here for six months when I had my gym membership reimbursed," Eschen said.

Eschen said the "Above and Beyond" recognition program allows employees to reward and thank one another for a job well done. She said the program builds teamwork and allows co-workers not on an individual's team, but with whom they work, to build relationships.

"A lot of people here love what they're doing and are able to find their fit within the company," Eschen said. "It's not the most tangible thing in the world, but you can feel it."

For John Callahan, a financial adviser for an Edward Jones branch in Clayton, his decision to make the change from sales management to the financial industry was about using the skills he already had learned in other industries.

Callahan made the move to Edward Jones eight years ago in the middle of his career. He said the company is quick to reinvest money back into its employees through extensive training programs.

"I've worked with several other large Fortune 500 companies, but since Edward Jones is not publicly traded but a limited partnership, the firm is able to invest in its employees and not the shareholders," Callahan said.

He said the company's philosophy allowed him to run his own office and build real relationships with clients rather than cold-calling from a cubicle.

Scottrade employs more than 800 people at its corporate office in Des Peres and six of its area branches. Edward Jones employs 4,712 associates in the St. Louis area.

You can contact Erin Taylor at etaylor@yourjournal.com.