Scottrade is a privately owned American discount brokerage firm that operates both online and at retail locations. The company was founded in 1980 by Rodger O. Riney, its CEO. In 1980, Rodger Riney founded Scottsdale Securities as a retail discount brokerage; the company moved to St. Louis in 1981. The company offered no investing advice or analysis and took orders over the phone or in person. In 1996, Scottsdale Securities began offering brokerage services online; the new service increased the volume of trades the company managed by an average of 15% per month.