Scottrade Expands Mutual Funds Offering

Scottrade now touts a larger selection of institutional class mutual funds for registered investment advisers (RIA) to choose from.

The investing firm said today that it expanded its mutual fund offering to more than 14,500 mutual funds, including institutional share classes, load-waived funds, and triple the number of no-transaction fee (NTF) funds previously available.

Steve Walkenbach, Scottrade’s executive director of business and product development, said the addition is “evidence of Scottrade’s commitment to providing complete mutual fund services to the growing registered investment adviser (RIA) community that we serve through Scottrade Advisor Services.”

RIAs that custody through Scottrade Advisor Services now have access to more institutional class mutual funds and load-waived funds, the firm said.

As part of the expansion in its retail offering, Scottrade added resources to help investors decide if a fund meets their individual investing objectives. The mutual fund screener enables customers to find mutual funds that fit specific investing criteria, such as finding a no-transaction-fee fund.

Scottrade also said its online Knowledge Center includes educational articles, commentary, and Webcasts for customers to learn all about mutual funds, including fund types, strategies, calculating net asset value, fund fees, how to research and evaluate mutual funds, where to find a prospectus, and mutual fund tax considerations.