Mainebiz

W W W. M A I N E B I Z . B I Z 21 JA N UA R Y 2 6 , 2 0 2 6 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 Given the scenario, Tenney advises on the succession planning process to achieve the best possible outcome. "I challenge their assumptions, educate them on possible outcomes and help improve their firm regard- less of whether or not they're going through a transition," he says. ere's a certain irony: succession planning is a primary wealth manage- ment service. "Most companies don't do any suc- cession planning," says Tenney. "And that's true of wealth management firms. e typical owners wear a lot of hats. ey work with clients, manage portfolios, develop new business, do financial planning, run the business. Yet there's a finite amount of time. Succession planning, even though it's incredibly important, is not urgent, so it doesn't get to the top of the pile." Tenney also seeks to address indus- try mindset around considerations such as technology and generational assumptions. "I think there's a mindset issue in the industry," he says. "It's important for firms to reconsider how they do what they do, get outside perspectives on how they execute their business plans. ings are changing more rap- idly than ever. What worked yesterday will not necessarily work tomorrow." National tie-up Gather Financial Planning, in Falmouth and Bangor, was acquired in 2024 by EP Wealth Advisors, a registered investment adviser based in Torrance, Calif. Michael Goldman and Abby Morton, who co-founded Gather Financial in 2013, have joined EP Wealth as vice presidents and advi- sors, along with three staff members. "Partnering with EP Wealth Advisors has allowed us to increase our capacity to serve families in Maine and beyond," says Goldman. e tie-up added back-office sup- port and systems that freed the Maine team to focus on serving clients and offer more services. "Our service model has always been very people-intensive — we meet with each of our clients multiple times during the year and advise them on all aspects of their financial lives, not just investments," says Goldman. "We wanted to be able to help more families, but maintain our personalized, small-team approach." He continues, "While our clients enjoy the local feel, having over $40.5 billion in assets under management as of September, 30, 2025, as part of a national firm also brings advantages in the marketplace." at includes a broader range of investment strategies that may not be commonly available in Maine. "Our little team of five has grown assets under management since join- ing EP, retained almost all our previ- ous clients and added several more families," he says. "We've also been able to expand our charitable giving in our local community." Other advantages of a larger firm are better benefits and more career opportunities. ere was no short- age of firms interested in acquiring Gather; Goldman received a number of inquiries over the years. "A few years ago I started identifying firms that I felt would be good partners," he says. "We had deep discussions with about a dozen of these." EP stood out as a good cultural fit. It helped that two other local firms, Cribstone in Maine and Resolute in New Hampshire, previously partnered with EPWA. "at meant that there was already an experienced EPWA team in place that understands the northern New England market," he says. "It also meant we would add Brunswick and Augusta offices to our existing locations in Falmouth and Bangor." As the oldest state, by median age, the need for retirement planning is increasing in Maine, he says, adding: "I expect we will continue to expand our team over the next several years." Laurie Schreiber, Mainebiz senior writer, can be reached at lschreiber @ mainebiz.b Business checking that's Smart. Smart Business Checking No monthly maintenance service charge PLUS no transaction fees up to 500 items per statement cycle: now that's Smart. Switch today at maine.bank Let us help you plan confidently for the tomorrow you deserve. Let's talk maine.bank/wealth Start today. Savor tomorrow. Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (Member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Maine Community Bank and MCB Wealth Management are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using MCB Wealth Management, and may also be employees of Maine Community Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Maine Community Bank or MCB Wealth Management. Securities and insurance offered through LPL or its affiliates are: Not insured by FDIC or any other government agency Not bank deposits | Not bank guaranteed or obligation | May lose value Partnering with EP Wealth Advisors has allowed us to increase our capacity to serve families in Maine and beyond. — Michael Goldman Gather Financial Planning

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