What does your Savings Plan Management solution provide to me as an individual?
With the Savings Plan Management Program you, your Scarborough advisor, and Retirement Management Systems join forces to help you plan your retirement goals.
Your Scarborough advisor will listen to your unique needs and will work with you to create a customized retirement strategy. Your advisor will assess your retirement goals and help determine the most appropriate risk profile, refine contribution rates, and monitor your progress along the way.
Savings Plan Management (SPM) is administered by Retirement Management Services (RMS). RMS will administer SPM by first analyzing 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.
You also receive unlimited access to your Scarborough financial advisor when you have questions or concerns regarding:
• Your account
• Market conditions
• Changes to your savings plan
• Changes in your personal life that may affect your retirement plan
In addition, you have access to free educational seminars and receive a free subscription to your advisor’s weekly financial newsletter.
How do I sign up?
It’s easy. Click here to get started, or call us at 800-835-4015.
How much does the Savings Plan Management service cost?
As little as a dollar a day. Choose convenient monthly payments or select either annual or quarterly payments to receive discounted pricing.
Do you offer discounts?
Family members who choose to sign up receive $60 off. We also offer discounted Family Plan pricing when you sign up additional accounts.
Will my Scarborough advisor contact me?
Absolutely. Your Scarborough advisor contacts you periodically to review SPM services, discuss the risk level in your chosen portfolio, and answer any questions. You can also contact your advisor any time you have questions or concerns.
Am I too young to use Savings Plan Management services?
Absolutely not. The younger you start planning for retirement, the better the chance that you’ll reach your goals. We help with your retirement account regardless of your age, account balance, or company. In fact, we enjoy getting you started.
How do I pay?
Your SPM account is linked to your bank account or to a credit card (Visa®, Mastercard®, Discover® or American Express®). Since the service is designed to be ongoing, your account is charged each time your membership is up for renewal, unless a cancellation notice is provided.
Will this work with my plan at work?
Yes. As long as online access to your plan information is available, Scarborough can help you select the most appropriate model portfolio and RMS can construct a custom asset allocation strategy using the specific investments in the plan.
Will I still have online access to my company retirement account?
Yes. You always have online access to your account.
Can I use Savings Plan Management if I am not a current employee?
Yes. A SPM account can be established for former employees, beneficiaries, or former spouses under a qualified domestic relations order (QDRO). As long as online access to your plan information is available.
How often do you recommend changes to my retirement plan?
Frequency depends on a number of factors, including market conditions and behavior of the investment options within your plan.
Can you help consolidate old plans from former employers?
Yes. If consolidation is your goal, you have many options to consider. Ask your Scarborough advisor for more information about evaluating these options.
How do I cancel my service?
You can cancel this service at any time in writing.
Does Scarborough provide educational services?
Yes! In our experience education is more necessary than ever to get clients to save. We offer a variety of educational seminars, live webcasts and a video library on our website to serve you.
Does Scarborough offer any other services?
Yes. Your Scarborough advisor can offer help with retirement planning, college planning, insurance analysis, and complete financial planning.
Is there a minimum to start investing?
There is no minimum to begin investing.
Can Scarborough come to my workplace and provide the other employees with retirement education?
Yes! Our advisors travel all over the country helping employees understand their specific retirement plan options and how they can use them to their advantage. These seminars are free of charge but a minimum attendance is required. Contact your advisor to start the process.