Retirement Management Systems, Inc. (Severna Park)

Name: Retirement Management Systems, Inc.
Address: 696 Ritchie Highway, Severna Park, MD, 21146
Telephone: 888-870-7674

Retirement Management Systems, Inc. is a large advisory firm based in Severna Park. It manages $1.06 billion of regulatory assets for 2,653 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Alabama, Arizona, California, and 34 other states.

Retirement Management Systems provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, educational seminars and workshops, and asset allocation advice. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Retirement Management Systems: assets under management

The assets under management (AUM) of Retirement Management Systems, Inc. is $1.06 billion. The firm's AUM has grown by 87% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.06 billion in discretionary accounts and $2.8 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $399.78 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $399.3 thousand.

Retirement Management Systems has custody of $1.06 billion in cash and securities for 2,487 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 100% of the total AUM.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Retirement Management Systems, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Retirement Management Systems serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Retirement Management Systems is individuals with 2,337 clients and $861.24 million of assets under management. Among the 7 most similar advisory firms, Retirement Management Systems has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.06 billion for 2,487 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Retirement Management Systems doesn't advise any private funds.

Careers at Retirement Management Systems, Inc.

The company employs 4 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 2 employees are registered as investment adviser representatives with the state securities authorities.

There are 54 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Joseph Michael Scarborough	Ceo, cco, director	1 Feb 2008	50% - 75%	1011773
John Martin Blamphin	Director of operations	1 Aug 2009	Other	4565896
Gregory Sigismund Ostrowski	Shareholder	1 Aug 2011	Other	4576198
James Edward Lerro	Chief compliance officer	1 Mar 2013	Other	717217
John M Keenum	Shareholder	1 Jan 2016	Other	5383030

Based in Severna Park

The principal office where Retirement Management Systems, Inc. performs its advisory services is located at 696 Ritchie Highway, Severna Park, MD 21146, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 888-870-7674 or by fax 410-573-1196. The normal business hours are 8:30 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at manage401k.com.