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W W W. M A I N E B I Z . B I Z 9 F E B R UA R Y 2 2 , 2 0 2 1 F O C U S W E A LT H M A N A G E M E N T / R E T I R E M E N T Kennebec Savings Bank was established in 1870 to help every member of our community save, thrive and grow. Serving the Maine banking community for over 150 years. Visit www.KennebecSavings.Bank to view a complete list of our residential and commercial products. Securities, commodity contracts and other financial investments......58% Self-employed workers ...................19% Credit intermediation and related activity ..............................13% Insurance carriers & related activity ...4% Management of companies and enterprises ...............................2% S O U R C E : Bureau of Labor Statistics, Salary.com (Maine salaries) Maine lowest base salary Maine lowest salary plus bonus Maine median base salary Maine median salary plus bonus Maine highest base salary Maine highest salary plus bonus U.S. financial specialist median salary U.S. personal financial advisor median salary $49,565 $52,387 $77,670 $86,568 $104,900 $125,057 $71,950 $87,850 aine has a strong network of wealth management firms (see list of Registered Investment Advisors in the back of this issue). This may be an area where it's an advantage to have an older population, given that many are in or near retire- ment and in need of financial management services. Here is a look at what's needed to become a wealth manager, how much it pays in Maine and what some of the specialties are. F O C U S S TA R T S O N F O L L OW I N G PA G E ยป M WEALTH MANAGER SALARIES AREAS OF SPECIALITY EDUCATION NEEDED Wealth managers have a variety of advanced degrees and or certifications. Information on state licensing board requirements for registered investment ad- visors is available from the North American Securities Administrators Association: Chartered Financial Consultant Certified Financial Planner Chartered Financial Analyst Master of Business Administration Master of Trust and Wealth Management Chartered Wealth Manager Accredited Wealth Management Advisor Certified Wealth Consultant Certified Wealth Preservation Planner