Penobscot Investment Management Company, INC.
Assets Under Management
$1.4B
Number of Clients
547
Number of Advisors
7
Average Client AUM
$2.5M
AUM per Advisor
$198.7M
Compensation
Fee-Only (AUM)
About This Firm
Penobscot Investment Management Co., Inc. provides investment management services with a goal of long-term capital appreciation and income growth. They invest in leading companies with substantial financial strength and consider ESG issues. Portfolios are managed with consideration to clients’ financial requirements and future expectations.
Fee Structure
AUM-Based Fees (Tiered)
| Assets Under Management | Annual Fee |
|---|---|
| Up to $1.0M | 1.00% |
| $1.0M - $2.0M | 0.80% |
| $2M+ | 0.60% |
Fees are negotiable in certain circumstances.
Fee Estimator
Penobscot's fees are charged quarterly based on the market value of assets under management. The standard annual management fee is 1.00% on the first $1,000,000, 0.80% on assets between $1,000,000.01 and $1,999,999.99, and 0.60% on assets of $2,000,000 and above. When Penobscot serves as Trustee, the annual management fee is 1.25% on the first $1,000,000, 1.05% on assets between $1,000,000.01 and $1,999,999.99, and 0.85% on assets of $2,000,000 and above. Fees are negotiable in certain circumstances. Clients may elect to have fees deducted from their accounts or be billed directly. Clients may incur additional fees charged by mutual funds and ETFs. Clients have the option to purchase investment products through other brokers or agents that are not affiliated with Penobscot, which may incur an additional fee.
Areas of Practice
Location
155 Federal Street, Suite 1602, Boston, MA, 02210