Scarborough Group Restructures
ANNAPOLIS, MD, February 27, 2008 -- The Scarborough Group, Inc. (SGI) has been synonymous with 401k advice for nearly two decades. As one of the early leaders in the development of advice for individual participants in company-sponsored retirement plans, SGI grew into a company that exclusively worked with participants in 401k plans at some of the country's largest employers. But new moves are going to help the company better serve participants as well as other advisors entering the 401k marketplace.
Effective March 1, 2008, SGI will become two companies - Scarborough Capital Management, Inc. and Retirement Management Systems, Inc. Each entity will offer unique services desired by two mutually dependent markets - 401k participants and financial advisors.
Scarborough Capital Management (SCM) will provide wealth management services to individual clients and 401k participants on flat-fee basis, in addition to financial planning, and asset management advice. SCM representatives will continue to offer securities products through Royal Alliance Associates. "SCM will pick-up right where The Scarborough Group left off," said J. Michael Scarborough, president and founder of Annapolis, MD-based The Scarborough Group. "SCM's mission will be to help everyone, from the line worker at the auto plant to the executive at the telecommunications company, retire successfully."
Retirement Management Systems (RMS) will be charged with developing a whole new market - software and support solutions for advisors and professionals interested in managing their clients' 401k assets. The Scarborough Group has invested close to twenty years developing and perfecting computer systems to manage valuable retirement plan assets for participants. That system will now be available to other financial professionals through licensing. "RMS is going to take the time-tested systems we have created and make them available to the industry," said Scarborough. "Advisors looking to get in the 401k management marketplace will not need to reinvent the wheel, because we have spent nineteen years creating a system that we have used with thousands of participants."
About Scarborough Capital Services
Scarborough Capital Services, Inc., provides personal, unbiased, and professional investment advice and allocation management for employees participating in a company-sponsored 401k savings plan. The Scarborough Group's flat-fee business model has helped establish it as a leading provider of allocation management for 401k participants. Scarborough Capital Services is a registered investment adviser with the Securities and Exchange Commission (SEC). For more information visit www.401kadvice.com.
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