Donald W. Nicholson & Associates provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and publishing newsletters. Financial planning was provided to 101–250 clients last fiscal year.
Donald W. Nicholson & Associates reports 156 clients. They include 106 individual clients and 50 high-net-worth individuals. Of its assets, 67.7% ($116M across 217 accounts) are managed with discretion; $55.3M across 137 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 68% | 25% |
| High-net-worth individuals | 32% | 74% |
| Charitable organizations | Fewer than 5 | 1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 106 | $42.2M | 24.7% | $398K |
| High-net-worth individuals | 50 | $127M | 74.3% | $2.55M |
| Charitable organizations | Fewer than 5 | $1.74M | 1.0% | — |
| Total | 156 | $171M | 100% | — |
- Clients
- 106
- Regulatory AUM
- $42.2M
- AUM share
- 24.7%
- Avg. per client
- $398K
- Clients
- 50
- Regulatory AUM
- $127M
- AUM share
- 74.3%
- Avg. per client
- $2.55M
- Clients
- Fewer than 5
- Regulatory AUM
- $1.74M
- AUM share
- 1.0%
- Avg. per client
- —
Total
- Clients
- 156
- Regulatory AUM
- $171M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
Donald W. Nicholson & Associates charges 0.60%–1.25% a year for its Asset Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$500K | 1.25% |
| $500K–$2M | 1.00% |
| $2M–$4M | 0.80% |
| $4M and above | 0.60% |
Fee details and sources
Other fees
- Financial planning services
- Comprehensive plans are quoted in advance at up to $300 an hour or as a fixed fee or retainer not to exceed $25,000; limited plans are billed on completion at up to $300 an hour or a fixed fee.
Donald Nicholson owns 75% or more of Donald W. Nicholson & Associates. The leadership team of Donald W. Nicholson & Associates includes President Donald Nicholson and Chief Compliance Officer Donald Nicholson. It has 5 employees, 4 of them in advisory roles.
Leadership
- Donald NicholsonPresident/Director
- Donald NicholsonChief Compliance Officer
- Mary NicholsonSecretary/Treasurer/Director
Investment adviser representatives
3 representatives listed in the SEC register as of 9 October 2026.
Staff
- 5 employees
- 4 in advisory functions
- 3 state-registered reps
- Owns 75% or more of Donald W. Nicholson & Associates LTD
Donald Nicholson
Control person · since November 1987
Donald W. Nicholson & Associates’ regulatory assets fell from $197M (April 2021) to $171M (April 2026); clients were 156 in both filings and employees rose from 4 to 5.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $171M | 156 | 5 | 1 |
| May 2025 | $171M | 172 | 6 | 2 |
| April 2024 | $178M | 143 | 5 | 2 |
| April 2023 | $165M | 165 | 5 | 2 |
| April 2022 | $209M | 258 | 6 | 1 |
| April 2021 | $197M | 163 | 4 | 1 |
Besides its headquarters, Donald W. Nicholson & Associates has 0 offices, with 1 listed address in Delaware.
Delaware · 1 listed address
- 1403 Silverside RD, Ste B, WilmingtonHQ
Contact and registration details
- Legal name
- Donald W. Nicholson & Associates LTD
- Headquarters
- 1403 Silverside RD, Ste B, Wilmington, DE 19810
- Website
- nicholson-associates.com
- Phone
- 302-529-1500
- SEC file
- 801-56986
- Structure
- Delaware corporation
- Fiscal year end
- December
Donald W. Nicholson & Associates uses Charles Schwab ($171M) as custodian for its separately managed accounts. Donald W. Nicholson & Associates does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $171M100%
At year end, Donald W. Nicholson & Associates’ separately managed accounts were mostly in funds (81%).
What the accounts hold
- Stocks8%
- Funds81%
- Registered funds80%
- Pooled vehicles1%
- Cash8%
- Other3%
- Cds and variable annuities; small amounts of investment grade corporate bonds. u.s. government/agency bonds; non-exchange traded equities;us state and local bonds.3%
How many clients does Donald W. Nicholson & Associates have?
Donald W. Nicholson & Associates has 156 clients and manages $171 million for them, as of April 2026. They include 106 individual clients and 50 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 1 April 2026
What services does Donald W. Nicholson & Associates offer?
Donald W. Nicholson & Associates provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and publishing newsletters.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Donald W. Nicholson & Associates charge?
Donald W. Nicholson & Associates charges 0.60%–1.25% a year for its Asset Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
Which custodians does Donald W. Nicholson & Associates use?
Donald W. Nicholson & Associates’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $171M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 1 April 2026
How many financial advisors does Donald W. Nicholson & Associates have?
Donald W. Nicholson & Associates has 3 investment adviser representatives registered with state securities authorities, out of 5 employees, and 4 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Donald W. Nicholson & Associates invest in?
At the end of its last fiscal year, Donald W. Nicholson & Associates’ separately managed accounts held 80% registered funds (mutual funds, ETFs, BDCs), 8% exchange-traded equities, 8% cash and equivalents, 3% other and 1% pooled vehicles (private funds and similar). The 3% other category is described as: CDS and Variable Annuities; Small Amounts of Investment Grade Corporate Bonds. U.S. Government/Agency Bonds; Non-Exchange Traded Equities;us State and Local Bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Donald W. Nicholson & Associates?
Donald W. Nicholson & Associates’ direct owner is Donald Nicholson (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 1 April 2026
How does Donald W. Nicholson & Associates get paid?
Donald W. Nicholson & Associates is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Donald W. Nicholson & Associates?
Donald W. Nicholson & Associates’ main office is at 1403 Silverside RD, Ste B, Wilmington, DE 19810. Its phone number is 302-529-1500. Its website is nicholson-associates.com.