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Boston, MA Federal Street Office

Team
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Penobscot Investment Management Company, Inc. logo

Penobscot Investment Management Company, Inc.

Team

Firm-wide stats for Penobscot Investment Management Company, Inc.

Total advisors

8

Across 2 offices

Clients per advisor

69 High

Avg AUM per client

$2,689,479 Very High

HNW client ratio

58% Very High

About

Penobscot Investment Management provides discretionary portfolio management to individuals, trusts, pension and profit‑sharing plans, estates, charitable organizations and corporations, serving about 548 client accounts through a five-person advisory team. The firm reports managing approximately $1.63 billion on a discretionary basis and does not impose a formal account minimum for opening or maintaining an advisory relationship.

The firm pursues long‑term capital appreciation and income growth through broadly diversified portfolios with an emphasis on dividend‑paying companies that demonstrate above‑average dividend growth, while retaining the flexibility to invest in non‑dividend payers with strong fundamentals. Penobscot allocates across stocks, bonds and cash, will increase fixed‑income or cash exposure when it views equities as overvalued, generally avoids margin, short selling and option strategies unless a client requests them, and uses an ESG screening tool at a client’s request to evaluate corporate environmental, social and governance attributes.

Compared with many peers, Penobscot combines a long operating history (founded in 1988) with relatively large discretionary assets managed by a small team, and it provides trustee services for client accounts—subjecting those trustee accounts to independent surprise exams as required by the SEC. The firm also discloses formal referral and promoter compensation arrangements (including ongoing referral fees paid to Schwab following the TD–Schwab merger) and participates in institutional custodian programs with Schwab and Fidelity that provide operational and research services to the adviser.

Based on Penobscot Investment Management Company, Inc.

Expertise

ESG / Sustainable investing

Based on Penobscot Investment Management Company, Inc.

Location

155 Federal Street, Suite 1602

Boston MA 02210

Advisors at this office

7

Advisors at this office

user avatar

Douglas H

Boston, MA

Penobscot Investment Management Company, Inc.

Douglas Hart is a financial advisor at Penobscot Investment Management Company, Inc. with 31 years of industry experience. He has been with Penobscot since 1988, including his current tenure since 2021. Hart serves as a director of the Wildlands Trust of Southeastern Massachusetts and is an honorary trustee of the Emma Willard School. Penobscot Investment Management provides discretionary portfolio management to individuals, trusts, pension and profit-sharing plans, estates, charitable organizations, and corporations. The firm manages approximately $1.63 billion through a five-person advisory team, focusing on long-term capital appreciation and income growth with broadly diversified portfolios emphasizing dividend-paying companies with above-average dividend growth.

ESG / Sustainable investing
user avatar

Christopher C

CFA®

Boston, MA

Penobscot Investment Management Company, Inc.

Christopher Childs is a CFA® charterholder with eight years of industry experience. He has worked at Penobscot Investment Management Company, Inc. since 2023 and has prior experience at Wilmington Trust Company and People's United Advisors, Inc. Outside of his advisory role, he serves as Chair of the Investment Committee for the Suffield Historical Society and is a member of the Board of Finance & Retirement for the Town of Suffield. Penobscot Investment Management provides discretionary portfolio management to individuals, trusts, pension plans, estates, charitable organizations, and corporations. The firm emphasizes long-term capital appreciation and income growth through diversified portfolios focused on dividend-paying companies with above-average dividend growth, while maintaining flexibility to invest in non-dividend payers with strong fundamentals.

ESG / Sustainable investing
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Daniel F

Series 65

Boston, MA

Penobscot Investment Management Company, Inc.

Daniel Ford is a financial advisor at Penobscot Investment Management Company, Inc. in Boston, MA, holding a Series 65 credential and bringing 16 years of industry experience. He has been with Penobscot since 2009. Ford also serves as a trustee of accounts. Penobscot Investment Management provides discretionary and non-discretionary portfolio management to individuals, trusts, pension and profit-sharing plans, estates, charitable organizations, and corporations. The firm manages approximately $1.39 billion in client assets with a team of seven advisors, focusing on diversified equity holdings emphasizing dividend-growth companies, while employing ESG screening tools and adjusting allocations based on market valuations.

ESG / Sustainable investing
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Eugene C

Series 65

Boston, MA

Penobscot Investment Management Company, Inc.

Eugene Clapp IV is a financial advisor at Penobscot Investment Management Company, Inc. He holds a Series 65 designation and has one year of industry experience. Prior to joining Penobscot, he worked at Toast, Inc., Babson College, and HubSpot, Inc. He also serves as a director of Penobscot Capital Investment Company. Penobscot Investment Management provides discretionary portfolio management to individuals, trusts, pension and profit-sharing plans, estates, charitable organizations, and corporations. The firm manages approximately $1.63 billion through a five-person advisory team, focusing on long-term capital appreciation and income growth with broadly diversified portfolios emphasizing dividend-paying companies.

ESG / Sustainable investing
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Eugene C

Boston, MA

Penobscot Investment Management Company, Inc.

Eugene Clapp is a financial advisor at Penobscot Investment Management Company, Inc. in Boston, MA, with 31 years of industry experience. He has been with Penobscot since 1988. Outside of his advisory role, he serves as a director at King Spruce Co., Union Boat Club, Nantucket Yacht Club, and Penobscot Capital Investment Co. Penobscot Investment Management provides discretionary and non-discretionary portfolio management to individuals, trusts, pension and profit-sharing plans, estates, charitable organizations, and corporations. The firm emphasizes diversified equity holdings with a focus on dividend-growth companies and uses ESG screening tools as part of its investment process.

ESG / Sustainable investing
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Charles K

Series 63, Series 66

Boston, MA

Penobscot Investment Management Company, Inc.

Charles Kane is a financial advisor at Penobscot Investment Management Company, Inc. in Boston, MA, with 17 years of industry experience. He holds Series 63 and Series 66 designations and has been with Penobscot since 2010. Outside of his advisory role, he serves as a director and vice president of the Motor Car Company of New England and holds director positions with the Buchanan Family Foundation and the Duxbury Bay Maritime School. Penobscot Investment Management provides discretionary and non-discretionary portfolio management to individuals, trusts, pension and profit-sharing plans, estates, charitable organizations, and corporations. The firm’s investment approach emphasizes diversified equity holdings focused on dividend-growth companies, with adjustments toward fixed income or cash when equities appear overvalued, and incorporates ESG screening for S&P 500 issuers.

ESG / Sustainable investing
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Jonathan P

Boston, MA

Penobscot Investment Management Company, Inc.

Jonathan Phillips is a financial advisor at Penobscot Investment Management Company, Inc. in Boston, MA, with 22 years of industry experience. He has been with Penobscot since 2002. Phillips serves as co-trustee on two family trusts of a former co-worker. Penobscot Investment Management provides discretionary and non-discretionary portfolio management to individuals, trusts, pension and profit-sharing plans, estates, charitable organizations, and corporations. The firm emphasizes diversified equity holdings focused on dividend-growth companies and incorporates ESG screening in its investment process.

ESG / Sustainable investing
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