facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause

Character Counts.
People Make the Difference.

Oak Wealth Partners Personnel

J. Michael Scarborough Founder and CEO Oak Wealth Partners

Mike Scarborough
President and CEO


J. Michael Scarborough (Mike), President and CEO of Oak Wealth Partners, Inc. is known for innovating the industry of managing monies for individuals in qualified plans.

Mike earned his MBA in finance from Baldwin-Wallace College and his Bachelor of Science degree in finance from Salisbury State University. In 2005 Mike was awarded an Honorary Doctorate for Public Service from Salisbury State University. He has taught personal finance and economics courses at Johns Hopkins University and Salisbury State University.

Mike has appeared on several television networks, including Fox 5 TV, and has been featured in print media and national publications such as Kiplinger's Personal Finance Magazine, Money Magazine, Pensions & Investments, USA Today and The Wall Street Journal. Mike has written two books available on Amazon.com - The Scarborough Plan: Maximizing the Power of Your 401(k) and 401(k)nowledge: Practical Advice for Retiring on Your Own Terms. These books provide easy to understand recommendations on strategies to improve the performance of hard earned savings.

In addition to Oak Wealth Partners Inc., Mike is also owner of Retirement Management Systems, where he works as the Chief Compliance Officer and Investment Advisor Representative.

Brenda Knox, founder and president of Financial Elements Inc. & CERTIFIED FINANCIAL PLANNER

Matt Scarborough
Partner / Financial Advisor


Matthew Scarborough (Matt), joined Oak Wealth as a Partner and Financial Advisor in August 2019. He holds a FINRA Series 65 license as of October 2019.

Prior to joining Oak Wealth, Matt was a student at Babson College in Babson Park, Massachusetts, where he earned a Bachelor’s Degree in Entrepreneurship/Entrepreneurial Studies, accomplishing this in just three years (2016 – 2019). While at Babson, Matt was an Equity Partner in FratWood (2017-2019), a company that designed custom, wooden tailgating tables and offered the first-ever customizable, foldable, American-made, wooden House Table.

Prior to college, Matt was Senior Lacrosse Captain at The Hotchkiss School in Lakeville, Connecticut (2013-2016). Matt also served as a summer intern at Retirement Management Systems in 2012.

Fun Facts

This dynamic father/son duo has also partnered up on other business activities including owning/managing Running Hare Vineyard.

Recent Media Quotes

Maintain a broad view of all of your holdings as you reallocate assets. It’s not enough to focus on just the 401(k). Take all of your investments into account. If you leave an employer, make sure you haven’t forgotten anything, like a 401(k) or other benefits you may have earned. If it’s an old 401(k), roll that into an IRA, which you can invest any way you want. It happens all the time — people leave money in a 401(k) and forget about it. They take more time on their vacation than they do on retirement planning, says Michael Scarborough, owner and CEO of Oak Wealth Partners, in this Bankrate.com article on Saving for Retirement (April 2019).

The move to get individual annuities out of 403(b) plans may seem contradictory to the present push to get annuities into 401(k) plans, but the issue is cost. The real issue becomes that many of these products are excessively expensive over what is appropriate. What needs to happen, and unfortunately we see little movement, they need to be using no-load products that serve the purpose of the employees, not the company that is the recordkeeper or the product sponsor. While conceptually having annuities inside of retirement accounts makes sense, especially at the end of their working careers, the expense ratios and even quality of the underlying investments should be examined closely, explains Mike Scarborough, president and CEO of Oak Wealth Partners in Lexington Park, Maryland, in this article published by PlanSponsor on The Next Evolution in 403(b) Plans (June 2020).

 

More Media Mentions