Corient to Purchase $7.9B AUM Maine RIA H.M. Payson

Corient Private Wealth announced that it has agreed to acquire $7.9B Portland, ME-based RIA H.M. Payson, expanding its footprint in northern New England.

Founded in 1854, HMP is Maine’s largest RIA and serves as a chartered trust company handling $1.2B in trust assets. The firm serves high-net-worth individuals and families across Maine and the immediate region and represents Corient’s first office in Maine. Financial terms of the transaction, which is expected to close in 2025, were not disclosed.

Corient’s Canadian parent CI Financial is in the midst of a $4.7B cash deal with Mubadala Capital to go private, as reported by Dakota on November 25. Terms of the transaction call for Corient to continue to operate independently under its own brand in the US. Miami-based Corient has more than 250 partners and 1,000 employees, managing approximately $184B in client assets.