Top Financial Advisors in Maine

Find an Advisor

H.M. Payson, a fee-only firm in Portland, is the top-rated advisory practice in the state of Maine. H.M Payson's clients are a combination of individuals with and without a high net worth, retirement plans, investment companies, estates, trusts, foundations, charitable organizations and business entities. H.M. serves more than 4,000 individual and institutional clients. 

Collectively, the firm has a number of financial certifications including advisors with the Certified Financial Planner™ (CFP®), chartered financial analyst (CFA), certified trust and financial advisor (CTFA), chartered alternative investment analyst (CAIA) and chartered SRI counselor (CSRIC) designations.

The firm does not have a set account minimum or minimum investment requirement. And as a fee-only practice, its advisors do not sell financial products for additional compensation. 

As for service offerings, the firm provides active management of equity and fixed-income portfolios, wealth management services and personalized financial planning. The firm also offers specialized solutions such as Payson Choice for goal-based planning, the Payson Total Return Fund, and H.M. Payson Private Markets, LP, which focuses on private equity and alternative investments for long-term growth.

Find an Advisor

With a minimum account size requirement of $1 million, R.M. Davis earns its compensation through asset-based fees, hourly charges and fixed fees.

This fee-only firm manages assets for around 2,500 individual clients, most of whom do not have a high net worth. However, the firm also serves charitable organizations, retirement plans, government entities and corporations. 

As a fee-only firm, R.M. Davis and its advisors do not receive additional compensation for selling or recommending third-party products and services. The firm's leadership team boasts certifications like Certified Financial Planner™ (CFP®), chartered financial analyst (CFA), certified investment couselor (CIC) and more.

R.M. Davis follows a long-term investment strategy focused on individual equities, fixed-income securities, mutual funds and ETFs. The firm tailors asset allocations to each client's objectives, which are regularly reviewed and adjusted. The investment approach emphasizes discipline and avoids market timing, favoring large- and mid-cap companies with growth potential.

Find an Advisor

Old Port Advisors is a fee-based advisory firm located in Portland. Most of the clients at the firm are individuals with less than a high net worth, though a lesser number do surpass that threshold. The firm also works with retirement plans, charitable organizations, corporations and other businesses. 

Old Port is one of only a few fee-based advisors on this list. In addition to investment management fees based on a percentage of assets under management, some employees of the firm may make money from selling insurance to clients. This can create a potential conflict of interest, but when working as advisors, the staff must act in the best interest of the client.

The firm's team includes the Certified Financial Planner™ (CFP®) designation. The minimum investment to open an account is $250,000, though the firm may be willing to waive this requirement.

The firm’s services include wealth management, portfolio management, fiduciary consulting and trust services. A client’s individual goals are incredibly important to Old Port's advisors when they draw up an investment plan. The focus, though, is on putting together a balanced, global portfolio with value-oriented strategies. Most clients see their money invested in a mix of stocks, bonds, mutual funds and ETFs.

Find an Advisor

GRP Financial Services, LLC, doing business as GRP Retirement Planning and Gosline Retirement Planning, is a fee-based advisory firm located in Farmingdale. The firm serves individuals, high-net-worth individuals, businesses, nonprofit organizations, municipal entities and corporate clients. Its website also describes a focus on individuals and couples who are nearing retirement or already retired.

The firm does not have a set account minimum to open or maintain an advisory account. 

In addition to advisory fees, some representatives may earn commissions as licensed insurance agents. This can create a potential conflict of interest, but when working as advisors, the staff must act in the best interest of the client.

The firm’s services include investment advisory services, discretionary and non-discretionary managed account programs, third-party money manager referral and oversight, and financial planning consulting. Its planning services may cover risk management, investment planning, estate planning, financial organization and financial decision-making. The firm also provides employer-sponsored financial education programs on topics such as cash flow management, debt management, college savings, employee benefits, retirement planning, insurance, tax planning and estate planning.

GRP Financial Services generally builds portfolios using asset allocation based on a client’s goals and risk tolerance. The firm may also use dollar-cost averaging, technical analysis, long-term purchases and short-term purchases. Client portfolios may include cash, stocks, ETFs, mutual funds, bonds and annuities.

Find an Advisor

J.M. Arbour, LLC is a fee-based advisory firm headquartered in Gardiner, Maine, with an additional office in Scottsdale, Arizona. The firm works with individuals, pension and profit-sharing plans, plan participants, trusts, estates, charitable organizations, corporations and other business entities. It also serves accredited investors through its private fund offerings.

The firm does not require a minimum amount of assets to establish a general advisory relationship. Investors in the firm’s private funds must qualify as accredited investors.

In addition to advisory fees, certain associated persons may receive insurance commissions. This can create a potential conflict of interest, but when working as advisors, the staff must act in the best interest of the client. 

The firm’s services include financial planning, portfolio management, retirement plan consulting and private fund management. Its financial planning services may address cash flow, taxes, retirement, investments, insurance, education savings and estate planning. J.M. Arbour also provides advisory services through Schwab’s Managed Account Marketplace Program and manages private fund strategies through the JMA Private Credit Series and JMA Venture Fund Series.

J.M. Arbour generally uses asset allocation strategies and model portfolios developed by sub-advisers or third-party model providers. Strategies may include direct indexing, alternative investments, private credit, venture investments and derivatives. Client portfolios may include equities, ETFs, mutual funds, corporate debt, municipal securities, certificates of deposit and U.S. government securities.

Find an Advisor

Penobscot Financial Advisors is another fee-only advisory firm located in Portland. The firm primarily serves individuals and high-net-worth individuals, but also maintains relationships with some charitable organizations and retirement plans. 

There is no minimum asset requirement to start a financial planning relationship with Penobscot, but there is a $200,000 account size minimum for wealth management and standalone asset management services. 

Penobscot Financial Advisors charges a wealth management fee of 1% for managing assets up to $1 million, with the rate decreasing for larger asset amounts. The firm also sets a minimum annual fee that varies based on the complexity and total household assets, excluding the primary residence. These fees are subject to negotiation at the advisor's discretion but can range from $3,900 to $6,300.

The firm has a number of accredited advisors on staff, including chartered financial analysts (CFAs) and Certified Financial Planners™ (CFPs®), among others. And as a fee-only firm, Penobscot advisors do not receive third-party compensation for selling securities or insurance products. This eliminates the conflict of interest associated with selling commissioned products and services. 

Penobscot Financial Advisors emphasizes a long-term investment approach and strategic asset allocation. Their typical investment vehicles include securities, real estate investment trusts (REITs), and maintaining cash positions to balance and diversify portfolios.

The firm tailors its investment strategies to align with each client's unique investment goals, financial situation, time horizon and risk tolerance. Additionally, other relevant factors that influence financial planning are considered to ensure a comprehensive and personalized investment experience.

Find an Advisor

Portland Global Advisors, LLC is a fee-only advisory firm located in Portland, Maine. Portland Global Advisors works with individuals, high-net-worth individuals, trusts, retirement plans, IRAs, donor-advised funds, private businesses and foundations.

The firm does not have a set account minimum or minimum investment requirement. Donor-advised fund accounts may be subject to minimums set by the fund sponsor.

As a fee-only firm, Portland Global Advisors and its advisors do not receive additional compensation for selling or recommending third-party products and services. 

The firm’s services include wealth management, discretionary portfolio management, non-discretionary consulting services and written market commentary. Portland Global Advisors also offers family office services and mission and impact services, which may include guidance around estate planning, retirement planning, tax optimization, elder care, philanthropic tools, charitable giving and coordination with other financial professionals.

Find an Advisor

HeadInvest is a fee-only firm managing an array of clients, but high-net-worth individuals comprise the largest share of the firm's client base. There are also institutional clients of the firm, including retirement plans, charitable organizations, government entities and corporations. 

The firm has a minimum account size of $1,000,000 and charges a minimum annual fee of $10,000. HeadInvest's team of advisors includes a chartered financial analyst (CFA).

The heart of HeadInvest’s strategy is Price/Value analysis. This involves using computer-assisted quantitative techniques to do the following:

• Analyze a company’s financial quality and liquidity
• Create a theoretical valuation for stock and compare it to the actual value
• Find companies with a good price compared to earnings

There are a number of standard strategies for HeadFirst clients: Core Growth and Dividend Value are the main strategies, but the firm can also come up with a custom strategy if a customer wants.

Find an Advisor

Great Diamond Partners is a fee-based firm that serves non-high-net-worth individuals and high-net-worth individuals. The firm also works with pension and profit-sharing plans, as well as charitable organizations. 

Asset-based fees, hourly fees and fixed fees mainly make up the firm’s advisory charges, but some advisors may also earn commissions from insurance products. This can create a potential conflict of interest. However, the firm honors a fiduciary duty to protect each client’s best interests.

The firm doesn't have an account minimum, but it does charge a minimum annual fee of $5,000.

Great Diamond’s team has a range of qualifications, including the Certified Financial Planner™ (CFP®), certified exit planning advisor (CEPA) and chartered life underwriter (CLU) designations.

Great Diamond uses a number of investment methods when selecting securities. This includes fundamental analysis, technical analysis and modern portfolio theory (MPT). The firm also employs long-term purchases and margin transactions when handling client assets. 

Great Diamond says on its firm brochure that it chooses investment strategies based on each client’s risk tolerance, time horizon, financial information, liquidity needs and other factors.

Find an Advisor

Choice Wealth Advisors LLC is a fee-based advisory firm located in Waterville. The firm works with individuals and high-net-worth individuals, as well as trusts, estates, charitable organizations, businesses and retirement plans.

The firm generally requires a minimum relationship size of $250,000, though it may accept smaller accounts at the advisor’s discretion.

In addition to advisory fees, some advisory persons may earn commissions as registered representatives of Cetera Advisors LLC or as licensed insurance professionals. This can create a potential conflict of interest, but when working as advisors, the staff must act in the best interest of the client.

The firm’s team includes professionals with the Certified Financial Planner™ (CFP®) and accredited investment fiduciary (AIF) designations.

The firm’s services include investment management, financial planning and retirement plan advisory services. Its investment management services are typically discretionary and customized to the client, and the firm may recommend unaffiliated third-party investment managers or platforms for all or part of a portfolio.

Choice Wealth Advisors follows a primarily long-term investment approach. Portfolios are generally built with low-cost, diversified mutual funds and ETFs, though the firm may also use limited partnerships, REITs and legacy holdings when appropriate.