FAQs

Penobscot Financial Advisors is a Maine-based, SEC-registered investment advisory firm dedicated to helping clients across the country achieve their financial goals. For over 20 years, we’ve provided comprehensive financial planning and investment management services designed around one core principle: acting in your best interest, 100% of the time.We don’t sell products or earn commissions — we simply offer transparent, objective advice to help you save, plan, invest, and grow wealth. Many of our clients choose to combine financial planning and asset management into a full wealth management relationship, giving them a complete, team-based approach to their finances.

Working with a fiduciary means your advisor is legally and ethically obligated to put your interests first — always. Unfortunately, not every advisor operates this way. Many follow a “suitability” standard, where recommendations only need to be appropriate, not necessarily best.

At PFA, we go beyond suitable. As a fee-only fiduciary, we eliminate conflicts of interest by never accepting commissions or third-party incentives. Our advice is based solely on your goals, your needs, and your success — not on what pays us more.

Transparency is at the heart of how we operate. PFA is a fee-only advisory firm, which means we’re paid only by our clients — not by financial product companies, fund providers, or commissions. This model ensures that every recommendation we make is objective and aligned with your best interests.

Unlike “fee-based” advisors, who may still receive commissions in addition to advice fees, our compensation is straightforward. When you work with us, you can trust that our focus is on helping you achieve your financial goals — not selling you products.

We believe financial advice should be clear and so should its cost. At PFA, our pricing is transparent and designed to align with the level of service you choose:

• Financial Planning Only: $4,800–$7,200 annually, billed monthly, based on your household complexity and assets.
• Wealth Management: A tiered structure starting at 1% on the first $1 million, 0.6% on the next $4 million, and 0.4% on assets above $5 million. A minimum annual fee of $4,800–$7,200 applies.

During our first meeting, we’ll walk through which approach makes the most sense for your situation.

When you partner with PFA, you’re not hiring a single advisor — you’re gaining a team of experts committed to your financial success. Your dedicated team includes two advisors and a client service associate, supported by paraplanners and a CFA-led investment committee.

Here’s what that means for you:

• Proactive communication to keep you on track
• Unlimited meetings and support — call or email anytime
• Customized financial strategies built for your goals
• Tax-efficient portfolio monitoring and regular performance reviews

Our job is to meet you where you are and help you get where you want to go.

Our comprehensive six-step planning process is designed to simplify complexity and guide you toward your goals:

1. Discovery: We get to know your situation, priorities, and objectives.
2. Engagement: We formalize the relationship and outline our services.
3. Plan Creation: We build a tailored strategy addressing key areas like budgeting, retirement, taxes, and estate planning.
4. Implementation: We help you put the plan into action — step by step.
5. Monitoring: We review and update regularly as life changes.
6. Annual Review: We meet at least annually to ensure your plan stays aligned with your evolving goals.

Our investment approach is systematic, strategic, and entirely personalized:

• Portfolio Analysis: We evaluate your current holdings, goals, and risk tolerance.
• Strategy Development: We design a plan and document it in an Investment Policy Statement (IPS).
• Implementation: We transition assets thoughtfully, with tax efficiency in mind.
• Monitoring: We continuously track performance, markets, and opportunities.
• Ongoing Communication: Weekly market updates, quarterly commentary, and annual reviews keep you informed and confident.

Three things set PFA apart:

1. Fiduciary Commitment: We act in your best interest — always.
2. Independently Owned and Operated: We live and work in Maine and are registered with the Securities Exchange Commission directly, meaning there is no “corporate” we are beholden to, just local professionals supporting our clients in reaching their goals.
3. Team-Based Service: Our collaborative approach gives you access to a range of expertise.
4. Long-Term Partnership: We focus on relationships, not transactions, adapting as your goals evolve.

We combine transparent pricing, evidence-based strategies, and a deeply personalized experience to build lasting financial partnerships.

Our clients come from all walks of life — from young professionals starting their careers and building wealth to retirees seeking reliable income. Many have $500,000+ in investable assets, but we have no strict minimum assets and work with clients at every stage of their financial journey.

We specialize in serving:

• Educators and faculty — over half of our clients work in higher education.
• Pre-retirees and retirees focused on preserving wealth and income planning.
• Professionals and families seeking a long-term partner for comprehensive planning and investment management.

If you’re looking for personalized guidance and a collaborative relationship, you’re likely a great fit.

Financial Planning focuses on strategy — from budgeting and debt management to retirement, tax, and estate planning. You implement our recommendations yourself.

Wealth Management goes further, combining planning with discretionary asset management. We actively manage your portfolio — buying, selling, rebalancing, and optimizing for performance and tax efficiency — so you can focus on living your life.

Many clients start with planning and transition to wealth management as their needs grow.

We manage investments with discretion — meaning we place trades on your behalf based on the strategy we’ve agreed upon in your Investment Policy Statement. This allows us to act quickly, rebalance as needed, and implement tax strategies efficiently.

You’ll always have full visibility through:

• Trade confirmations and custodial statements
• Quarterly performance reports
• Our secure client portal
• Annual or semi-annual review meetings

Transparency is central to our process, even if you’re not approving each individual trade, each trade supports agreed upon goals and preferences we initially agree upon and then routinely update as your needs change.

Absolutely. We can tailor your portfolio to honor your values — whether that means avoiding certain industries (like fossil fuels, tobacco, or defense) or emphasizing ESG (Environmental, Social, and Governance) investing.

Our goal is to align your investments with your priorities while maintaining proper diversification and pursuing strong performance. Values-based investing is part of building a portfolio that’s truly yours.