H.M. Payson & Co. offers investment management and wealth management services. They actively manage stock and bond portfolios, and for smaller accounts (generally under $400,000), they use mutual funds and exchange-traded funds. They also offer trust, tax, financial, and estate planning services. Clients work with a dedicated portfolio manager to create a personalized investment plan. H.M. Payson is being acquired by Corient Private Wealth LLC.
Fee Structure
Portfolio-Based Fees (Tiered)
| Portfolio Value | Annual Fee |
|---|---|
| Up to $1.0M | 1.00% |
| $1.0M - $5.0M | 0.60% |
| $5M+ | 0.40% |
For clients that Machias Savings Bank refers to H.M. Payson, the annual fee is 0.25% on all assets. Related accounts may be consolidated for fee calculation purposes. Certain long-standing accounts may be grandfathered at a lower fee rate. Qualified charitable organizations are typically accorded a 10% discount off the fee schedule.