Top Financial Advisors in Bangor, ME

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Birchbrook leads off our list of the top financial advisors in Bangor. Birchwood 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 used to have a $500,000 account minimum, but it has since been eliminated. There is now no minimum account size for new clients. The firm serves individuals, high-net-worth individuals, retirement plans and charities. 

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. 

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.

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.

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Founded in 1996, Eagle Financial Strategies works with individuals, high-net-worth individuals, corporations, charitable organizations, pension plans and other business entities. Advisory services are tailored to each client’s circumstances and may include retirement planning, college funding strategies, insurance analysis and long-term financial planning. The firm has no account minimums for asset management but charges fees for services based on account size or hourly planning rates.

The firm is fee-based, as it may earn advisory fees and also receive commissions from insurance sales when clients choose to purchase recommended products. While this creates potential conflicts of interest, the firm has a fiduciary duty to disclose conflicts and act in its clients' best interests.

The team at Eagle Financial Services is made up of advisors who hold the accredited investment fiduciary (AIF), Certified Financial Planner™ (CFP®), chartered financial consultant (ChFC), chartered life underwriter (CLU), certified retirement counselor (CRC), registered Social Security analyst (RSSA) designations.

The firm's investment approach combines fundamental and technical analysis. For smaller accounts, the firm often recommends mutual funds and ETFs to provide diversification. For larger accounts, it selects individual securities to build customized portfolios. Portfolios are designed around clients’ goals, risk tolerance and liquidity needs, with allocations adjusted over time as circumstances or market conditions change. 

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At the top of the list, Means Wealth Management is a fee-based firm which has clients that are mostly individuals, with a smaller number of high-net-worth clients as well. Institutional clients include charitable organizations, government entities and corporations

There are eight advisors on staff at Means. They include a certified public accountant (CPA) and an accredited investment fiduciary (AIF). The minimum account size here is $250,000, which the firm may waive at its discretion. Fees for asset management are generally based on a percentage of assets under management.

Some advisors at this firm are insurance agents that can earn sales commissions. This is a potential conflict of interest, though all advisors are bound by their fiduciary duty to put clients' interests first.

Means Wealth Management Background

Means was founded by David G. Means in 1935. It was originally a broker-dealer and became a registered investment advisor in 2010. The firm is now wholly owned by his son,  President Paul B. Means, and CEO Zachary P. Means. In addition to its headquarters in Bangor, the firm has offices on Presque Isle, ME, and in Greenville and Greenwood, South Carolina.

The firm’s services include investment advising, asset allocation strategies, performance monitoring, market updates and educational materials. 

Means Wealth Management Investing Strategy

The firm utilizes model portfolios that are based on investment objectives and risk tolerances. The strategy involves an advisor customizing client's investments after they have reviewed their demographic, finance and other information. The portfolio construction requires consideration of asset allocation, position weightings, diversification and other factors. According to the firm, "risk tolerance will result in an investment strategy designed for growth (aggressive), moderate growth, balanced, conservative or preservation of capital. Both active and passive (index-based) management styles will be used. Portfolio holdings to existing accounts will not be changed when substitutions to a model are made."

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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 firm itself has no minimum requirement. 

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.

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Alertity Financial group is a fee-based firm that specializes in serving individuals, high-net-worth individuals as well as corporations and other businesses. The firm has five financial advisors, including one that is a certified financial planner (CFP).

The firm has no minimum investment for clients to open an account. However, Alterity generally imposes a minimum annual fee of $50 per account. 

Alterity Financial Group Background

Founded in 2010, the Alerity is owned by Jeffrey Chapman. Clients can engage with the firm to manage all or a portion of thier assets on a discretionary or non-discretionary basis.

According to the firm, "Alterity also may render non-discretionary investment management services to clients relative to variable life/annuity products that they may own, their individual employer-sponsored retirement plans, and/or 529 plans or other products that may not be held by the client’s primary custodian. In so doing, Alterity either directs or recommends the allocation of client assets among the various investment options that are available with the product. Client assets are maintained at the specific insurance company or custodian designated by the product."

Alterity and its employees are fiduciaries who are required to make the best interests of the firm’s clients.

Alterity Financial Group Investing Strategy

The firm's investing strategy involves technical analysis, fundamental analysis and cyclical analysis. The firm also chooses securities for each account based on asset allocation decisions and input from its clients that are based on the needs for immediate income and liquidity. The firm doesn't make decisions based on the attractiveness of individual stocks versus bonds. The main purpose is to maximize the accounts long-term return as well as protecting assets for its clients.

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Oldfield Wealth Partners, founded in 2018, is a small fee-based practice that provides investment advisory and financial planning services to individuals and high-net-worth individuals. The firm develops personalized financial plans that may include investment planning, retirement and college savings, tax considerations, debt management and insurance needs. Clients can also work with the firm through its portfolio management services, including both wrap fee and non-wrap fee programs. 

The firm does not impose a minimum account size but charges fixed financial planning fees ranging from $2,500 to $25,000. 

Oldfield Wealth Partners operates on a fee-based model. In addition to charging advisory fees, its owner is also licensed to sell insurance products and may receive commissions from those transactions. This creates conflicts of interest, which the firm discloses to clients and addresses through fiduciary obligations.

It's small team of advisors hold the following certifications: chartered retirement planning counselor (CRPC), chartered retirement plans specialist (CRPS) and financial paraplanner qualified professional (FPQP).

In constructing and managing portfolios, Oldfield Wealth Partners employs a mix of methods including charting, cyclical, fundamental, quantitative and technical analysis. Its investment strategies include long- and short-term trading, margin transactions, short sales and options trading. While the firm may recommend mutual funds, fixed income securities, annuities, ETFs, private placements, and precious metals ETFs, equities are generally its primary focus.