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Top Financial Advisors in Bangor, ME

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Review content is produced independently of any business relationships that might exist with the firms mentioned here, and business partners of SmartAsset receive no special consideration in reviews. This page contains links to SmartAsset's financial advisor matching tool, which may or may not match you with the advisor(s) mentioned here.

Finding a Top Financial Advisor Firm in Bangor, Maine

Despite having only around 12,000 people living within its borders, Bangor, Maine, has a fairly large selection of financial advisor firms to choose from. To help you sift through these options, SmartAsset has found the top firms in the city of Bangor. In our reviews, we highlight a number of important factors for each firm, including their minimums, investment strategies and available services. To expand your search, use SmartAsset’s financial advisor matching tool. It connects you with up to three local advisors.

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Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Birchbrook Birchbrook logo Find an Advisor

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$211,474,117 No set account minimum
  • Financial planning
  • Portfolio management
  • Selection of other advisors
  • Publication of periodicals
  • Educational seminars

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Selection of other advisors
  • Publication of periodicals
  • Educational seminars
2 VanceGray Wealth Management, Inc. VanceGray Wealth Management, Inc. logo Find an Advisor

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$210,705,766 $1,000
  • Financial planning
  • Portfolio management
  • Pension consulting
  • Educational seminars

Minimum Assets

$1,000

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
  • Educational seminars
3 Alterity Financial Group, LLC Alterity Financial Group, LLC logo Find an Advisor

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$135,744,318 $50 minimum annual fee
  • Financial planning
  • Portfolio management

Minimum Assets

$50 minimum annual fee

Financial Services

  • Financial planning
  • Portfolio management

What We Use in Our Methodology

To find the top financial advisors in Bangor, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:

  • AUM
    Firms with more total assets under management are ranked higher.
  • Individual Client Count
    Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
  • Clients Per Advisor
    Firms with a lower ratio of clients per financial advisor are ranked higher.
  • Age of Firm
    Firms that have been in business longer are ranked higher.
  • Fee Structure
    Firms with a fee-only (as opposed to fee-based) compensation structure are ranked higher.

All information is accurate as of the writing of this article. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria.

Birchbrook

Birchbrook

Birchbrook is a fee-only firm with a fairly small team of on-staff advisors. The firm's team includes three chartered financial analysts (CFAs), one certified financial planner (CFP) and one certified trust and financial planner (CTFA). The firm's clients are mostly individuals, around 75% of whom do not have a high net worth. Institutional clients include retirement plans, charitable organizations and corporations.

The firm used to have a $500,000 account minimum, but it has since been eliminated. There is now no minimum account size for new clients. 

Birchbrook Background

Prior to its June 2021 rebranding to Birchbrook, this firm was known as Deighan Wealth Advisors. The firm's history can be traced back to 1994 when it was created by Jean M. Deighan and Jenifer L. Butler. Deighan no longer works at or owns the firm, as it is now owned by Butler, Lucie Estabrook and Jennifer Eastman.

Services at the firm include investment management and financial planning. The latter is a completely customizable service, though it can cover topics like retirement planning, legacy planning, trust planning and more.

Birchbrook Investment Strategy

When evaluating investments, the firm primarily uses fundamental analysis. According to the firm's Form ADV, this type of analysis puts "great emphasis on measures of intrinsic value, earnings growth, and strong financial statements," for the investments being considered.

Birchbrook may use a plethora of securities when investing client assets. These can include stocks, mutual funds, exchange-traded funds (ETFs), warrants, corporate debt oblifations, commercial paper, certificates of deposit (CDs), municipal securities and bonds.

VanceGray Wealth Management

VanceGray Wealth Management, Inc.

VanceGray Wealth Management is a fee-based firm. That means some advisors at VanceGray also earn commissions for selling insurance products. This is a potential conflict of interest, but advisors must act in the best interest of the client at all times.

Clients of VanceGray are mostly individuals, most of whom are non-high-net-worth. The few institutional clients of the firm include pension plans, charitable organizations and corporations.

The team of advisors here includes two certified financial planners (CFPs) and two certified public accountants (CPAs). The minimum investment for new clients is $1,000, which the firm may waive at its discretion.

VanceGray Wealth Management Background

Vance Gray founded in his namesake firm in 2007 and is still its sole owner. Gray is one of the firm's senior financial advisors and has 30 years' experience in the financial services industry.

Services include asset management, financial planning, consulting, estate planning, education planning and retirement planning.

VanceGray Wealth Management Investing Strategy

VanceGray Wealth Management primarily invests client assets in individual stocks, bonds, cash, cash equivalents and mutual funds. Tactical allocation is the most common strategy for clients at VanceGray, which is designed to reduce risk and increase performance for a given risk level. Fundamental and technical methods of analysis are the main tools used to make investment choices.

Alterity Financial Group

Alterity Financial Group, LLC

The final firm on this list is Alterity Financial Group, a fee-based advisory firm. Clients here are nearly all non-high-net-worth individuals, plus a small number of high-net-worth clients and corporations.

Of the advisors who work at Alterity, there is one certified financial planner (CFP) and one accredited asset management specialist (AAMS). There is a minimum fee of $50 per year, which means it may not make sense to have an account with less than $5,000 in assets.

Some advisors here are insurance agents and may earn commissions for selling insurance products to clients. This is a potential conflict of interest, but all advisors are bound by their fiduciary duty to act in the best interests of their clients.

Alterity Financial Group Background

Alterity Financial Group was founded in 2010. It is owned by CGC, LLC, which in turn is owned by Jeffrey Chapman and Dudley Gray. Chapman is the president, CEO and chief investment officer (CIO) of Alterity, while Gray is its chairman.

Services at the firm include investment management, financial planning, retirement planning, small business planning, insurance, estate planning and trust planning.

Alterity Financial Group Investment Strategy

Alterity Financial Group mostly invests client assets in one of three types of securities: stocks, bonds and cash. Methods of analysis used by the firm to select its investment include fundamental analysis, technical analysis and cyclical analysis.

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research