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RIAs by state · SEC data as of October 1, 2026

RIAs in Maine

The SEC-registered investment advisers based in Maine, what they manage, and the largest independent wealth managers.

Maine is home to 28 wealth-focused RIAs managing $28B, 41st of 51 states and DC. The largest is H.M. Payson in Portland, with $9.1B.

Wealth-focused RIAs
28
41st of 51
Their assets
$28B
39th of 51
$1B+ firms
4
Median $271M
All SEC RIAs
32
472 employees

Largest independent wealth managers in Maine

Largest independent wealth managers headquartered in Maine
#FirmHeadquartersRegulatory AUMIndividual clientsEmployees
1H.M. PaysonSEC recordPortland$9.1B3,96134
2R M Davis IncSEC recordPortland$8.2B2,34263
3Means Wealth ManagementSEC recordBangor$1.6B1,30224
4Portland Global Advisors LLCSEC recordPortland$1.2B30013
5HeadinvestSEC recordPortland$892M42313
6Great Diamond Partners, LLCSEC recordPortland$804M52312
7Old Port AdvisorsSEC recordPortland$783M81614
8Aries Wealth Management, LLCSEC recordPortland$659M1646
9Bigelow Investment Advisors, LLCSEC recordPortland$555M3148
10Robinson Smith Wealth Advisors, LLCSEC recordSouth Portland$445M2288
11Choice Wealth Advisors LLCSEC recordWaterville$323M6024
12BirchbrookSEC recordBangor$296M3107
13RM Financial Services, LLCSEC recordFalmouth$245M3904
14J.M. Arbour, LLCSEC recordGardiner$183M72012
15Richard Brothers, Financial AdvisorsSEC recordSouth Portland$181M17310

Ranked by regulatory assets under management on each firm’s latest Form ADV. Excludes broker-dealers’ advisory arms and managed-account platforms. Nationally: the 100 largest RIAs.

Questions

How many RIAs are there in Maine?

32 SEC-registered investment advisers have their main office in Maine, and 28 of them are wealth-focused, managing at least half of their assets for individuals and high-net-worth clients. That ranks Maine 41st of 51 states and DC, according to Financial ADVSR’s count of SEC data as of October 1, 2026.

What is the largest RIA in Maine?

H.M. Payson, based in Portland, is the largest independent wealth manager headquartered in Maine, with $9.1B in regulatory assets under management and 3,961 individual clients on its latest Form ADV.

How much do Maine RIAs manage?

Wealth-focused RIAs based in Maine report $28B in regulatory assets under management, 39th among the states. 4 of them manage $1 billion or more; the median manages $271M.

How we built this

The SEC publishes a list of every registered investment adviser, drawn from each firm’s Form ADV. We used the list current through October 1, 2026, kept the 16,943 advisers the SEC shows as approved, and placed each in the state of its main office; 14,641 are based in the United States. Regulatory assets under management come from Item 5.F, client counts from Item 5.D.

Wealth-focused RIAs manage at least half of their assets for individuals and high-net-worth clients, the same test as our RIA Custody Tracker; there are 8,130 in the US. Rankings and each state’s largest-firms list show independent wealth managers only: wealth-focused firms that offer financial planning, are not themselves broker-dealers, and hold less than half their assets in wrap programs they sponsor or manage. That leaves out wirehouse and broker-dealer advisory arms and managed-account platforms, which still count in each state’s totals.

What it doesn’t show

  • State-registered advisers, most of which manage less than $100 million, register with their state regulator and aren’t in SEC data.
  • A firm counts only in its main office state, though many have offices in several.
  • Figures are as of each adviser’s latest annual Form ADV update, usually its December 31 fiscal year-end, so they lag recent deals.
  • Firms that file under more than one registration (an RIA and a separate institutional arm, for example) appear as separate advisers.

The data is free to use with credit to Financial ADVSR. Questions or corrections: contact the editors.

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