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Key Facts
- At least 15 family offices and wealth management firms serve New Hampshire families. These span single family offices (SFOs), multi-family offices (MFOs), trust companies, and registered investment advisers.
- Hemenway Trust Company leads the state with roughly $8.6 billion in fiduciary responsibility as of December 2024, combined with its affiliate Hemenway & Barnes LLP.
- Lake Street Advisors manages $3.1 billion in regulatory assets under management (RAUM) from Portsmouth, serving about 79 high-wealth family clients.
- Portsmouth and Bedford are the two primary hubs for family office activity. Additional offices operate in Manchester, Salem, Lebanon, and Kensington.
- New Hampshire levies no state income tax and no capital gains tax. Its directed trust and dynasty trust statutes make the state a national destination for trust domiciling.
- Office types range from dedicated SFOs like Kensington Investment Company to shared platforms like Market Street Trust Company, which evolved from the Houghton family's 1909 single family office.
- Client minimums vary from $4 million in liquid assets at Ballentine Partners to $100 million or more at dedicated SFO platforms.
Landscape Overview
New Hampshire's family office ecosystem draws strength from the state's trust law framework. Zero state income tax, zero capital gains tax, directed trust statutes, perpetual dynasty trusts, and favorable decanting provisions have turned the Granite State into a magnet for ultra-high-net-worth (UHNW) families. Families from high-tax states routinely domicile trusts here to reduce liability on pre-IPO stock and other concentrated positions.
The market spans every major office type. SFOs include Kensington Investment Company (Lewis family), The Crosby Company, and Orbit Group. MFOs such as Lake Street Advisors, Hemenway Trust Company, and Ballentine Partners serve multiple families with broad service menus. Market Street Trust Company operates as a client-owned shared family office. Trust companies, SEC-registered RIAs, and wirehouse-affiliated teams round out the landscape.
Portsmouth and the Seacoast area anchor the state's wealth management cluster. Bedford attracts larger advisory firms including Hampshire Family Office. Strong cross-border ties with Boston's financial ecosystem amplify the market's reach.
Hemenway Trust works with Boston-based law firm Hemenway & Barnes LLP, and Hampshire Family Office splits operations between Bedford and New York. This proximity gives New Hampshire offices access to institutional-grade deal flow and talent while retaining the state's tax and trust advantages.
Family Office Comparison at a Glance
The table below compares leading firms by type, assets under management (AUM), focus, and location. Offices appear sorted by AUM where available.
| Family Office | Type | AUM Estimate | Investment Focus | Key Services | Location |
|---|---|---|---|---|---|
| Hemenway Trust Company | MFO / Trust Co. | ~$8.6B | Investment mgmt, ESG/impact | Wealth mgmt, legal, oversight | NH |
| Lake Street Advisors | MFO | $3.1B RAUM | Modern Portfolio Theory | Financial planning, asset allocation | Portsmouth |
| Global Forest Partners | Institutional | $2.8B | Global timberland | Timber fund mgmt, forestry research | Lebanon |
| Charter Oak Capital Mgmt | RIA | $983M | Direct indexing, planning | Portfolio mgmt, financial planning | Portsmouth |
| Market Street Trust Co. | Shared FO | — | Multigenerational wealth | Lead advisor model, legacy planning | NH |
| Fiduciary Trust of NE | Trust Co. | — | Global multi-asset, NH trusts | Trust services, custody, DAF | New England |
| Kensington Investment Co. | SFO | — | Real estate, PE/VC | Real estate dev, direct investments | Kensington |
| Ballentine Partners | MFO | — | Diversified, values-driven | Investing, advisory, family well-being | New England |
| F.L.Putnam Investment Mgmt | MFO / Inv. Mgmt | — | Sustainable investing, CIO | Outsourced CIO, institutional consulting | NH (multi-office) |
| Hampshire Family Office | RIA | — | Private markets, alternatives | Personal CIO, advisory platform | Bedford / NYC |
| The Crosby Company of NH | SFO | — | Buyout, biotech/life science | Private investments | Salem |
| Aurelius Family Office | RIA | — | Generational wealth, planning | Total wealth mgmt, tax planning | NH |
Hemenway Trust Company and Lake Street Advisors stand apart on measurable AUM. For offices without disclosed figures, the focus area and service model become the primary comparison criteria. The range of office types reflects New Hampshire's blend of local roots and interstate reach.
Top Picks by Strategy
- Largest AUM: Hemenway Trust Company, with $8.6 billion in fiduciary responsibility and integrated legal support through Hemenway & Barnes LLP.
- Strongest MFO Platform: Lake Street Advisors, managing $3.1 billion RAUM for roughly 79 family clients from a fee-only, independent Portsmouth office.
- Best for Direct Investments: Kensington Investment Company, which owns and operates Grand Circle Corporation and manages over two million square feet of real estate.
- Top Trust Specialist: Fiduciary Trust of New England, the go-to for out-of-state families seeking New Hampshire trust domiciling, with a 98% average annual client retention rate over a decade.
- Leading Shared Family Office: Market Street Trust Company, a client-owned platform that grew from the Houghton family's SFO into a multigenerational shared model.
- Most Distinctive Alternative Focus: Global Forest Partners, deploying $2.8 billion into sustainably managed timberland from Lebanon, NH.
- Top for Private Market Access: Hampshire Family Office, an SEC-registered RIA bridging Bedford and New York to source hard-to-access alternative allocations.
Leading Offices in Detail
Hemenway Trust Company
Few New Hampshire firms combine legal expertise and capital management under one roof the way Hemenway Trust does. With $8.6 billion in fiduciary responsibility as of December 2024, the firm integrates portfolio oversight, wealth transfer planning, and family governance through its affiliate, law firm Hemenway & Barnes LLP.
Services extend to ESG and impact investing, household management, and bill-pay coordination. UHNW families with complex trust and estate structures benefit from having attorneys, portfolio managers, and tax professionals collaborate within a single platform. Hemenway's independence, with no proprietary products or funds, ensures that advice stays aligned with client interests.
Lake Street Advisors
Portsmouth-based Lake Street Advisors runs one of the state's most focused multi-family office models. The firm manages $3.1 billion in regulatory assets for about 79 high-wealth family clients, applying Modern Portfolio Theory to build broad allocations.
As an independent, fee-only adviser, Lake Street avoids the conflicts that come with commission-based product sales. Its concentrated client base means higher advisor-to-family ratios than most regional MFOs. Families seeking institutional-quality asset allocation without the overhead of a standalone office will find this model efficient and transparent.
Market Street Trust Company
Market Street Trust Company operates as a client-owned shared family office built for multigenerational planning. The Houghton family, founders of Corning Incorporated, created it in 1909 as their SFO. It has since opened its platform to multiple families.
Each client family works with a lead advisor who coordinates specialists in estate planning, portfolio strategy, and legacy planning. The client-owned structure aligns incentives with the families it serves, removing the profit motive that can drive product sales at other firms. Families with multi-decade planning horizons and complex estate needs will recognize the value of this model.
Kensington Investment Company (KIC)
KIC stands apart through its direct ownership of operating businesses. The Lewis family's SFO, headquartered in Kensington with offices in Boston and Park City, owns Grand Circle Corporation, a leader in international travel for Americans over 50.
KIC also manages over two million square feet of residential and commercial property in New England and Utah. Its real estate development arm pursues socially and environmentally responsible projects. The Lewis family channels returns into three foundations, including the Pinnacle Leadership Foundation and Lewis Family Foundation, which supports inner-city youth in Boston and young people in seacoast New Hampshire.
Fiduciary Trust of New England
Out-of-state families who want to domicile trusts in New Hampshire turn to Fiduciary Trust of New England first. The firm specializes in directed trusts, dynasty trusts, and tax-aware global multi-asset allocation.
One documented case involves a client placing pre-IPO stock in a New Hampshire trust to cut tax liability. The firm also operates a donor-advised fund program through Fiduciary Trust Charitable. With over 40 industry awards in five years, including Best Trustee/Fiduciary Services and Best Custodian, the platform has earned wide recognition. Officers average more than 20 years of industry experience.
Ballentine Partners
Ballentine Partners treats financial outcomes and family well-being as equal priorities. The independent MFO serves clients ranging from individuals with $4 million in liquid assets to multigenerational families holding over $1 billion.
Its approach spans multiple asset classes and geographies, guided by what the firm calls a "future-focused" method. Ballentine also runs programming on family dynamics, helping families reconcile financial abundance with the relationships and values that matter most. For families at an inflection point from a liquidity event, inheritance, or generational transition, this dual focus on money and meaning is distinctive.
F.L.Putnam Investment Management
F.L.Putnam is growing through acquisition, having purchased AOG Wealth Management and Darwin Trust Company in 2025–2026 to expand its East Coast footprint. The firm offers individual and institutional capital management with a dedicated sustainable investing approach.
Through its Atrato Consulting division, F.L.Putnam provides outsourced chief investment officer services tailored to private wealth offices that want institutional-grade portfolio oversight without building an in-house team. Families seeking an outsourced CIO partner with New Hampshire roots should evaluate this firm closely.
Hampshire Family Office
Hampshire Family Office sits at the intersection of New England wealth management and Manhattan deal flow, operating from both Bedford, NH, and New York City. The SEC-registered RIA serves as a personal chief investment officer, sourcing private market and co-investment opportunities that are typically inaccessible to individual families.
The firm's advisory platform is built for families who want active portfolio management modeled on how institutions allocate capital. Families with appetite for private equity, venture capital, and structured alternatives will find Hampshire's origination network relevant.
Trends Shaping the Granite State's Wealth Market
NH Trust Law as a National Magnet
New Hampshire's trust statutes rank among the most favorable in the country. Directed trusts allow families to separate investment and distribution duties. Dynasty trusts can last in perpetuity with no rule against perpetuities.
These provisions, combined with zero state income tax on trust income, attract families from California, New York, and other high-tax jurisdictions. Fiduciary Trust of New England has built its entire service model around this demand, reporting a 98% average annual client retention rate.
Direct Capital Deployment and Real Estate
Capital is flowing into direct ownership of companies and property within New Hampshire's SFO market. KIC's two-million-square-foot portfolio and its control of Grand Circle Corporation exemplify this model. Orbit Group pursues real estate development and runs an accelerator program from its New Hampshire base. The Crosby Company focuses on private buyouts in biotech and life science sectors from Salem.
ESG and Impact Investing
Several New Hampshire offices have moved beyond token ESG policies into dedicated impact mandates. Hemenway Trust offers ESG and impact investing as a core capability. KIC pursues socially responsible real estate development. F.L.Putnam maintains a formal sustainable investing approach. This cluster of impact-oriented firms gives local families strong options for values-aligned capital deployment.
Consolidation and Outsourced CIO Growth
F.L.Putnam's purchases of AOG Wealth Management and Darwin Trust Company signal a broader trend of mid-market consolidation in New England. Its Atrato Consulting division serves wealth platforms that prefer to outsource portfolio management rather than hire in-house teams. As operating costs for standalone offices rise, outsourced CIO models gain traction among smaller SFOs in the region.
How to Choose the Right Firm
NH trust law expertise should top any evaluation checklist. Not every office understands directed trusts, dynasty trust planning, or decanting statutes. Hemenway Trust Company and Fiduciary Trust of New England set the standard here. If another firm claims trust expertise, ask whether it has administered perpetual trusts or handled pre-IPO stock placements in NH vehicles.
The fiduciary question carries extra weight in this market. Independent RIAs and trust companies like Lake Street Advisors and Charter Oak Capital operate under a fiduciary standard, meaning they must act in the client's best interest. Wirehouse-affiliated teams offer deep resources but may carry product incentives. Ask each firm directly whether it operates as a fiduciary in all capacities.
Cross-border capability matters because many New Hampshire families maintain Boston-area business interests, real estate, or professional relationships. Assess whether the firm can coordinate multi-state tax planning and estate strategies. Hemenway Trust, with its Boston-based law affiliate, handles this natively.
Fee transparency separates the field. Charter Oak Capital charges a minimum quarterly fee of $1,250, making costs predictable. Lake Street Advisors operates fee-only. Compare these structures against percentage-of-AUM models, which can obscure total cost at higher asset levels. Match your wealth level to the right tier: Ballentine Partners accepts clients from $4 million, while dedicated trust companies and SFOs typically serve families above $25 million.
Which Family Office Fits Your Needs?
UHNW families holding $100 million or more and seeking full-service management should evaluate Hemenway Trust Company for its integrated legal, portfolio, and oversight platform. Market Street Trust Company offers a client-owned shared model that aligns incentives with the families it serves. Both excel at multigenerational complexity.
Business owners approaching a liquidity event face different priorities. Hampshire Family Office provides personal CIO services and private market access suited to post-sale wealth structuring. Ballentine Partners brings a holistic approach that addresses not just financial transition but family well-being during periods of change.
Next-generation inheritors focused on succession planning will benefit from Market Street Trust's lead advisor model, which coordinates long-term wealth transfer with estate specialists. Aurelius Family Office offers total wealth management with a generational focus for families in earlier stages of building their advisory structure.
Out-of-state families drawn to New Hampshire's trust advantages have a clear path through Fiduciary Trust of New England, which specializes in NH trust domiciling for clients nationwide. Families focused on direct ownership and real estate should look to Kensington Investment Company, whose active control of Grand Circle Corporation and two million square feet of property offers a rare hands-on model. Institutional allocators seeking niche exposures can access global timberland through Global Forest Partners in Lebanon or alternative strategies through Hampshire Family Office.
Methodology
This guide to family offices in New Hampshire draws on SEC filings, FINRA records, firm websites, and industry databases. AUM figures come from the most recent ADV filings and firm disclosures where available. Hemenway Trust Company's $8.6 billion figure reflects fiduciary responsibility as of December 31, 2024. Lake Street Advisors' $3.1 billion RAUM is reported as of December 31, 2023.
The selection covers offices headquartered in New Hampshire or actively serving New Hampshire families. These include SFOs, MFOs, shared family offices, trust companies, RIAs, and wirehouse-affiliated wealth management teams. Each firm was evaluated on disclosed capital managed, service breadth, focus area, and relevance to UHNW families in the state. Data is current as of early 2026, though firm assets and service offerings may change. Families should verify all figures directly with each office before making engagement decisions.
