Scarborough Capital Management said Wednesday that it has new ownership and will retain its name even with this change. Previously owned by founder and former President/CEO Mike Scarborough, the company is now owned by five long-time employees. Based in Annapolis, Maryland, Scarborough Capital Management is a financial planning and investment firm.
ANNAPOLIS, Md., Sept. 25, 2013 /PRNewswire-iReach/ — Scarborough Capital Management, an independent financial planning and investment advisory firm based in Annapolis, announced a new private equity ownership. While, the company will retain its name, the ownership structure is now made up of five long-time employees of the firm.
Previously owned by founder and former president and CEO, Mike Scarborough, the transfer of ownership was part of a fully-developed succession plan to ensure a seamless transition for the company, its employees and their clients without any interruptions in service.
“Four of the five new owners began their career as interns at the firm and have now become extremely capable and talented advisors,” said Scarborough. “I am confident in their dedication to serve with integrity in this business for decades to come.”
Ryan Ansted, CRPC®, Retirement Advisor – joined in 2000
Ian Arrowsmith, CRPC®, CMFC®, Retirement Advisor – joined in 1999
Gregory Ostrowski, CFP®, CRPC®, Chief Operating Officer – joined in 1999
Jay Sprinkel, CRPC®, Retirement Advisor – joined in 2001
Shawn Walker, CRPC®, Retirement Advisor – joined in 1999
“Each of us is dedicated to the mission of Scarborough Capital Management, which is to continue moving the needle and making a real difference when it comes to the retirement for most working Americans,” expressed Greg Ostrowski, partner. “We have the necessary resources to grow and the commitment to deliver the best customer experience in this industry,”
“We pride ourselves on our personal commitment to serving clients through strong client relationships,” explained Shawn Walker, partner. “Whether it’s a working couple just getting started or a successful professional nearing or entering their retirement years, our services are geared towards that individual and meeting their unique needs.”
In 1989, Scarborough established the firm to provide an array of financial planning help to working individuals. Their focus on 401(k) and 403(b) savings plan management services, for employees participating in company-sponsored retirement plans, sets them apart from the competition. Today, the advisors at Scarborough Capital Management work with individuals who hold retirement plan assets in more than 125 plans ranging from Fortune 500 companies to small and midsized businesses
Mike Scarborough plans to devote more of his time to growing and operating Retirement Management Systems, his firm which enables advisors to help 401(k), 403(b) and other defined contribution plan participants effectively manage their individual savings plan accounts. He also intends to start a brewery to complement his wife’s Running Hare Vineyard and Winery.
Visit www.401kadvice.com for more information.
About Scarborough Capital Management
Scarborough Capital Management provides comprehensive financial advisory services, including 401(k) Management, Investment Management, Financial Planning, Retirement Income Management, Estate Planning, and Risk Management. Dedicated to helping people prepare for retirement, Scarborough Capital Management developed its signature 401(k) and 403(b) Savings Plan Management service for employees participating in their company retirement plans. Currently, the firm oversees $1.2 billion in client assets. Please visit www.401kadvice.com for more information.Disclosures: Securities offered through SII Investments, Inc.(SII), Member FINRA, SIPC. Advisory services offered through Scarborough Capital Management, Inc. (SCM), a Registered Investment Advisor. SII and SCM are separate companies.