Payne & Mencias Named Indiana’s No.1 Wealth Team Again

Payne & Mencias Group, part of Merrill Lynch Wealth Management with advisors based in Jasper and Indianapolis, was named the No. 1 Best-in-State Wealth Management Team for Indiana by Forbes on January 9, 2026. The distinction marks the fourth consecutive year the team has topped the state list and reflects sustained growth and investment in the Jasper office.

Forbes’ ranking uses a mix of measurable criteria including assets under management, revenue produced, and quality of practice. The repeat recognition signals that the team has maintained strong money-management metrics and client service standards compared with peers across Indiana. For local clients in Dubois County, the award bolsters the visibility and credibility of a hometown advisory presence tied to a national broker-dealer platform.

The team’s recent expansion in Jasper, with new advisors added to the office, reinforces the local footprint. Those hires help translate statewide recognition into on-the-ground capacity for face-to-face planning, retirement advice, and wealth-transfer work for families and small business owners in the county. More advisers in town can also reduce travel time for clients and increase the likelihood that wealth stays advised locally rather than being managed out of larger metro centers.

Market and community implications are practical. High rankings often attract new clients and assets, which can lead to more jobs in the local financial-services sector and increased use of professional services such as legal and tax advisors. For municipal leaders, a deeper local wealth-management industry can modestly expand the tax base and philanthropic giving over time. For households, the presence of a nationally recognized team in Jasper means easier access to comprehensive planning, but also a prompt to compare fees, services, and fiduciary responsibilities across advisers.

This recognition comes amid longer-term trends in wealth management: consolidation under large firms, competition for regional hubs, and growing demand for retirement income planning as older residents age. For Dubois County, keeping a high-performing team locally aligns with those trends and offers a potential hedge against asset outflows that can hollow out local economic activity.

The takeaway? Treat this as both a credibility signal and a reminder to do the basics: review your financial plan, ask about fees and service models, and consider meeting locally to see whether the team’s expanded Jasper presence fits your goals. Our two cents? Even if you stick with a longtime adviser, shop around periodically and make sure your strategy keeps pace with market changes and local life plans.