By design, 401(k)plans require you to manage your investments, whether or not you have the same talent or tools to do so effectively or efficiently.
Three factors should drive retirement investment decisions:
• SavingsRate: How much can you afford to save every month?
• Investment Performance: What is an acceptable rate of return assumption to use, and can you counteract the ups and downs of attempts to achieve that return?
• RetirementTimeframe: If your investments don’t perform as expected, are you willing to work longer
Your financial advisor can help with these decisions.
Choosing to work with a professional financial advisor can be a wise decision.
Personal financial advisors may provide the expertise, financial guidance, and personal relationships to help you become a wealth accumulator.
A Scarborough financial advisor can help you map out all of your financial goals and then help you work toward them one by one!
You should have the ability to hire a financial advisor of your choice! However, if the financial advisor of your choice doesn’t have a business relationship with your employer, they are at an advantage in providing investment management services for your employer-sponsored retirement account.
The qualified custodian of the account – generally a large investment or insurance company- will not give your financial advisor direct access to your account, as they may for other types of investment accounts. So Scarborough advisors overcame those hurdles with the Savings Plan Management service administered by Retirement Management Systems (RMS).
Personal financial advisors may provide the expertise, financial guidance, and personal relationships to help you become a wealth accumulator.
A Scarborough financial advisor can help you map out all of your financial goals and then help you work toward them one by one!
You should have the ability to hire a financial advisor of your choice! However, if the financial advisor of your choice doesn’t have a business relationship with your employer, they are at an advantage in providing investment management services for your employer-sponsored retirement account.
The qualified custodian of the account – generally a large investment or insurance company- will not give your financial advisor direct access to your account, as they may for other types of investment accounts. So Scarborough advisors overcame those hurdles with the Savings Plan Management service administered by Retirement Management Systems (RMS).
An Affordable Monthly Subscription
Fortunately, you can keep your retirement plan working for you for a lot less than you may expect. With Scarborough Capital Management, you can have your account managed by an experienced professional, with unlimited support, for an affordable monthly fee.
How Does It Work?
The financial industry is known for making things confusing. We don’t operate that way. Scarborough advisors partner with Retirement Management Systems (RMS) to provide you Savings Plan Management services. Here’s what you can expect:
- Your Scarborough advisor will listen first, so we can learn about your financial needs, goals, and ability to tolerate risk. Then, he or she will work with you to create a customized retirement strategy just for you.
- Savings Plan Management services are administered by Retirement Management Services (RMS). RMS will first analyze your plan’s options, then they’ll construct a custom asset allocation strategy using the investment available within your plan, allocate according to your Scarborough advisor’s risk profile recommendations, and rebalance as needed.
- Your account will be adjusted as needed so it is managed in accordance with the strategy agreed upon with your Scarborough advisor.
- You’ll get an action plan that tells you what contribution rates are needed to stay on track to your goals.
- Your advisor will help you monitor your progress along the way, and adjust your plan if your personal circumstances change.
- Your account will be periodically rebalanced to ensure that you aren’t taking too much, or too little, risk.
- You’ll receive unlimited access to your advisor by email or phone.
- You’ll get access to free educational seminars and receive a free subscription to your advisor’s weekly financial newsletter.
There’s nothing magical about building wealth, but execution is the key. With our services, you’ll have an advisor who will keep you accountable to your own goals. That’s how you can build a better future.
What Does It Cost?
With these flat fees, you’ll always know exactly how much the service costs. And you’ll never get a surprise bill from us. Learn more about our No Surprises fee policy.
Q. WHAT’S THE DIFFERENCE BETWEEN THIS SERVICE AND A TARGET DATE FUND?
Target date funds have done a great job of marketing and can be found in many retirement accounts. In theory, the idea is a good one. Pool all the money of people who plan to retire around the year 2040, for example, and invest it for them.
There’s a big problem, however. The target date fund manager assumes everyone who retires in 2040 is the same. Same number of dependents, same responsibilities, same income. As we all know, we are all very different. A single professional is likely going to have a totally different risk profile than a one income family with three kids. So there’s an often overlooked risk to target date funds since they are not personalized to you.
Our approach is to design your holdings based on your risk profile. That way, you’re not caught taking more—or less—risk than you should be taking.
Our service also includes unlimited support with your own dedicated financial advisor. So you can ask questions about contributions, withdrawals, loans, or anything else.
That can help you feel less stressed and more confident about your future. And, just having an advisor who knows your goals will help you stay accountable…to yourself! You’ll probably find yourself saving more because of it. Target date funds, unfortunately, offer none of these benefits.
Q. HOW CAN I FOLLOW WHAT YOU ARE DOING?
You need to know where your money is at all times, so you’ll continue to have full access to your workplace login and see your holdings and balances.
Q. AM I STUCK IN A CONTRACT IF I DON’T LIKE THE SERVICE?
No, you can cancel this service at any time. We want satisfied clients and we think you’ll find the service so helpful and anxiety-relieving you’ll want to stick around!
Q. DO I NEED TO MOVE MY ACCOUNT?
No, there’s no change required. As long as online access to your plan information is available we can help.
With our services, you’ll have an advisor who will keep you accountable to your own goals. That’s how you can build a better future.
