Scottrade names leader of adviser services unit

Scottrade today announced that is has promoted Brian Davis to lead Scottrade Advisor Services. Mr. Davis had been business development manager at the custody unit of discount broker Scottrade Inc. since 2005. He fills a post left vacant since former head of the adviser unit, Doug Talir, left the firm a year ago, according to the RIABiz website, which earlier reported Mr. Davis' promotion. Steve Walkenbach, Scottrade's executive director of business and product development, has been in charge of Scottrade Advisor Services, Carrie Trent, a Scottrade spokeswoman, wrote in an e-mail. No replacement will be named to fill the business development manager position, Ms. Trent said. Scottrade, which has about 750 RIA clients, markets to advisers with smaller asset bases who typically register at the state level. The firm does not disclose assets under administration. “Unlike many of our competitors, Scottrade does not have a minimum-asset fee, because we do not have a minimum-asset requirement," Mr. Davis said in a statement today.