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Deals & People February 27, 2008
Scarborough Group Splits Participant and Adviser Advice Services
Effective March 1, 2008, The Scarborough Group, Inc. will become two companies – Scarborough Capital Management, Inc. and Retirement Management Systems, Inc. – offering services to 401(k) participants and financial advisers, respectively.
Reported by Rebecca Moore
According to a press release, Scarborough Capital Management (SCM) will provide wealth management services to individual clients and 401(k) participants on flat-fee basis, and will provide financial planning, and asset management advice. SCM representatives will continue to offer securities products through Royal Alliance Associates.
“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,” said J. Michael Scarborough, president and founder of The Scarborough Group, in the release.
Retirement Management Systems (RMS) will be charged with developing software and support solutions for advisers and professionals interested in managing their clients’ 401(k) assets. The Scarborough Group will make its computer systems available to other financial professionals through licensing.
“Advisers looking to get in the 401(k) 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,” Scarborough said.
For more information, visit www.401kadvice.com.