Mainebiz

February 20, 2023

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W W W. M A I N E B I Z . B I Z 15 F E B R UA R Y 2 0 , 2 0 2 3 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 in wealth transferred from their parents and are estimated to transfer $60 trillion to their children — are "extraordinary unequal." Put another way, "Now we have so many more people who are wealthy, but the dis- tribution is enormous." As more people choose Maine for retirement, some are also turning to local advisors to help manage their affairs. Mackenzie Arsenault, a principal with Cornerstone Financial Planning in Portland, says she's working with several clients who have retired and moved to Maine, as does Lebel & Harriman's Rebecca Burchill, the Falmouth firm's managing director of financial planning. "While a majority of our clients are Maine natives, recently we have seen an increase in the need for financial planning for those moving to Maine from out of state," Burchill says. At home in Maine More affordable than many traditional retirement spots and most of its regional peers, Maine offers perks for older individuals coming here from all over the country and all walks of life. Family reasons brought Maria and Phil Ptacin to Portland in 2018 from Battle Creek, Mich., where Disclosure: Investments in securities are not insured, protected or guaranteed and may result in loss of income and/or principal. Diversification does not eliminate the risk of market loss. A long-term investment approach cannot guarantee a profit. Nothing in this communication is intended to be or should be construed as individualized investment advice. Registration with the SEC should not be construed as an endorsement or an indicator of investment skill, acumen or experience. F.L.Putnam is not licensed to provide and does not provide legal, tax, or accounting advice to clients. The CFP designation is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards, Inc. (CFP Board) in the United States. The CFA designation is a graduate-level investment credential awarded by the CFA Institute. For more information on these designations, please visit www.flputnam.com. * Data as of 12/31/22. Total assets under advisement includes $4.29 billion in advisory assets under management and $1.77 billion in assets under advisement. Intellect. Integrity. Experience. $6.0B+ Assets Under Advisement * Clients 18 CFP Practitioners 13 CFA Charterholders 5 Widgery Wharf Portland, ME 04101 (207) 775-3197 www.flputnam.com Employees 1,300+ 84 Wealth Management Services: • Comprehensive financial planning • Customized equity and fixed income solutions • Strategic and tactical asset allocation • Sustainable investing • Investment consulting • Alternative investing Meet Our Portland Team: Office Locations: Portland, ME • Lynnfield, MA • Wellesley, MA • Wolfeboro, NH • New York, NY • Providence, RI C O N T I N U E D O N F O L L OW I N G PA G E » F O C U S P H O T O / T I M G R E E N WAY Maria and Phil Ptacin, who moved to Portland from Battle Creek, Mich., now live close to their three grandchildren, including four-year-old Juliette. P H O T O / C O U R T E S Y O F C O R N E R S T O N E Mackenzie Arsenault, Cornerstone Financial Planning

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