Corient has entered into an agreement to acquire H.M. Payson and Co., an $8 billion firm that is among the largest and longest-standing RIAs in Maine.
HMP also serves as a Maine chartered trust company, managing about $1.2 billion in trust assets, according to the announcement.
The pending acquisition, which is expected to close early next year, will represent Corient’s first Maine location, expanding its ability to serve clients throughout northern New England. The financial terms weren’t disclosed.
Since its founding in 1854, HMP has served high-net-worth individuals and families across Maine and the Northeast United States. The firm offers comprehensive wealth management services that cover investment management, financial planning, estate planning and trust services.
Daniel Lay, president and managing director at HMP, said in a statement that his firm shares the same culture and values as Corient.
