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September 5, 2010 |     |
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Newsletters
One Trusted AdvisorDid You Know? A number of years ago, members who were attending our workshops would ask if we handled any other products besides 401(k) plans and rollovers from lump sum pensions. They liked what they heard about our performance and our reputation for providing good service to the participants in our plan. As a result of this interest, we expanded our product line but we have been surprised to hear lately that many of you do not know about all the products and services that we do offer. So, we have to do a better job of communicating. The primary thrust of this comes from members wanting to consolidate their money with one trusted advisor - to have a coordinated strategy that is reflected in all of their assets. The following represents a description of the other entities we have and what the products and services are available with each. Scarborough Capital Corporation is an SEC registered investment advisor. We offer low-cost, top-performing investments and, very importantly, we provide honest, straightforward advice. We offer a full array of investments including: Unlike other companies, we don't charge you commissions for products we recommend. As with the Savings and Security Plan, we charge a modest annual fee (½ of 1%) based on assets that you invest with us. Because we don't receive commissions, we can recommend products that we believe are right for you - not the ones that pay the highest commission. Scarborough Capital Corporation can help you develop a customized strategy for all of your investments. Since we are an independent advisor, we can offer objective advice that stems from being able to offer a wide variety of investment products, including no-load mutual funds from some of the leading fund families. We can provide you with access to thousands of mutual funds from well-known mutual fund companies, such as: Consolidate your assets and simplify your life! Many investors like the convenience of having their assets in one place and not having to deal with multiple brokers and/or mutual fund companies. Another advantage is the convenience of only having to make one phone call to: We hope that you have been happy with the investment performance and service of your Scarborough account. If you would like more information on how we can assist you with other accounts you may have, please call us at 800-223-7608. Scarborough Securities Corporation is a National Association Security Dealers (NASD) broker dealer. Some of you may already have accounts with the IBEW Local Unions Savings and Retirement Plan, the old "$7.00 Plan" that began in 1975. We have now converted this plan's funding vehicle to the Scarborough Advantage Variable Annuity. The primary reason for this conversion a number of years ago was to offer a tax deferred earnings and gains for investments similar to what is available under qualified plans such as your 401(k) and pension. As with each of our companies, we have no sales or withdrawal charges and low annual expenses. This contrasts with most broker sold variable annuities where they have, as a minimum, withdrawal or surrender charges and annual expenses sometimes averaging over 3% a year. You should consider this product if you currently have a variable annuity with another carrier as we can offer an array of equity funds along with a fixed income account, usually at considerable cost savings. Before you transfer from the other product, you should learn if the surrender charges are still applicable to you. The annual expenses will still be there! Find out what they are. Spring Cleaning - Can I Throw This Out? Our representatives are often asked the question of when it is safe to throw out certain types of paperwork. We thought it might be helpful to review the types of paperwork you should be holding onto versus what is not as important. The following are some guidelines to help you determine what can be tossed and what may be worth holding on to: Keep It Toss It The Right Way to Toss It If you don't already own them, there are two important purchases you may want to make to assist in the process of discarding unnecessary paperwork. The first is a shredder. When discarding financial documents or documents that contain important or personal information, the best thing to do is shred them. Identity theft is a big business and you don't want your information falling into the wrong hands. Home shredders have become so popular that you can buy one for as little as $20 now, if you don't already own one. Depending on your situation, you may also find it helpful to purchase a scanner to scan documents rather than storing the paper files. For example, if you receive hard copies of monthly brokerage statements, you may want to scan them and keep paper copies of only confirms and year end statements. Saving your electronic financial documents to a CD will really cut back on storage space, but if you do not have alternate means of backing up your electronic records, this is not a good option for you. We hope we have provided a starting point for organizing your financial or other important paperwork. As always, should you have any questions, call us at (800) 223-7608. (Published: 4/14/2007) Back to Index |
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