# Penobscot Financial Advisors

> Penobscot Financial Advisors is an SEC-registered investment advisory firm in Portland, ME, registered since 2017, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated April 27, 2026.

- CRD: 286211
- Filed as: PENOBSCOT FINANCIAL ADVISORS
- Legal name: Penobscot Wealth Management
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Portland, ME
- Filing period: October 2026
- Form ADV filing dated: April 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/286211
- AdvisorCensus page: https://advisorcensus.com/firm/penobscot-financial-advisors-portland-me-286211

## Quick answers

**How is Penobscot Financial Advisors compensated?**
On its Form ADV (Item 5.E, October 2026), Penobscot Financial Advisors reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**Where is Penobscot Financial Advisors located?**
Penobscot Financial Advisors' principal office is in Portland, ME, according to its Form ADV; the May 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Penobscot Financial Advisors registered with the SEC or a state?**
Penobscot Financial Advisors is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 286211.

**How much does Penobscot Financial Advisors manage?**
Penobscot Financial Advisors reports $544,532,434 in regulatory assets under management in its Form ADV filing dated April 27, 2026 (100% discretionary).

**How have Penobscot Financial Advisors' assets and staff changed since 2021?**
In the Form ADV data for Penobscot Financial Advisors: Regulatory assets under management: $229,212,942 in the October 2021 data and $544,532,434 in the October 2026 data, up 138%. Total employees: 8 in October 2021 and 12 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Penobscot Financial Advisors serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (369); high net worth individuals (193).

**Which custodians does Penobscot Financial Advisors use?**
Penobscot Financial Advisors' most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and TIAA-CREF Individual & Institutional Services, LLC as custodians holding 10% or more of its separately managed account assets.

**Does Penobscot Financial Advisors report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/286211

**Does Penobscot Financial Advisors state an account minimum?**
Its Form ADV Part 2A brochure dated April 27, 2026 says: "Penobscot Financial Advisors does not impose a minimum asset size for establishing a relationship."

**What changed in Penobscot Financial Advisors' recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 6 to 7. Regulatory assets under management went from $434,543,021 to $544,532,434 (+25%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated April 27, 2026)

- Account minimum: None

> Penobscot Financial Advisors does not impose a minimum asset size for establishing a relationship.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- TIAA-CREF Individual & Institutional Services, LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $544,532,434
- Discretionary: $544,025,369
- Non-discretionary: $507,065

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 369 | $146,348,336 |
| High net worth individuals | 193 | $396,941,693 |
| Charitable organizations | Fewer than 5 | $1,242,405 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Pension consulting services
- Educational seminars/workshops

### Firm details
- Registered since: 2017 (9 years)
- Employees: 12 total, 7 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AZ, CA, CT, FL, MA, ME, NC, NH, NY, PA, TX, VT
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the May 2026 filing
- Bangor, ME

### Websites listed on Form ADV (Item 1.I)
- anchor.fm/penobscotfa
- penobscotfa.com
- Facebook @PENOBSCOTFINANCIALADVISORS
- LinkedIn @penobscot-financial-advisors
- YouTube @UCMM5Ik3i2vUjJQIrCfjYzzA

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $229,212,942 | 8 | September 24, 2021 |
| October 2022 | $281,657,713 | 8 | February 9, 2022 |
| October 2023 | $330,567,172 | 11 | August 24, 2023 |
| October 2024 | $404,953,462 | 12 | July 29, 2024 |
| October 2025 | $434,543,021 | 11 | July 7, 2025 |
| October 2026 | $544,532,434 | 12 | April 27, 2026 |

Regulatory assets under management: $229,212,942 in the October 2021 data and $544,532,434 in the October 2026 data, up 138%.
Total employees: 8 in October 2021 and 12 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 6 to 7.
- Regulatory assets under management went from $434,543,021 to $544,532,434 (+25%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Penobscot Financial Advisors (CRD 286211): Form ADV filing data as of October 2026.