Updated:
Means Wealth Management
Founded in 1935, Means Wealth Management has remained a family-led operation through three generations, currently helmed by CEO Erin Barry and President...
Means Wealth Management
Founded in 1935, Means Wealth Management has remained a family-led operation through three generations, currently helmed by CEO Erin Barry and President Zachary P. Means. The firm operates as a registered investment advisor, legally bound to a fiduciary standard that eliminates commission-driven conflicts. Its client base includes high-net-worth individuals, families, businesses, and non-profit organizations, with a geographic footprint that spans its legacy base in Bangor and Presque Isle, Maine, alongside newer outposts in Greenville and Greenwood, South Carolina. The firm’s strategy centers on integrating financial planning with asset management, building customized portfolios designed to meet specific life-stage and organizational goals. It manages assets across public equities, fixed income, and cash equivalents through in-house portfolio management led by Senior Portfolio Manager Karen Oeser. For corporate and non-profit clients, the firm selects investments purely on suitability, a posture that has attracted endowments and employer retirement plans seeking plan-level fiduciary oversight and employee education. All trading is executed internally by a senior trader. A 24-person team located across Maine and South Carolina supports the advisory practice. The firm maintains an Employer Retirement Plan Advisory practice that handles compliance and employee education, broadening its reach into corporate balance sheets. May 2024: The firm listed Erik Baker as a Financial Advisor on its website, reflecting team expansion (per firm website, May 2024). The team includes multiple holders of the AIF designation and one CFA charterholder, signaling an embedded commitment to fiduciary and investment analysis standards within a community-bank-scale operation. Structurally, the firm’s longevity as a single-family-led RIA separates it from consolidator-backed wealth platforms. Three Means family members occupy senior leadership — President, Chairman, and a Senior Vice President — creating a governance model where stewardship incentives align across generations of clients. Its fiduciary posture, in-house trading desk, and direct portfolio construction bypass the outsourced CIO model common among peers, giving the investment committee direct execution control over client allocations.
General information
Firm type
Bank / Wealth / Trust
Year founded
1935
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Bangor
Corporate office
802 Stillwater Avenue, Bangor, ME 04401, United States
Additional offices
Presque Isle, ME, United States · Greenville, SC, United States · Greenwood, SC, United States
Principals
Erin Barry
Chief Executive Officer
Zachary P. Means
President
Paul B. Means
Chairman
David G. Means
Senior Vice President
Sector focus
Frequently asked questions
Who runs investment decisions at Means Wealth Management?
The investment team is led by Senior Portfolio Manager Karen Oeser, a CFA charterholder, who constructs customized portfolios. Senior Trader Wesley Leighton executes trades internally. The firm’s leadership, including CEO Erin Barry and President Zachary Means, sets overall strategy. Decisions are made by the investment committee, not outsourced to a third-party CIO.
How is the firm related to the Means family?
Three family members hold senior roles: Zachary P. Means as President, Paul B. Means as Chairman, and David G. Means as Senior Vice President. The firm was founded in 1935 and has remained under family leadership across three generations. This creates a governance structure where stewardship incentives align with long-term client outcomes.
Does Means Wealth Management use a commission-based model?
No. The firm operates as a fee-only registered investment advisor with a strict fiduciary duty to act in the best interest of clients. This means it does not earn commissions on product sales. It selects investments for corporate, non-profit, and individual portfolios based solely on suitability.
What types of clients does the firm serve?
The firm advises high-net-worth individuals, families, trusts, businesses, non-profit organizations, and endowments. It also provides employer retirement plan advisory services, which include compliance oversight and employee education. Its presence in both Maine and South Carolina reflects a bicoastal client base.
Where does Means Wealth Management invest client capital?
The firm constructs customized portfolios from public equities, fixed income, and cash equivalents. It does not market private-alternative funds or direct deals. For corporate retirement plans and endowments, it emphasizes fee-only fiduciary selection of investments aligned with each entity's unique constraints.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on registered investment advisers?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: