State market data

Wealth management firms in Maine

As of October 2, 2026, 86 wealth management firms, including broker-dealer firms, based in Maine reported $30.1 billion in regulatory assets under management; the largest by assets was H.M. Payson, with $9.1 billion.

Showing all wealth firms, including wirehouses and broker-dealer firms. Independent RIAs only

Wealth management firms: 86
SEC-registered: 30
State-registered: 56
Regulatory assets under management: $30.1 billion
Client accounts: 41,690
Median firm size: $57.8 million
Of which broker-dealer affiliated: 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 wealth firms by assets under management, including broker-dealer firms

Largest wealth firms by assets under management, including broker-dealer firms 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 wealth firms over one year, including broker-dealer firms

Fastest-growing wealth firms over one year, including broker-dealer firms 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	Richard Brothers, Financial Advisors Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	South Portland	23.8%	$145.9 million
9	Means Wealth Management	Bangor	22.0%	$1.3 billion
10	Bennett Selby Investments, L.P.	Falmouth	20.1%	$279.6 million

Top 100 in Maine

Fastest-growing wealth firms over three years, including broker-dealer firms

Fastest-growing wealth firms over three years, including broker-dealer firms 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	Richard Brothers, Financial Advisors Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	South Portland	20.1%	$104.3 million
5	Penobscot Financial Advisors	Portland	18.1%	$330.6 million
6	Coston, McIsaac & Shea Financial Advisors	Bar Harbor	16.9%	$292.0 million
7	Portland Global Advisors LLC	Portland	15.8%	$757.1 million
8	Robinson Smith Wealth Advisors, LLC	South Portland	15.5%	$288.5 million
9	Great Diamond Partners, LLC	Portland	14.1%	$540.8 million
10	H.M. Payson	Portland	13.7%	$6.2 billion

Top 100 in Maine

Fastest-growing wealth firms over five years, including broker-dealer firms

Fastest-growing wealth firms over five years, including broker-dealer firms 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

Wealth firms with the biggest asset gains over one year, including broker-dealer firms

Wealth firms with the biggest asset gains over one year, including broker-dealer firms 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

Wealth firms with the most clients, including broker-dealer firms

Wealth firms with the most clients, including broker-dealer firms 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

Wealth firms with the fastest client growth over one year, including broker-dealer firms

Wealth firms with the fastest client growth over one year, including broker-dealer firms 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

Wealth firms with the most accounts, including broker-dealer firms

Wealth firms with the most accounts, including broker-dealer firms 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

Wealth firms with the most advisory staff, including broker-dealer firms

Wealth firms with the most advisory staff, including broker-dealer firms 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	Richard Brothers, Financial Advisors Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	South Portland	6

Top 100 in Maine

Wealth firms with the most high net worth clients, including broker-dealer firms

Wealth firms with the most high net worth clients, including broker-dealer firms 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

Wealth firms with the most CFP professionals, including broker-dealer firms

Wealth firms with the most CFP professionals, including broker-dealer firms 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	Richard Brothers, Financial Advisors Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	South Portland	2
7	August Wealth Group, Inc.	Bristol	2

Top 100 in Maine

Newest wealth firms, including broker-dealer firms

Newest wealth firms, including broker-dealer firms 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 wealth firms based in Maine, from October 2018, each snapshot classed from its own Form ADV answers.

FirmsSEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Firms
As of	Firms
October 1, 2018	18
October 1, 2019	21
October 1, 2020	21
October 4, 2021	23
October 3, 2022	25
October 5, 2023	24
October 1, 2024	26
September 2, 2025	27
October 2, 2026	30

Regulatory assets under managementSEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Regulatory assets under management
As of	Regulatory assets under management
October 1, 2018	$12.1 billion
October 1, 2019	$13.6 billion
October 1, 2020	$15.7 billion
October 4, 2021	$18.4 billion
October 3, 2022	$24.2 billion
October 5, 2023	$19.0 billion
October 1, 2024	$21.5 billion
September 2, 2025	$24.6 billion
October 2, 2026	$28.5 billion

Client accountsSEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Client accounts
As of	Client accounts
October 1, 2018	18,951
October 1, 2019	23,944
October 1, 2020	24,251
October 4, 2021	27,211
October 3, 2022	32,287
October 5, 2023	31,346
October 1, 2024	32,976
September 2, 2025	33,001
October 2, 2026	35,771

Median firm size (RAUM)SEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Median firm size (RAUM)
As of	Median firm size (RAUM)
October 1, 2018	$242.2 million
October 1, 2019	$266.2 million
October 1, 2020	$248.7 million
October 4, 2021	$229.2 million
October 3, 2022	$281.7 million
October 5, 2023	$270.6 million
October 1, 2024	$331.6 million
September 2, 2025	$259.0 million
October 2, 2026	$270.9 million

The market in Maine now

Headline figures

Headline figures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms	86	30	56
Regulatory assets under management	$30.1 billion	$28.5 billion	$1.6 billion
Accounts	41,690	35,771	5,919
Clients	22,415	19,021	3,394
Employees	393	312	81
Advisory employees	263	192	71
Investment adviser representatives	239	166	73
Median RAUM	$57.8 million	$270.9 million	$26.5 million
Average RAUM	$385.8 million	$951.0 million	$32.6 million

Firms by size

Advisers grouped by regulatory assets under management.

Firms by size, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms under $100 million	47	0	47
RAUM of firms under $100 million	$1.5 billion	$0	$1.5 billion
Firms $100 million to $250 million	16	15	1
RAUM of firms $100 million to $250 million	$2.5 billion	$2.4 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	All wealth firms	SEC-registered	State-registered
Top 10 share of RAUM	80.6%	85.0%	49.6%

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: all wealth firmsAs of October 2, 2026.
Measure	Bar	Value
Charge a percentage of assets		90.7%
Charge hourly fees		67.4%
Charge subscription fees		0.0%
Charge fixed fees		65.1%
Receive commissions		1.2%
Charge performance-based fees		0.0%
Other compensation		8.1%

How advisers are paid, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Charge a percentage of assets	90.7%	100.0%	85.7%
Charge hourly fees	67.4%	56.7%	73.2%
Charge subscription fees	0.0%	0.0%	0.0%
Charge fixed fees	65.1%	73.3%	60.7%
Receive commissions	1.2%	0.0%	1.8%
Charge performance-based fees	0.0%	0.0%	0.0%
Other compensation	8.1%	6.7%	8.9%

Custody

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

Custody, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Have custody	32.6%	50.0%	23.2%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

Broker-dealer and other affiliations, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Broker-dealer affiliated	2.3%	3.3%	1.8%

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	All wealth firms	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	All wealth firms	SEC-registered	State-registered
Firms reporting RAUM	78	30	48
Discretionary RAUM	$28.8 billion	$27.6 billion	$1.2 billion
CFP professionals	67	44	23
25th percentile RAUM	$19.7 million	$155.9 million	$10.7 million
75th percentile RAUM	$175.0 million	$632.7 million	$48.2 million
90th percentile RAUM	$586.2 million	$1.2 billion	$76.9 million
Average account size	$721,847	$797,542	$264,390
Offer financial planning	81.4%	73.3%	85.7%
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.