PlanMember Financial Corporation Acquires Scarborough Alliance Group

PlanMember Financial Corporation Acquires Scarborough Alliance Group

December 3, 2010 – PlanMember Financial Corporation, headquartered in Carpinteria, California, is pleased to announce the recent acquisition of Scarborough Alliance Group. Located in Irvington, New York, Scarborough is a financial services, administration and investment firm that provides retirement education and investment services to local unions of the International Brotherhood of Electrical Workers (IBEW) and other affinity groups. Scarborough has been working with IBEW local union members since 1974 and has been in the plan administration business since 1970. Scarborough currently manages $600 million in pension and savings plan assets and serves IBEW members in 47 states.

Jon Ziehl, PlanMember’s founder and CEO said, “The acquisition of Scarborough Alliance Group provides a unique opportunity for PlanMember to expand the growing number of employer and affinity groups nationwide that have chosen PlanMember to be a preferred retirement plan provider for their employees. As a result, PlanMember’s Programs are a natural fit for IBEW members to help meet and exceed their retirement goals and ensure success in their retirement years.”

Denis Cardone, President of Scarborough commented, “For nearly four decades Scarborough has had one basic mission: to help IBEW members enjoy a financially comfortable retirement. PlanMember brings the infrastructure, investment, marketing, distribution and customer service support necessary to continue to serve our IBEW local union members with high quality retirement solutions on a national basis.”

PlanMember Financial Corporation has been an industry leading financial services and retirement planning firm serving the public education and non-profit sectors for over two decades. Currently the company is an approved retirement plan provider for 2,300 organizations nationwide, supports 400 registered representatives, and serves as broker/dealer for over 100,000 customer accounts totaling approximately $4 billion in assets.

Known for providing superior service and support to advisors and their clients through high-quality investment advisory programs, PlanMember delivers personalized retirement planning services and a broad selection of investment solutions to employer groups and membership organizations.

For more information about PlanMember Financial Corporation and the acquisition of Scarborough Alliance Group, contact Richard Ford at (800) 874-6910, ext. 2400 or visit www.planmember.com.

Office Locations
PHILADELPHIA • LOS ANGELES • NEW YORK