Birchbrook provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, publishing newsletters, educational seminars, education planning, and estate planning. Financial planning was provided to 26–50 clients last fiscal year.
Birchbrook reports 320 clients. They include 196 individual clients, 114 high-net-worth individuals and 9 charitable organizations. Of its assets, 97.7% ($290M across 828 accounts) are managed with discretion; $6.69M across 35 accounts are not. It advised 3 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 61% | 17% |
| High-net-worth individuals | 36% | 78% |
| Pension and profit-sharing plans | <1% | 2% |
| Charitable organizations | 3% | 3% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 196 | $51.4M | 17.3% | $262K |
| High-net-worth individuals | 114 | $230M | 77.6% | $2.02M |
| Pension and profit-sharing plans | Fewer than 5 | $4.83M | 1.6% | $4.83M |
| Charitable organizations | 9 | $10.1M | 3.4% | $1.12M |
| Total | 320 | $296M | 100% | — |
- Clients
- 196
- Regulatory AUM
- $51.4M
- AUM share
- 17.3%
- Avg. per client
- $262K
- Clients
- 114
- Regulatory AUM
- $230M
- AUM share
- 77.6%
- Avg. per client
- $2.02M
- Clients
- Fewer than 5
- Regulatory AUM
- $4.83M
- AUM share
- 1.6%
- Avg. per client
- $4.83M
- Clients
- 9
- Regulatory AUM
- $10.1M
- AUM share
- 3.4%
- Avg. per client
- $1.12M
Total
- Clients
- 320
- Regulatory AUM
- $296M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 3
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 26–50
Birchbrook charges 0.50%–1.25% for its Investment Management Fees. The brochure does not state whether the rate is annual. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable. The brochure also prices 2 other services, listed under fee details.
| Asset band | Rate (period not stated) |
|---|---|
| $0–$100K | 1.25% |
| $100K–$500K | 1.00% |
| $500K–$1M | 0.90% |
| $1M–$3M | 0.75% |
| $3M and above | 0.50% |
Fee details and sources
Other fees
- Financial planning
- Initial financial plan $2,000; additional planning meetings $1,000 each; annual plan review and update $500; discounted for clients who also use investment management.
- Specialized consulting
- Specialized consulting is $200 an hour for advisory services and $100 an hour for paraplanner services, including cost basis, education, estate planning and portfolio consulting.
Lucie Estabrook owns 75% or more of Birchbrook. Lucie Estabrook is CEO; the leadership team includes Chief Investment Officer Charles Mussallem and Chief Compliance Officer Jennifer Eastman. It has 7 employees, 5 of them in advisory roles.
Staff
- 7 employees
- 5 in advisory functions
- 5 state-registered reps
- Owns 75% or more of Birchbrook
Lucie Estabrook
Control person · since January 2019
- Owns 25% to 50% of Birchbrook
Jennifer Eastman
Control person · since January 2019
Birchbrook’s regulatory assets grew from $211M (June 2021) to $296M (April 2026); clients rose from 237 to 320 and employees from 5 to 7.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Apr 2026April 2026 | $296M | 320 | 7 | 2 |
| May 2025May 2025 | $259M | 293 | 7 | 1 |
| Mar 2024March 2024 | $245M | 284 | 7 | 1 |
| May 2023May 2023 | $214M | 270 | 7 | 1 |
| Jun 2022June 2022 | $246M | 254 | 7 | 1 |
| Jun 2021June 2021 | $211M | 237 | 5 | 1 |
Besides its headquarters, Birchbrook has 1 office, with 2 listed addresses across 2 states.
Florida · 1 listed address
- 5801 Philips Hwy, Jacksonville
Maine · 1 listed address
- 82 Columbia St, BangorHQ
Contact and registration details
- Legal name
- Birchbrook
- Headquarters
- 82 Columbia St, Bangor, ME 04401
- Website
- birchbrook.com
- Phone
- 207-990-1117
- @birchbrook
- SEC file
- 801-36582
- Founded
- 1994
- Structure
- Maine corporation
- Fiscal year end
- December
Birchbrook’s named custodian for separately managed accounts is Charles Schwab ($259M). Birchbrook has custody of $154M for 295 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $259M100%
At year end, Birchbrook’s separately managed accounts were mostly in stocks (57%) and bonds (34%). Its reported 13F holdings for the quarter ended 30 June 2026 total $213M across 305 positions; the largest are Vanguard Scottsdale Fds (15.8%), iShares TR (12.0%) and Vanguard Tax-managed Fds (6.4%).
What the accounts hold
- Stocks57%
- Bonds34%
- U.S. government and agency bonds20%
- Investment grade corporate bonds12%
- State and local bonds1%
- High-yield corporate bonds1%
- Cash9%
How many clients does Birchbrook have?
Birchbrook has 320 clients and manages $296 million for them, as of April 2026. They include 196 individual clients, 114 high-net-worth individuals and 9 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 14 April 2026
What services does Birchbrook offer?
Birchbrook provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, publishing newsletters, educational seminars, education planning, and estate planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Birchbrook charge?
Birchbrook charges 0.50%–1.25% for its Investment Management Fees. The brochure does not state whether the rate is annual. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
Source: BIRCHBROOK FORM ADV PART 2A BROCHURE, filed 31 March 2026
Which custodians does Birchbrook use?
Birchbrook’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $259M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 14 April 2026
How many financial advisors does Birchbrook have?
Birchbrook has 5 investment adviser representatives registered with state securities authorities, out of 7 employees, and 5 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Birchbrook invest in?
At the end of its last fiscal year, Birchbrook’s separately managed accounts held 57% exchange-traded equities, 20% U.S. government and agency bonds, 12% investment grade corporate bonds, 9% cash and equivalents, 1% state and local bonds and 1% high-yield corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Birchbrook?
Birchbrook’s direct owners are Lucie Estabrook (75% or more) and Jennifer Eastman (25% to 50%).
Source: Form ADV Part 1A, Schedules A and B, filed 14 April 2026
How does Birchbrook get paid?
Birchbrook is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Birchbrook?
Birchbrook’s main office is at 82 Columbia St, Bangor, ME 04401. Its phone number is 207-990-1117. Its website is birchbrook.com.