Finding the Top Financial Advisor Firms in Portland, Maine
If you’re considering working with a financial advisor in Portland, Maine, we can help you find one. The team at SmartAsset researched firms in the area to bring you the top financial advisors in Portland. We covered key details such as minimum investments, services offered and any advisor certifications.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Vigilant Capital Management, LLC Find an Advisor||$1,087,176,244||None|| || |
|2||Old Port Advisors, Inc. Find an Advisor||$640,480,410||$100,000|| || |
|3||HeadInvest Find an Advisor||$568,939,301||$500,000|| || |
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|4||Bigelow Investment Advisors, LLC Find an Advisor||$294,728,552||$300,000|| || |
|5||Robinson Smith Wealth Advisors, LLC Find an Advisor||$230,327,815||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||Aries Wealth Management, LLC Find an Advisor||$170,044,639||$250,000|| || |
|7||Penobscot Financial Advisors Find an Advisor||$156,837,155||None|| || |
How We Found the Top Financial Advisor Firms in Portland, Maine
First, we gathered data on all the firms in Portland, Maine that are registered with the Securities Exchange Commission (SEC). We then filtered our list by removing firms that underwent disciplinary issues filed with the SEC. We also removed those that don’t offer financial planning services or manage individual accounts. The result: our list of the top ten financial advisor firms in Portland ranked by assets under management (AUM), from largest to smallest.
Vigilant Capital Management, LLC
The top firm in Portland is Vigilant Capital Management, LLC. This is a fee-only firm, meaning the only money you’ll pay to the firm is a fee for investment management. Those fees are based on a percentage of assets under management. While the firm does not provide a minimum account size, there is a minimum annual fee of $20,000 for individual clients and $25,000 for institutional clients, so only those with relatively large accounts are likely to be candidates for the firm’s services.
Vigilant manages more than $1.08 million for clients, most of whom are high-net-worth individuals with some other individual clients who are not classified as high-net-worth. Institutional clients include charitable organizations and pension and profit-sharing plans.
There are 17 advisors working at the firm -- the most of any on this list -- including six certified financial planners (CFPs), five chartered financial advisors (CFAs), one certified public accountant (CPA) and one certified investment management analyst (CIMA).
Vigilant Capital Management, LLC Background
Vigilant was founded in 2002. The principal owner is a similarly-named parent company, VIGILANT Capital, LLC.
The firm’s services include wealth planning, investment advice, trusts, retirement planning, estate planning, tax planning, banking, insurance planning and charitable planning.
Vigilant Capital Management, LLC Investment Strategy
Vigilant puts together an investment portfolio for each client based on his or her individual needs and goals.
Nearly 60% of the assets Vigilant manages is invested in stocks traded on the exchanges. The test is split between various bond types, mutual funds and cash or cash equivalents.
Old Port Advisors, Inc.
Old Port Advisors manages more than $640 million in assets for its clients. Most of the independent clients at the firm are not high-net-worth individuals, though a smaller number are. The only institutional clients at the firm are pension and profit-sharing plans.
Old Port is the only fee-based advisor on this list. In addition to investment management fees based on a percentage of assets under management, some members of the firm may make money from selling securities to clients. The firm waives the asset management fee for any money that involves a commission. Still, this can create a conflict of interest, but when working as advisors the staff must act in the best interest of the client.
There are nine advisors at the firm, including one chartered financial advisor (CFA) and one certified divorce financial analyst (CDFA). Despite the low number of certifications, this is the second-most advisors of any firm on this list. The minimum investment is $100,000.
Old Port Advisors, Inc. Background
OPA was founded in 1994, making it the second-oldest firm on this list. Until 2014, the firm was known as Investment Management Consulting Group. Fredric P. Williams, who serves as managing director of the firm, owns 100% of the company.
The firm’s services include:
- Wealth management
- Portfolio management
- Fiduciary consulting
- Trust services
Old Port Advisors, Inc. Investment Strategy
A customer’s individual goals are important to OPA 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.
HeadInvest is a fee-only firm managing more than $568 million for its clients, which include a nearly even distribution of high-net-worth and non-high-net-worth clients. There are also institutional clients, including pension and profit-sharing plans, charitable organizations, state or municipal government entities and other corporations.
The firm has a minimum account size of $500,000. Fees are based on a percentage of assets under management.
There are seven advisor on staff at HeadInvest. The team includes one chartered financial advisor (CFA) and one certified public accountant (CPA).
HeadInvest was founded in 1989, the oldest firm on this list. It is owned entirely by the employees of the firm.
The services clients can expect from HeadInvest include financial planning, investment management, retirement planning, philanthropic planning and financial counseling.
HeadInvest Investment Strategy
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 a 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.
Bigelow Investment Advisors, LLC
Bigelow Investment Advisors is a fee-only advisor managing more than $294 million in assets. Clents of the firm are mostly regular individuals, with some high-net-worth individuals as well. Institutional clients include: pension and profit-sharing plans, charitable organizations and other corporations.
The firm has six advisors on staff, including two chartered financial advisors (CFAs), one certified financial planner (CFP) and one financial planning qualified professional (FPQP). There is a minimum account size requirement of $300,000. Investment management fees are based on a percentage of assets under management.
Bigelow Investment Advisors, Inc. Background
BIA was founded in 2007. The majority owners are Kathryn M. Dion and Gary L. Robinson. Minority owners include Gorham Savings Bank, John Benjamin Wooten and William M. Hunter.
The firm’s services are: portfolio management, investment advice and financial planning. The financial planning services are only offered to clients who also use the firm for investment advice and are generally not offered as a separate service.
Bigelow Investment Advisors, Inc. Investment Strategy
The money Bieglow invests for clients is split thusly among asset types:
- Stocks -- 53%
- U.S. Government/Agency Bonds -- 4%
- U.S. State and Local Bonds -- 2%
- Investment Grade Corporate Bonds -- 4%
- Mutual Funds -- 32%
- Cash and Cash Equivalents -- 5%
The firm uses a variety of analytical tools to decide which securities to place customer’s money in.
Robinson Smith Wealth Advisors, LLC
Robinson Smith Wealth Advisors has four advisors on its team, including four certified financial planners (CFPs), one certified investment management analyst (CIMA) and one investment advisor certified compliance professional (IACCP).
The fee-only firm manages more than $230 million. Clients include a nearly even mix of high-net-worth and non-high-net-worth individuals, plus institutional clients like charitable organizations and other corporations.
Fees for financial planning are fixed or hourly, while fees for investment management are based on a percentage of assets under management. The firm’s SEC documents do not list a minimum account size.
Robinson Smith Wealth Advisors, LLC Background
This firm was founded in 1995, making it the third-oldest on this list. The principal owner and managing member is David P. Robinson. David M. Smith bought an ownership stake and became a managing partner in 2013.
The firm helps clients with investment management, financial planning, consulting, budgeting, education funding, insurance, retirement planning and estate planning.
Robinson Smith Wealth Advisors, LLC Investment Strategy
Fundamental analysis -- reviewing the fundamental financial condition and position of companies being considered for investing -- is the main method Robinson uses for figuring out which investments are best for clients.
The money the firm manages is mostly invested in mutual funds, but securities, government bonds, corporate bonds and cash are also used.
Aries Wealth Management, LLC
This fee-only firm manages more than $170 million in assets. It has just two advisors on staff, the fewest of any firm on this list. The team at Aries includes one CPA (certified public accountant).
There is no minimum account size for asset management but a $250,000 minimum for a portfolio management. For both asset management and portfolio management, fees are based on a percentage of assets under management.
Clients of Aries are nearly evenly split between individuals of high-net-worth and those who are not. The only institutional clients are charitable organizations.
Aries Wealth Management Background
Aries was founded in 2015 -- the newest firm on this list. It is owned equally by Jason Viola and Laurie Latham, who also serve as portfolio managers for the firm.
The firm offers a variety of financial services including asset management, comprehensive portfolio management, financial planning, estate planning, tax consideration and individualized investment advice.
Aries Wealth Management Investment Strategy
At Aries, advisors use charting, cyclical analysis, fundamental analysis and technical analysis to figure out what securities to invest client money in.
Both short- and long-term purchases may be used. Investments include stocks, government bonds, corporate bonds, mutual funds and cash or cash equivalents.
Penobscot Financial Advisors
The final firm on this list is Penobscot Financial advisors, a fee-only firm with more than $156 million in assets. There are six advisors at the firm including two certified financial planners (CFPs), one chartered financial advisor (CFA) and one accredited investment fiduciary (AIF).
There is no minimum account size at Penobscot. Clients are mostly not high-net-worth, though some high-net-worth clients are on the books. The only institutional clients the firm advises are charitable organizations.
Wealth management clients pay a single fee, based on assets under management, for both investment management and financial planning. Those interested only in investment management pay a fee based on assets under management also, but on a different scale. Financial planning alone is charged as a flat annual fee.
Penobscot Financial Advisors Background
This is the second-newest firm on this list, founded in 2011. The owners are James E. Bradley III, who is the CEO, and Craig A. Joncas, who is the chief compliance officer.
The firm’s services include wealth management, financial planning, investment planning, retirement planning, personal savings, education savings and investment management.
Penobscot Financial Advisors Investment Strategy
Advisors at Penobscot use fundamental, technical, cyclical, behavioral and charting analysis to build portfolios for clients. Long-term investments are preferred, the firm’s advisors also make some short-term purchases as well.
The majority of client assets are invested in mutual funds. Stocks and cash are also used, with a small investment in bonds.