Wealth manager, independent · Annapolis, MD
Scarborough Capital Management
Scarborough Advisors, LLC · SEC-registered investment adviser · CRD 169517 · SEC 801-79006
At a glance
Scarborough Capital Management is an SEC-registered investment adviser based in Annapolis, Maryland, with $1.6B in regulatory assets under management as of its Form ADV filed March 26, 2026. It reports 2,664 individual clients, 732 of them high-net-worth, holding an average of about $0.6 million each, and 23 employees. That ranks it 660th among the nation’s 5,657 independent wealth management RIAs and 16th of 104 in Maryland. It reports Charles Schwab as the custodian for its clients’ separately managed accounts.
Main office 410-573-5700scmadvice.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $1.6B
- Rank among independent wealth managers
- #660 of 5,657
- Rank among all SEC RIAs
- #4,057 of 17,210
- Rank in Maryland
- #16 of 104
- Individual clients
- 2,664
- High-net-worth clients
- 732
- Accounts
- 4,323
- Discretionary
- 100% of AUM
- Employees
- 23
- Advisory staff
- 13
- Offices
- 1
Owners and executives on its Form ADV
- James F. SprinkelMember
- Gregory S. OstrowskiMember
- Ian ArrowsmithManaging Member
- Ryan A. AnstedMember
- Shawn J. WalkerMember
- Reese M. CorleyChief Compliance Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
Scarborough Capital Management is a hybrid RIA: 13 of its employees are also registered representatives of a broker-dealer. It reports a broker-dealer among its affiliates on Form ADV.
Its Form ADV brochure (filed March 2026) names Independent Financial Group as the broker-dealer its advisers are registered with.
Scarborough advisors are also registered representatives of IFG and can sell brokerage-related products or services to their clients on a transactional basis for commission.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 732 | $1.2B | 73% |
| Individuals | 1,932 | $446M | 27% |
Disciplinary disclosures
Scarborough Capital Management reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Selecting other advisers
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗scmadvice.com ↗
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The full record on Scarborough Capital Management
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 2,351 peers of its type and size
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- Owners and executives, with titles and stakes
- 6 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
- 1Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Maryland
All of Maryland →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Retirement Management SystemsLeonardtown | $1.9B | 3,032 |
| Berman McAleerTimonium | $1.8B | 646 |
| WBH Advisory, Inc.Baltimore | $1.7B | 725 |
| Tritonpoint Wealth, LLCChevy Chase | $1.5B | 338 |
| Edgemoor Investment Advisors, Inc.Bethesda | $1.5B | 312 |
| Sargent Investment GroupBethesda | $1.5B | 396 |
Background
Questions
How much does Scarborough Capital Management manage?
Scarborough Capital Management reports $1.6B in regulatory assets under management across 4,323 accounts, 100% of it on a discretionary basis, on its Form ADV filed March 26, 2026.
How many clients does Scarborough Capital Management have?
It reports 2,664 individual clients: 732 high-net-worth individuals and 1,932 other individuals. Individuals account for about 100% of its regulatory assets.
Where is Scarborough Capital Management headquartered?
Its main office is in Annapolis, Maryland. It reports 1 office in total and 23 employees, 13 of whom perform investment advisory functions.
How does Scarborough Capital Management charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Scarborough Capital Management use?
It reports Charles Schwab as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed March 26, 2026, it reports these amounts held: Charles Schwab ($1.6B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Scarborough Capital Management a hybrid RIA with a broker-dealer?
Scarborough Capital Management is a hybrid RIA: 13 of its employees are also registered representatives of a broker-dealer. It reports a broker-dealer among its affiliates on Form ADV. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Scarborough Capital Management a fiduciary?
As an SEC-registered investment adviser, Scarborough Capital Management owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 13 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is Scarborough Capital Management’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-03-26), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →