R M Davis provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers. Financial planning was provided to 1,000 clients last fiscal year.
R M Davis reports 2,437 clients. They include 1,300 high-net-worth individuals, 1,042 individual clients and 57 charitable organizations. Of its assets, 99.7% ($8.13B across 6,102 accounts) are managed with discretion; $22.8M across 22 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 43% | 8% |
| High-net-worth individuals | 53% | 85% |
| Pension and profit-sharing plans | <1% | <1% |
| Charitable organizations | 2% | 4% |
| State or municipal government entities | <1% | <1% |
| Other client typesCorporations and other businesses | <1% | 1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 1,042 | $649M | 8.0% | $623K |
| High-net-worth individuals | 1,300 | $6.97B | 85.5% | $5.36M |
| Pension and profit-sharing plans | 10 | $50.1M | 0.6% | $5.01M |
| Charitable organizations | 57 | $358M | 4.4% | $6.27M |
| State or municipal government entities | 6 | $15.2M | 0.2% | $2.53M |
| Corporations and other businesses | 22 | $111M | 1.4% | $5.03M |
| Total | 2,437 | $8.15B | 100% | $3.35M |
- Clients
- 1,042
- Regulatory AUM
- $649M
- AUM share
- 8.0%
- Avg. per client
- $623K
- Clients
- 1,300
- Regulatory AUM
- $6.97B
- AUM share
- 85.5%
- Avg. per client
- $5.36M
- Clients
- 10
- Regulatory AUM
- $50.1M
- AUM share
- 0.6%
- Avg. per client
- $5.01M
- Clients
- 57
- Regulatory AUM
- $358M
- AUM share
- 4.4%
- Avg. per client
- $6.27M
- Clients
- 6
- Regulatory AUM
- $15.2M
- AUM share
- 0.2%
- Avg. per client
- $2.53M
- Clients
- 22
- Regulatory AUM
- $111M
- AUM share
- 1.4%
- Avg. per client
- $5.03M
Total
- Clients
- 2,437
- Regulatory AUM
- $8.15B
- AUM share
- 100%
- Avg. per client
- $3.35M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1000
R M Davis charges 0.35%–1.00% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable. The brochure also prices 4 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$1M | 1.00% |
| $1M–$3M | 0.65% |
| $3M–$6M | 0.50% |
| $6M and above | 0.35% |
Fee details and sources
Other fees
- Comprehensive financial planning
- A comprehensive personal financial plan is a one-time, non-negotiable flat fee of $5,000, half at the outset and half on completion.
- Personal affairs management
- Personal affairs management typically costs $7,500 to $15,000 a year, billed quarterly in advance.
- Portfolio consulting
- Portfolio consulting fees are negotiated and are not normally less than $500 per hour.
- Trustee services
- Trustee services for irrevocable trusts carry an annual fee of 0.4% of managed trust assets, a negotiated fee, or a flat $1,000 for an irrevocable life insurance trust.
Brian Noyes owns 25% to 50% of R M Davis. The leadership team of R M Davis includes President Scot Draeger. It has 63 employees, 25 of them in advisory roles.
Staff
- 63 employees
- 25 in advisory functions
- 22 state-registered reps
- Owns 25% to 50% of R M Davis Inc
Brian Noyes
Control person · since January 1993
- Owns 25% to 50% of R M Davis Inc
Geoffrey Alexander
Control person · since January 2004
- Owns 5% to 10% of R M Davis Inc
Wendy Laidlaw
Control person · since January 2002
- Owns 5% to 10% of R M Davis Inc
Scot Draeger
Control person · since January 2017
R M Davis’ regulatory assets grew 1.5× from $5.38B (March 2021) to $8.15B (March 2026); clients were 2,437 in both filings and employees rose from 47 to 63.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $8.15B | 2,437 | 63 | 3 |
| Jun 2025June 2025 | $7.27B | 2,373 | 61 | 3 |
| Mar 2024March 2024 | $6.32B | 2,360 | 57 | 2 |
| Apr 2023April 2023 | $5.76B | 2,352 | 55 | 2 |
| Jan 2022January 2022 | $6.8B | 2,420 | 50 | 2 |
| Mar 2021March 2021 | $5.38B | 2,474 | 47 | 2 |
Besides its headquarters, R M Davis has 2 offices, with 3 listed addresses across 2 states.
Maine · 2 listed addresses
- 24 City Center, PortlandHQ
- 22 Free Street, Portland
New Hampshire · 1 listed address
- One Harbour Place, Portsmouth
Other business names
R M Davis has reported 1 other business name to the SEC.
- R M Davis
Contact and registration details
- Legal name
- R M Davis Inc
- Headquarters
- 24 City Center, Portland, ME 04101-4069
- Website
- rmdavis.com
- Phone
- 207-774-0022
- @r-m-davis-inc-
- SEC file
- 801-13878
- Structure
- Maine corporation
- Fiscal year end
- December
R M Davis’ named custodians for separately managed accounts are Charles Schwab ($6.21B, 80%) and Fidelity ($1.59B, 20%). R M Davis has custody of $3.78B for 1,171 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $6.21B80%
- FidelityNational Financial Services LLC · Smithfield, RI · $1.59B20%
At year end, R M Davis’ separately managed accounts were mostly in stocks (56%) and funds (20%). Its reported 13F holdings for the quarter ended 30 June 2026 total $6.34B across 280 positions; the largest are State Str SPDR S&P 500 ETF T (5.8%), Apple Inc. (5.3%) and Alphabet Inc. (5.1%).
What the accounts hold
- Stocks56%
- Funds20%
- Bonds19%
- Investment grade corporate bonds13%
- State and local bonds5%
- U.S. government and agency bonds1%
- Cash5%
How many clients does R M Davis have?
R M Davis has 2,437 clients and manages $8.15 billion for them, as of March 2026. They include 1,300 high-net-worth individuals, 1,042 individual clients and 57 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026
What services does R M Davis offer?
R M Davis provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does R M Davis charge?
R M Davis charges 0.35%–1.00% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable.
Which custodians does R M Davis use?
R M Davis’ separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $6.21B and National Financial Services LLC (Smithfield, RI), with $1.59B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026
How many financial advisors does R M Davis have?
R M Davis has 22 investment adviser representatives registered with state securities authorities, out of 63 employees, and 25 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 R M Davis invest in?
At the end of its last fiscal year, R M Davis’ separately managed accounts held 56% exchange-traded equities, 20% registered funds (mutual funds, ETFs, BDCs), 13% investment grade corporate bonds, 5% state and local bonds, 5% cash and equivalents and 1% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns R M Davis?
R M Davis’ direct owners are Brian Noyes, Wendy Laidlaw, Geoffrey Alexander and Scot Draeger, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 30 March 2026
How does R M Davis get paid?
R M Davis 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 R M Davis?
R M Davis’ main office is at 24 City Center, Portland, ME 04101-4069. Its phone number is 207-774-0022. Its website is rmdavis.com.
