Means Investment provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, pension consulting, publishing newsletters, educational seminars, business succession planning, education planning, estate planning, insurance, and tax planning. Financial planning was provided to 500 clients last fiscal year. The firm advises 1 private fund.
Means Investment reports 1,375 clients. They include 908 individual clients, 394 high-net-worth individuals, and 34 corporations and other businesses. Of its assets, 88.9% ($1.42B across 3,447 accounts) are managed with discretion; $178M across 73 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 66% | 20% |
| High-net-worth individuals | 29% | 68% |
| Pension and profit-sharing plans | 1% | 7% |
| Charitable organizations | 1% | 3% |
| State or municipal government entities | <1% | <1% |
| Other client typesCorporations and other businesses | 2% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 908 | $321M | 20.1% | $353K |
| High-net-worth individuals | 394 | $1.09B | 68.4% | $2.77M |
| Pension and profit-sharing plans | 20 | $108M | 6.8% | $5.4M |
| Charitable organizations | 16 | $43.4M | 2.7% | $2.71M |
| State or municipal government entities | Fewer than 5 | $916K | 0.1% | $305K |
| Corporations and other businesses | 34 | $31.1M | 1.9% | $914K |
| Total | 1,375 | $1.59B | 100% | — |
- Clients
- 908
- Regulatory AUM
- $321M
- AUM share
- 20.1%
- Avg. per client
- $353K
- Clients
- 394
- Regulatory AUM
- $1.09B
- AUM share
- 68.4%
- Avg. per client
- $2.77M
- Clients
- 20
- Regulatory AUM
- $108M
- AUM share
- 6.8%
- Avg. per client
- $5.4M
- Clients
- 16
- Regulatory AUM
- $43.4M
- AUM share
- 2.7%
- Avg. per client
- $2.71M
- Clients
- Fewer than 5
- Regulatory AUM
- $916K
- AUM share
- 0.1%
- Avg. per client
- $305K
- Clients
- 34
- Regulatory AUM
- $31.1M
- AUM share
- 1.9%
- Avg. per client
- $914K
Total
- Clients
- 1,375
- Regulatory AUM
- $1.59B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 1
- Financial planning clients last fiscal year
- 500
Means Investment charges 1.00%–2.00% a year for its Investment Advisory Services. Each asset band is charged at its own rate. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$100K | 2.00% |
| $100K–$500K | 1.60% |
| $500K–$1M | 1.25% |
| $1M and above | 1.00% |
Fee details and sources
Other fees
- Financial Planning-Only Services
- Standard annual fee of $15,000 for financial planning-only services, which Means Wealth may waive or adjust case by case.
Zachary Means owns 75% or more of Means Investment. Erin Barry is CEO; the leadership team includes President Zachary Means and Chief Compliance Officer Dawn Hatch. It has 24 employees, 15 of them in advisory roles.
Leadership
- Erin BarryChief Executive Officer
- Zachary MeansPresident
- Dawn HatchChief Compliance Officer & Director of Finance and Administration
- Paul MeansChairman
Investment adviser representatives
13 representatives listed in the SEC register as of 9 October 2026.
- Eric Ord Baker
- Erin Leigh Barry
- David Allen Cust
- John Russell Dudley
- Thomas J Herlihy
- Chad William Kelley
- Alexander Michael Means
- David Gay Means
- Paul Banwell Means
- Zachary Paul Means
- Karen Oeser
- Jamie Tabor Stone
- Stacey J Young
Staff
- 24 employees
- 15 in advisory functions
- 15 state-registered reps
- Owns 75% or more of Means Investment Co., Inc.
Zachary Means
Control person · since September 2021
- Owns 25% to 50% of Means Investment Co., Inc.
Paul Means
Control person · since September 2021
Means Investment’s regulatory assets grew 2.4× from $674M (April 2021) to $1.59B (September 2026); clients rose from 976 to 1,375 and employees from 14 to 24.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Sep 2026September 2026 | $1.59B | 1,375 | 24 | 6 |
| May 2025May 2025 | $1.31B | 1,324 | 22 | 6 |
| Jul 2024July 2024 | $977M | 1,274 | 20 | 5 |
| Jul 2023July 2023 | $744M | 1,205 | 19 | 5 |
| Jul 2022July 2022 | $860M | 1,069 | 16 | 6 |
| Apr 2021April 2021 | $674M | 976 | 14 | 5 |
Besides its headquarters, Means Investment has 5 offices (2 private residences, listed without an address), with 4 listed addresses across 2 states.
Maine · 2 listed addresses
- 802 Stillwater Ave., BangorHQ
- 3 Houlton Road, Presque Isle
South Carolina · 2 listed addresses
- 325 Augusta St, Greenville
- 104 Maxwell Ave, Greenwood
Contact and registration details
- Legal name
- Means Investment Co., Inc.
- Headquarters
- 802 Stillwater Ave., Bangor, ME 04401-3614
- Website
- meansinvestment.com
- Phone
- 12079476763
- @means-wealth-management
- SEC file
- 801-80992
- Founded
- 1935
- Structure
- Maine corporation
- Fiscal year end
- December
Means Investment’s named custodian for separately managed accounts is Fidelity ($1.48B). Means Investment does not have custody of client assets.
- FidelityFidelity Brokerage Services LLC · Boston, MA · $1.48B100%
At year end, Means Investment’s separately managed accounts were mostly in funds (56%) and stocks (38%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.32B across 209 positions; the largest are Vanguard Index Fds (17.9%), Vanguard Intl Equity Index F (7.9%) and Invesco Exchange Traded FD T (7.5%).
What the accounts hold
- Stocks38%
- Funds56%
- Bonds3%
- Cash2%
- Other1%
- Pooled investments/non exchange-traded equity/us state and local bonds = all less than 1% each1%
Reported 13F holdings
- $1.32B
- Reported 13F value
- 209
- Positions
- 59.7%
- In the 10 largest
- —
- Value vs. prior quarter
- Vanguard Index Fds · S&P 500 ETF Shs17.9%
- Vanguard Intl Equity Index F · Allwrld EX US7.9%
- Invesco Exchange Traded FD T · S&P 500 Top 507.5%
- Apple Inc.6.5%
- Nvidia Corporation4.0%
- American Centy ETF TR · US Sml CP Valu3.6%
- Amazon Com Inc.3.4%
- Vanguard World FD · Mega Grwth Ind3.1%
- iShares TR · Mrgstr MD CP ETF3.0%
- Microsoft Corp.2.8%
Together, the ten largest are 59.7% of reported value.
How many clients does Means Investment have?
Means Investment has 1,375 clients and manages $1.59 billion for them, as of September 2026. They include 908 individual clients, 394 high-net-worth individuals, and 34 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 14 September 2026
What services does Means Investment offer?
Means Investment provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, pension consulting, publishing newsletters, educational seminars, business succession planning, education planning, estate planning, insurance, and tax 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 Means Investment charge?
Means Investment charges 1.00%–2.00% a year for its Investment Advisory Services. Each asset band is charged at its own rate.
Source: MEANS WEALTH MANAGEMENT 2A & 2B BROCHURE, filed 14 September 2026
Which custodians does Means Investment use?
Means Investment’s separately managed account assets are held at Fidelity Brokerage Services LLC (Boston, MA), with $1.48B. 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 September 2026
How many financial advisors does Means Investment have?
Means Investment has 15 investment adviser representatives registered with state securities authorities, out of 24 employees, and 15 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 Means Investment invest in?
At the end of its last fiscal year, Means Investment’s separately managed accounts held 56% registered funds (mutual funds, ETFs, BDCs), 38% exchange-traded equities, 3% U.S. government and agency bonds, 2% cash and equivalents and 1% other. The 1% other category is described as: Pooled Investments/Non Exchange-Traded Equity/US State and Local Bonds = All Less Than 1% Each. It advises 1 private fund.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Means Investment?
Means Investment’s direct owners are Paul Means (25% to 50%) and Zachary Means (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 14 September 2026
How does Means Investment get paid?
Means Investment is paid through a percentage of assets under management, hourly charges and other compensation. 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 Means Investment?
Means Investment’s main office is at 802 Stillwater Ave., Bangor, ME 04401-3614. Its phone number is 12079476763. Its website is meansinvestment.com.