Bangor wealth management firm under new ownership
Courtesy / Deighan Wealth Advisors
From left, Deighan Wealth Advisors' new owners, Jennifer Eastman, Lucie Estabrook and Jenifer Butler join Jean Deighan, who co-founded the firm with Butler in 1994. Deighan will stay on with the Bangor wealth management firm and said she is pleased to be “part of their next chapter.”
Bangor’s Deighan Wealth Advisors, a member of the city’s business community for 25 years, is under new ownership.
Deighan team members Lucie Estabrook and Jenifer Butler have been joined by local attorney Jennifer Eastman to buy the independent, privately owned investment advisory and financial planning firm, which also employs two support staff.
Terms of the acquisition were not disclosed. The transition closed Feb. 15. Deighan Wealth Advisors will remain in its current location at 455 Harlow St. in Bangor.
Estabrook, who joined the firm in 2010, will serve as CEO. She told Mainebiz in a Monday phone interview that while not much will change in terms of how the firm is managed, the plan is to improve services in a couple of areas, including clients’ online experience.
“We provide financial and retirement planning services, as well as investment management services, and that will continue,” Estabrook added. She said the firm has clients all over Maine and 18 other states, including retirees who used to live here and second- and third-generation family members.
“If you take care of people,” she said, “they don’t want to go because they know you’re there watching over them. In any service business, that’s the key.”
Butler, who co-founded the firm with Jean Deighan in 1994, will continue as chief investment officer, while attorney Jennifer Eastman recently joined from Rudman Winchell in Bangor and will serve as chief operating officer.
Deighan to stay on
Deighan said in a news release that she was pleased to stay on with the new ownership team and “be a part of their next chapter.”
“This team has served our clients well for a quarter-century,” she said. “It’s not just about solid portfolio advising and financial planning, it’s also about making sure the client is happy with the end result. It’s about staying true to our values: honesty, respect, responsibility, fairness, and community. We’ve worked hard to build this business, and I have great confidence in this next generation of talented leaders.”
Deighan was the recipient of the Norbert X. Dowd Award from the Bangor Region Chamber of Commerce in 2018, recognizing “a member of the business community whose commitment of time, resources and talent has made the Bangor region a better place to pursue one’s livelihood and dreams.”
She also was also named in 2018 as one of 50 Mainers “Balancing Heritage and Progress” by Maine Magazine.
Estabrook told Mainebiz on Monday that the team had considered various succession plans when Deighan had looked at retirement, and that it’s good she’s staying on.
“She still has a lot of energy and a lot of excitement and still cares a lot about the organization and the clients,” Estabrook said. “It’s been a very good transition.”
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