State market data

Independent RIAs in Maine

As of October 2, 2026, 84 independent wealth management RIAs based in Maine reported $29.9 billion in regulatory assets under management; the largest by assets was H.M. Payson, with $9.1 billion.

Include wirehouses and broker-dealer firms

Independent wealth management RIAs: 84
SEC-registered: 29
State-registered: 55
Regulatory assets under management: $29.9 billion
Client accounts: 41,231
Median firm size: $57.8 million
Broker-dealer affiliated firms, not included: 2, with $206.3 million

Maine has not adopted IAR continuing education. Status from NASAA's IAR CE map, checked October 5, 2026. IAR CE in Maine.

Top firms in Maine

Largest independent RIAs by assets under management

Largest independent RIAs by assets under management in Maine, top 10
Rank	Firm	City	RAUM
1	H.M. Payson	Portland	$9.1 billion
2	R M Davis Inc	Portland	$8.2 billion
3	Means Wealth Management	Bangor	$1.6 billion
4	Portland Global Advisors LLC	Portland	$1.2 billion
5	Headinvest	Portland	$891.8 million
6	Great Diamond Partners, LLC	Portland	$804.1 million
7	Old Port Advisors	Portland	$782.8 million
8	Aries Wealth Management, LLC	Portland	$658.6 million
9	Bigelow Investment Advisors, LLC	Portland	$555.2 million
10	Penobscot Financial Advisors	Portland	$544.5 million

Top 100 in Maine

Fastest-growing independent RIAs over one year

Fastest-growing independent RIAs over one year in Maine, top 10
Rank	Firm	City	Growth	Starting value
1	Abbington Investment Group, LLC	South Portland	64.4%	$122.9 million
2	GRP Retirement Planning	Farmingdale	41.3%	$109.9 million
3	Blue Point Financial, Inc.	Scarborough	34.7%	$113.3 million
4	Great Diamond Partners, LLC	Portland	31.1%	$613.4 million
5	Maiden Cove Capital	Yarmouth	25.7%	$122.3 million
6	Penobscot Financial Advisors	Portland	25.3%	$434.5 million
7	Aries Wealth Management, LLC	Portland	24.1%	$530.7 million
8	Means Wealth Management	Bangor	22.0%	$1.3 billion
9	Bennett Selby Investments, L.P.	Falmouth	20.1%	$279.6 million
10	Wright Cove Capital	Portland	19.9%	$100.6 million

Top 100 in Maine

Fastest-growing independent RIAs over three years

Fastest-growing independent RIAs over three years in Maine, top 10
Rank	Firm	City	Growth	Starting value
1	Bennett Selby Investments, L.P.	Falmouth	31.4%	$148.0 million
2	Means Wealth Management	Bangor	28.9%	$743.8 million
3	Aries Wealth Management, LLC	Portland	22.1%	$361.5 million
4	Penobscot Financial Advisors	Portland	18.1%	$330.6 million
5	Coston, McIsaac & Shea Financial Advisors	Bar Harbor	16.9%	$292.0 million
6	Portland Global Advisors LLC	Portland	15.8%	$757.1 million
7	Robinson Smith Wealth Advisors, LLC	South Portland	15.5%	$288.5 million
8	Great Diamond Partners, LLC	Portland	14.1%	$540.8 million
9	H.M. Payson	Portland	13.7%	$6.2 billion
10	Choice Wealth Advisors LLC	Waterville	13.6%	$220.4 million

Top 100 in Maine

Fastest-growing independent RIAs over five years

Fastest-growing independent RIAs over five years in Maine, top 10
Rank	Firm	City	Growth	Starting value
1	Bennett Selby Investments, L.P.	Falmouth	20.6%	$131.5 million
2	Coston, McIsaac & Shea Financial Advisors	Bar Harbor	19.7%	$190.1 million
3	Penobscot Financial Advisors	Portland	18.9%	$229.2 million
4	Means Wealth Management	Bangor	18.8%	$673.9 million
5	Aries Wealth Management, LLC	Portland	17.7%	$291.5 million
6	RM Financial Services, LLC	Falmouth	14.3%	$125.5 million
7	H.M. Payson	Portland	11.9%	$5.2 billion
8	Portland Global Advisors LLC	Portland	11.5%	$680.2 million
9	Choice Wealth Advisors LLC	Waterville	11.1%	$191.3 million
10	R M Davis Inc	Portland	8.7%	$5.4 billion

Top 100 in Maine

Independent RIAs with the biggest asset gains over one year

Independent RIAs with the biggest asset gains over one year in Maine, top 10
Rank	Firm	City	Increase
1	H.M. Payson	Portland	$959.4 million
2	R M Davis Inc	Portland	$887.3 million
3	Means Wealth Management	Bangor	$287.9 million
4	Great Diamond Partners, LLC	Portland	$190.7 million
5	Portland Global Advisors LLC	Portland	$168.6 million
6	Aries Wealth Management, LLC	Portland	$127.9 million
7	Penobscot Financial Advisors	Portland	$110.0 million
8	Abbington Investment Group, LLC	South Portland	$79.2 million
9	Bigelow Investment Advisors, LLC	Portland	$79.0 million
10	Coston, McIsaac & Shea Financial Advisors	Bar Harbor	$61.2 million

Top 100 in Maine

Independent RIAs with the most clients

Independent RIAs with the most clients in Maine, top 10
Rank	Firm	City	Most clients
1	H.M. Payson	Portland	4,308
2	Coston, McIsaac & Shea Financial Advisors	Bar Harbor	2,508
3	R M Davis Inc	Portland	2,437
4	Means Wealth Management	Bangor	1,375
5	Old Port Advisors	Portland	856
6	GRP Retirement Planning	Farmingdale	848
7	J.M. Arbour, LLC	Gardiner	720
8	Choice Wealth Advisors LLC	Waterville	622
9	Penobscot Financial Advisors	Portland	590
10	Great Diamond Partners, LLC	Portland	534

Top 100 in Maine

Independent RIAs with the fastest client growth over one year

Independent RIAs with the fastest client growth over one year in Maine, top 10
Rank	Firm	City	Growth	Starting value
1	Great Diamond Partners, LLC	Portland	61.8%	330
2	GRP Retirement Planning	Farmingdale	22.0%	695
3	RM Financial Services, LLC	Falmouth	10.4%	364
4	J.M. Arbour, LLC	Gardiner	10.1%	654
5	Birchbrook	Bangor	9.1%	296
6	Robinson Smith Wealth Advisors, LLC	South Portland	7.9%	215
7	Headinvest	Portland	7.5%	414
8	Clark & Stuart Inc	Portland	5.9%	340
9	Portland Global Advisors LLC	Portland	4.5%	291
10	Bennett Selby Investments, L.P.	Falmouth	4.3%	186

Top 100 in Maine

Independent RIAs with the most accounts

Independent RIAs with the most accounts in Maine, top 10
Rank	Firm	City	Most accounts
1	R M Davis Inc	Portland	6,124
2	H.M. Payson	Portland	4,308
3	Means Wealth Management	Bangor	3,520
4	Old Port Advisors	Portland	2,245
5	GRP Retirement Planning	Farmingdale	1,972
6	Penobscot Financial Advisors	Portland	1,811
7	Great Diamond Partners, LLC	Portland	1,736
8	Coston, McIsaac & Shea Financial Advisors	Bar Harbor	1,254
9	J.M. Arbour, LLC	Gardiner	1,253
10	Choice Wealth Advisors LLC	Waterville	1,247

Top 100 in Maine

Independent RIAs with the most advisory staff

Independent RIAs with the most advisory staff in Maine, top 10
Rank	Firm	City	Most advisory staff
1	H.M. Payson	Portland	29
2	R M Davis Inc	Portland	25
3	Means Wealth Management	Bangor	15
4	Portland Global Advisors LLC	Portland	11
4	Coston, McIsaac & Shea Financial Advisors	Bar Harbor	11
6	Old Port Advisors	Portland	10
6	J.M. Arbour, LLC	Gardiner	10
8	Penobscot Financial Advisors	Portland	7
8	Great Diamond Partners, LLC	Portland	7
10	Headinvest	Portland	6

Top 100 in Maine

Independent RIAs with the most high net worth clients

Independent RIAs with the most high net worth clients in Maine, top 10
Rank	Firm	City	Most high net worth clients
1	R M Davis Inc	Portland	1,300
2	H.M. Payson	Portland	910
3	Means Wealth Management	Bangor	394
4	Headinvest	Portland	322
5	Great Diamond Partners, LLC	Portland	285
6	Coston, McIsaac & Shea Financial Advisors	Bar Harbor	235
7	Old Port Advisors	Portland	215
8	Penobscot Financial Advisors	Portland	193
9	Clark & Stuart Inc	Portland	178
10	Portland Global Advisors LLC	Portland	168

Top 100 in Maine

Independent RIAs with the most CFP professionals

Independent RIAs with the most CFP professionals in Maine, top 10
Rank	Firm	City	Most CFP professionals
1	R M Davis Inc	Portland	5
1	Robinson Smith Wealth Advisors, LLC	South Portland	5
1	Penobscot Financial Advisors	Portland	5
4	Bigelow Investment Advisors, LLC	Portland	4
5	Coston, McIsaac & Shea Financial Advisors	Bar Harbor	3
5	Great Diamond Partners, LLC	Portland	3
7	Means Wealth Management	Bangor	2
7	Birchbrook	Bangor	2
7	August Wealth Group, Inc.	Bristol	2
7	Choice Wealth Advisors LLC	Waterville	2

Top 100 in Maine

Newest independent RIAs

Newest independent RIAs in Maine, top 10
Rank	Firm	City	Amount
1	Maine Advisory Associates	Falmouth	$116.5 million
2	Sonder Partners, LLC	Kennebunkport	$3.8 million
3	Tributaries Financial Planning LLC	Biddeford	$0
3	Northwater Capital	Portland	$0
3	Parzych Financial Planning, LLC	Saco	$0
3	Ampersand Investment Advisors	Camden	$0

Top 100 in Maine

Over time

From the SEC's yearly files: SEC-registered independent RIAs based in Maine, from October 2018, each snapshot classed from its own Form ADV answers.

FirmsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Firms
As of	Firms
October 1, 2018	17
October 1, 2019	20
October 1, 2020	21
October 4, 2021	23
October 3, 2022	24
October 5, 2023	22
October 1, 2024	24
September 2, 2025	26
October 2, 2026	29

Regulatory assets under managementSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Regulatory assets under management
As of	Regulatory assets under management
October 1, 2018	$11.9 billion
October 1, 2019	$13.1 billion
October 1, 2020	$15.7 billion
October 4, 2021	$18.4 billion
October 3, 2022	$24.1 billion
October 5, 2023	$18.7 billion
October 1, 2024	$21.1 billion
September 2, 2025	$24.4 billion
October 2, 2026	$28.3 billion

Client accountsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Client accounts
As of	Client accounts
October 1, 2018	17,607
October 1, 2019	21,930
October 1, 2020	24,251
October 4, 2021	27,211
October 3, 2022	31,673
October 5, 2023	30,062
October 1, 2024	31,609
September 2, 2025	32,598
October 2, 2026	35,338

Median firm size (RAUM)SEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Median firm size (RAUM)
As of	Median firm size (RAUM)
October 1, 2018	$214.9 million
October 1, 2019	$237.7 million
October 1, 2020	$248.7 million
October 4, 2021	$229.2 million
October 3, 2022	$324.6 million
October 5, 2023	$290.3 million
October 1, 2024	$339.1 million
September 2, 2025	$276.3 million
October 2, 2026	$296.5 million

The market in Maine now

Headline figures

Headline figures, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Firms	84	29	55
Regulatory assets under management	$29.9 billion	$28.3 billion	$1.5 billion
Accounts	41,231	35,338	5,893
Clients	22,185	18,844	3,341
Employees	382	302	80
Advisory employees	256	186	70
Investment adviser representatives	232	160	72
Median RAUM	$57.8 million	$296.5 million	$27.3 million
Average RAUM	$393.3 million	$977.5 million	$32.8 million

Firms by size

Advisers grouped by regulatory assets under management.

Firms by size, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Firms under $100 million	46	0	46
RAUM of firms under $100 million	$1.4 billion	$0	$1.4 billion
Firms $100 million to $250 million	15	14	1
RAUM of firms $100 million to $250 million	$2.3 billion	$2.2 billion	$104.7 million
Firms $250 million to $500 million	5	5	0
RAUM of firms $250 million to $500 million	$1.9 billion	$1.9 billion	$0
Firms $500 million to $1 billion	6	6	0
RAUM of firms $500 million to $1 billion	$4.2 billion	$4.2 billion	$0
Firms $1 billion to $5 billion	2	2	0
RAUM of firms $1 billion to $5 billion	$2.8 billion	$2.8 billion	$0
Firms $5 billion to $10 billion	2	2	0
RAUM of firms $5 billion to $10 billion	$17.2 billion	$17.2 billion	$0
Firms $10 billion and up	0	0	0
RAUM of firms $10 billion and up	$0	$0	$0

Concentration

How much of the market the largest advisers hold.

Concentration, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Top 10 share of RAUM	81.1%	85.5%	50.4%

How advisers are paid

Share of advisers reporting each form of compensation on Form ADV Item 5.E. A firm can report several.

How advisers are paid: independent RIAsAs of October 2, 2026.
Measure	Bar	Value
Charge a percentage of assets		90.5%
Charge hourly fees		67.9%
Charge subscription fees		0.0%
Charge fixed fees		64.3%
Receive commissions		0.0%
Charge performance-based fees		0.0%
Other compensation		8.3%

How advisers are paid, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Charge a percentage of assets	90.5%	100.0%	85.5%
Charge hourly fees	67.9%	55.2%	74.5%
Charge subscription fees	0.0%	0.0%	0.0%
Charge fixed fees	64.3%	72.4%	60.0%
Receive commissions	0.0%	0.0%	0.0%
Charge performance-based fees	0.0%	0.0%	0.0%
Other compensation	8.3%	6.9%	9.1%

Custody

Advisers reporting custody of client cash or securities on Form ADV Item 9.

Custody, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Have custody	33.3%	51.7%	23.6%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

Broker-dealer and other affiliations, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Broker-dealer affiliated	0.0%	0.0%	0.0%

New firms and successions

New registrations and firms reporting that they succeeded to another adviser's business (Form ADV Item 4).

New firms and successions, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
New registrations	6	1	5
Successions	No data	0	No data

Other measures

Other measures, as of October 2, 2026
Measure	Independent RIAs	SEC-registered	State-registered
Firms reporting RAUM	76	29	47
Discretionary RAUM	$28.6 billion	$27.4 billion	$1.2 billion
CFP professionals	65	42	23
25th percentile RAUM	$18.7 million	$155.3 million	$10.1 million
75th percentile RAUM	$164.4 million	$658.6 million	$48.5 million
90th percentile RAUM	$606.9 million	$1.3 billion	$77.1 million
Average account size	$724,880	$802,203	$261,203
Offer financial planning	81.0%	72.4%	85.5%
RAUM growth, one year	No data	16.0%	No data

As of October 2, 2026. Definitions of every measure are on the methodology page.

Cities

Portland 18 independent RIAs, $23.2 billion
Bangor 6 independent RIAs, $2.2 billion

Cities with at least five independent RIAs.

Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.