Corient To Buy $7.9 Billion RIA H.M. Payson

Note: This headline has been corrected to reflect H.M. Payson’s accurate AUM figure

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Corient – which is one of the nation’s largest and fastest-growing national wealth advisors – announced it has agreed to acquire H.M. Payson & Co. (HMP), Maine’s largest registered investment advisory firm with $7.9 billion in assets under management. And HMP also serves as a Maine chartered trust company, managing approximately $1.2 billion in trust assets.

This deal will be Corient’s first Maine location, expanding its capabilities and ability to serve clients throughout northern New England.

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Since its founding in 1854, HMP has been dedicated to delivering exceptional service to high-net-worth individuals and families across Maine and beyond. And the firm offers comprehensive wealth management services that include expert investment management, strategic financial and estate planning, and trust and fiduciary services – all rooted in a collaborative, client-focused philosophy. With an emphasis on personalized solutions, HMP offers long-term investment strategies designed to preserve and grow wealth for generations.

Corient is a fee-only and fiduciary wealth management firm that stands out for its private partnership, similar to top professional services firms. And this distinctive approach encourages collaboration and teamwork, united around the goal of delivering exceptional client service.

Since its founding, Corient has grown rapidly. Today, it has over 250 partners and 1,000 employees managing approximately $184 billion for high-net-worth and ultra-high-net-worth individuals, families and businesses across the United States.

The deal is expected to close in 2025. And the terms were not disclosed.

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KEY QUOTES:

“Our commitment to fiduciary excellence and client-first service has been the cornerstone of HMP’s 170-year legacy.”

“By joining Corient, we can immediately offer more to our clients while staying true to the principles that have guided us for generations. We are aligned on culture and values, which emphasize earning the trust of clients through an in-depth, integrated approach tailored to each person’s individual needs. We were also impressed by Corient’s private partnership, which fosters collaboration and ensures that resources and expertise from across the firm will be available to serve our clients.”

• Daniel Lay, President and Managing Director at HMP

“HMP’s position as Maine’s largest RIA and its legacy of exceptional service make it a natural fit for Corient. I have thoroughly enjoyed getting to know their team and am excited that they are joining the Corient partnership. Their team-based approach and deep commitment to client success align perfectly with our mission to put our clients at the center of everything we do. We look forward to building on their impressive foundation to deliver even greater value to clients across Maine and the Northeast.”

• Kurt MacAlpine, Partner and Chief Executive Officer of Corient