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Top Financial Advisors in Portland, ME

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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. In addition, try SmartAsset's free tool that matches you with as many as three financial advisors in your area.

Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 R.M. Davis Inc. R.M. Davis Inc. logo Find an Advisor

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$4,856,533,142 $300,000
  • Portfolio management
  • Financial planning
  • Selection of other advisors

Minimum Assets

$300,000

Financial Services

  • Portfolio management
  • Financial planning
  • Selection of other advisors
2 H.M. Payson H.M. Payson logo Find an Advisor

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$3,640,289,611 No set account minimum

One Portland Square

Fifth Floor

Portland, Maine 04101

Minimum Assets

No set account minimum

Financial Services

One Portland Square

Fifth Floor

Portland, Maine 04101

3 Vigilant Capital Management, LLC Vigilant Capital Management, LLC logo Find an Advisor

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$1,388,889,926 No set account minimum
  • Financial planning services
  • Portfolio management

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
4 Old Port Advisors, Inc. Old Port Advisors, Inc. logo Find an Advisor

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$834,340,100 $100,000
  • Financial planning
  • Portfolio management 
  • Pension-consulting services
  • Selection of other advisors

Minimum Assets

$100,000

Financial Services

  • Financial planning
  • Portfolio management 
  • Pension-consulting services
  • Selection of other advisors
5 HeadInvest HeadInvest logo Find an Advisor

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$680,110,874 $500,000
  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Publication of periodicals or newsletters
  • Educational seminars/workshops
  • 401(k) education
  • Outside investment analysis

Minimum Assets

$500,000

Financial Services

  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Publication of periodicals or newsletters
  • Educational seminars/workshops
  • 401(k) education
  • Outside investment analysis
6 Great Diamond Partners, LLC Great Diamond Partners, LLC logo Find an Advisor

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$468,062,863 No set account minimum
  • Financial planning
  • Portfolio management
  • Business transition planning

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Business transition planning
7 Bigelow Investment Advisors, LLC Bigelow Investment Advisors, LLC logo Find an Advisor

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$357,301,409 $300,000
  • Financial planning services
  • Portfolio management

Minimum Assets

$300,000

Financial Services

  • Financial planning services
  • Portfolio management
8 Robinson Smith Wealth Advisors, LLC Robinson Smith Wealth Advisors, LLC logo Find an Advisor

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$301,149,851 No set account minimum
  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
  • Selection of other advisors (including private fund managers)
9 Aries Wealth Management, LLC Aries Wealth Management, LLC logo Find an Advisor

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$248,697,756 $250,000
  • Financial planning
  • Portfolio management

Minimum Assets

$250,000

Financial Services

  • Financial planning
  • Portfolio management
10 Penobscot Financial Advisors Penobscot Financial Advisors logo Find an Advisor

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$173,710,840 No set account minimum
  • Financial planning services
  • Portfolio management
  • Pension consulting services

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
  • Pension consulting services

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. All information is accurate as of the writing of this article.

R.M. Davis Inc.

R.M. Davis Inc.

With a minimum account size requirement of $300,000, R.M. Davis Inc. earns its compensation through asset-based fees, hourly charges and fixed fees. The fee-only firm manages more than 5,100 clients, most of which are high-net-worth individuals and individuals. But R.M. also serves charitable organizations, pension and profit sharing plans, state or municipal government entities and corporations. 

It has the largest amount in client assets on this list.

R.M. Davis Inc. Background

Owned by eight shareholders, R.M. began its operations in 1978. The firm specializes in portfolio management, financial planning and selection of other advisors. But the firm also offers trust services, personal affairs management and wealth management.

R.M. Davis Inc. Investment Strategy

R.M.’s research and portfolio management decisions are guided by the firm’s exploration of long-term economic, social and geopolitical trends, according to its website. In its focus on long-term trends, R.M. primarily utilizes quantitative and fundamental research.

R.M. says it mainly invests in individual equities, individual fixed income securities and international equity mutual and/or exchange traded funds traded on United States stock exchanges or available through U.S.-based transfer agents.

H.M. Payson

H.M. Payson

H.M. Payson is a fee-only firm serving individuals, high-net-worth individuals, institutions, pension and profit sharing plans, investment companies, estates, trusts, foundations, charitable organizations, municipalities and corporate and business entities. H.M. serves more than 2,800 clients. 

Collectively, the firm’s staff’s qualifications feature 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.

When it comes to advisory fees, the firm charges asset-based fees and fixed fees. H.M. doesn’t require a minimum account size. 

H.M. Payson Background

Financial planning, portfolio management, pension consulting, publication of periodicals and newsletters and educational seminars are among H.M.’s key advisory services. 

The firm was founded in 1854 by Henry Martyn Payson.

H.M. Payson Investment Strategy

H.M. says it aims to reduce portfolio risk through diversification and prudent risk management. The firm also uses a variety of proprietary investment models, and it employs conservative options strategies when dealing with client portfolios. 

H.M. constructs diversified portfolios consisting of individual common stocks, including foreign companies trading as American Depository Receipts, exchange traded funds (ETFs) and mutual funds, individual bonds, fixed income securities and money market funds, according to its firm brochure.

Vigilant Capital Management, LLC

Vigilant Capital Management, LLC

Vigilant Capital Management, LLC 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 several different client types, 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 multiple 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, Inc.

Old Port Advisors manages millions 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 one of the two fee-based advisors 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.

The firm's team includes one chartered financial advisor (CFA) and one certified divorce financial analyst (CDFA). 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

HeadInvest

HeadInvest is a fee-only firm managing an array of 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.

HeadInvest's team includes one chartered financial advisor (CFA) and one certified public accountant (CPA).

HeadInvest Background

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. 

Great Diamond Partners, LLC

Great Diamond Partners, LLC

Fee-based firm Great Diamond Partners, LLC has the sixth-largest amount in assets under management (AUM) on our list. The firm serves more than 1,000 clients, including non-high-net-worth individuals, high-net-worth individuals, pension and profit sharing plans, charitable organizations and corporations. 

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 conflict of interest if advisors favor such products over non-commissioned and more suitable investments. However, the firm says it honors a fiduciary duty to protect each client’s best interests.

Great Diamond’s team presents a range of qualifications, including the certified exit planning advisor (CEPA), certified financial planner (CFP) and chartered life underwriter (CLU) designations. 

The firm doesn’t have a minimum account size requirement. 

Great Diamond Partners, LLC Background

Founded in 2019, Great Diamond primarily focuses on portfolio management, financial planning and business transition planning advisory services. 

The firm’s owners are Steven Tenney, Joseph Powers, Helen Andreoli and John Piper.

Great Diamond Partners, LLC Investment Strategy

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.

Bigelow Investment Advisors, LLC

Bigelow Investment Advisors, LLC

Bigelow Investment Advisors is a fee-only advisor managing millions 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 multiple 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, LLC

Robinson Smith Wealth Advisors has a small staff of 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's 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

Aries Wealth Management, LLC

This fee-only firm manages a notable amount in client assets. It has the fewest advisors 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

Penobscot Financial Advisors

The final firm on this list is Penobscot Financial advisors, a fee-only firm with several advisors 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. 

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