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Wealth Management for University of Maine

The Penobscot Financial Advisors Team has over 40 years of experience, making us the right partner in managing all aspects of your long-term financial success. We have close relationships with the University of Maine System employees spanning two decades, during which we have gained extensive knowledge of the university’s benefits offerings and can show you how you can best leverage those for your financial health and wellbeing.

As a Fee-Only Advisor, PFA does not receive or accept compensation from any source other than our clients. Your best interests and goals are the sole motivators behind our investment and planning decisions.

  • Over two decades of experience providing financial advice for University of Maine employees.
  • Intimate knowledge of every aspect of your HR Benefits & Retirement package.
  • Ongoing support as your lifetime Wealth Management partner.


Three Ways to Get Started

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207-990-1901

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Wealth Management For University of Maine Employees

Wealth Management is simply a combination of Financial Planning and Asset Management. It means we serve as an ongoing, holistic partner in managing all of your long-term financial success. Our extensive background in the University of Maine System offerings allows us to tailor a financial plan to optimize their benefits and your goals.

When we talk about Wealth Management, we’re really discussing the lifestyle you want to lead, both now and in the future. It’s much broader than your investments.

We’ll work together to create a personalized financial plan that captures your goals and lays out a realistic strategy for reaching them. We then match your goals with an appropriate investment strategy and manage your assets. You can go about life knowing a team of qualified advisors is monitoring your plan and managing your wealth to help achieve the lifestyle you deserve.

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Fee Structure

Our pricing is tiered based on the amount of assets we manage for a household. Fees are withdrawn directly from your managed portfolio or invoiced for payment if preferred.

Estimate Your Annual Fee:

Enter your portfolio balance below for a fee estimate.

Annual Fee

0.57%

* PFA will combine all managed assets in a household relationship when calculating fees. Fees are billed quarterly in advance, based on account balance at the end of the prior quarter.

ASSETS UNDER MANAGEMENT Annual Fee
Up to $500k 0.80%
$500k–$1.0MM 0.60%
$1.0MM–$2.5MM 0.40%
$2.5MM–$5.0MM 0.32%
Over $5.0MM 0.28%

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Our Wealth Management Process

Hiring a Wealth Manager is a significant decision. At Penobscot Financial Advisors, we built our process on transparency so you can sleep well at night, knowing your long-term financial success is handled with care. After working with University of Maine employees for 20 years, we’ve streamlined what can be a complicated process into six simple steps, and our financial advisors guide you through every stage.

  • Reach Out

    Call, email or stop by the office so we can get acquainted. We strive to build a long-lasting relationship, so we spend as much time as needed to be comfortable with each other before engaging.

  • Get Organized

    We know you’re busy and that organizing financial data is not at the top of your priority list. Instead, bring in the documents and files you have on hand. We’ll sort through everything together. Whether you work better online or on paper, we can compile a clear picture of your current financial standing.

  • Explore Goals and Possibilities

    With insight into your current financial position, it’s time to talk about the big picture and plan your finances. Working as a team, we’ll identify your financial and retirement goals, discuss what is attainable and run through various scenarios for accomplishing these objectives.

  • Formulate Strategies and Tactics

    While you ponder the future, we formalize specific recommendations to help you realize those dreams. Our financial planning work is comprehensive, objective, and tailored to you. Our investment strategy is transparent with an Investment Policy Statement that keeps everyone on the same page with how we will make your dollars work for you.

  • Create Implementation Plan

    It’s time to review our recommendations and agree on an action plan. We outline the steps and guide you through the process, explaining our proposed course of action in plain language so that you have a comprehensive understanding of your new financial plan. We will assist in account setup, transfers, and, as an investment strategy is agreed upon, invest on your behalf.

  • Monitor and Recalibrate

    Even the best-laid plans are subject to change and require flexibility. You keep us up to speed on life events that impact your plan, like a change in career or inheritance. We keep up to date on your financial position, which includes scrutinizing external factors (such as the ever-changing market and economy) and future financial planning so you stay on target to meet your financial goals.

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Resources

Even knowing where to start with financial planning can seem impossible. While we’re always with you every step of the way, we also have some helpful tools to keep things organized if you want to prepare for our first meeting ahead of time. Below, you’ll find our free resources for a quick start to your future financial planning:

When is it time to utilize a Wealth Manager?

The circumstances are unique to each person, but here are the most common ones we see:

Retirement Transition Planning

After a career of diligent saving and investing, you may feel unprepared to figure out the shift from relying on a paycheck to living off the assets you spent your life building. Many retirees and people close to retirement turn to a financial advisor to help them create a plan to maximize their wealth so they can live their desired retirement lifestyle.

Inheritance

The loss of a loved one, coupled with a large windfall, can feel overwhelming. A financial advisor can guide you on how to best use your newfound wealth to achieve your financial goals while offering comfort during these hard times.

Career Change

Job changes often have several implications for your finances: higher earnings, a new benefits package, a new employer retirement plan, and dealing with your assets from your previous employer’s plan. We have a thorough understanding of the University of Maine’s benefits. We can help you navigate your benefits package and retirement plan if you are new to the University. If you are leaving for another organization, we can assist you in dealing with your retirement account, along with managing the rest of your assets.

Save Time & Reduce Stress

Many University of Maine employees find themselves without the time, energy, or knowledge to navigate the intricacies of their benefits packages or the rest of their wealth. We are experts in both areas. We can help you understand and maximize your benefits plan and how that fits into your broader financial picture.

Aging & Diminished Capacity

As we age, we may lose cognitive capacity. Financial capacity, the ability to understand and make optimal money management decisions on your own, often declines first. Letting a proven, trustworthy advisor handle your assets gives you the peace of mind that your wealth is in good hands.

Seeking a Fiduciary or Sick of Commissions

Non-fiduciaries and commission-based advisors often put their pockets before your portfolios. Over time, those commissions can add up to a substantial portion of your wealth. We are a fiduciary and Fee-Only advisor to minimize conflicts of interest and put you first.

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Our Other Services

At Penobscot Financial Advisors, we offer several services to help you with advanced financial planning. We will never push you into a service that you don’t need, but often financial planning and asset management services work together to provide the lifestyle you deserve.

Financial Planning

Quality financial planning should be accessible. We help you identify goals and execute action plans to realize those goals in easy-to-understand terms. Let’s work together to make your goals a reality, one step at a time.
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Asset Management

We assist in matching your goals with an appropriate investment strategy and manage your assets in an objective, independent way that always has your best interests in mind.
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Wealth Management

Our most holistic offering. Wealth Management is for those who desire an ongoing partner managing all aspects of their long-term financial success.
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Plan Your Finances With PFA

We have more than 40 years of experience helping Mainers and the rest of New England with financial planning solutions. In that time, we’ve found that straight talk, transparency, and creating a personal connection with each of our clients works best for everyone involved. 

Your financial planning success isn’t just about growing some numbers in a spreadsheet, it’s about creating the life you deserve.