Clients
Nicola Wealth Management serves 6,718 clients, 2,378 of them high-net-worth individuals. The average client has about $1.6 million with the firm, and high-net-worth clients hold 82% of its $11 billion in assets.
- Individuals3,569 clients10%
- High-net-worth individuals2,378 clients82%
- Charitable organizations650 clients4%
- Corporations and other businesses121 clients4%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 3,569 | $1,085,768,766 | 9.8% | $304K |
| High-net-worth individuals | 2,378 | $9,071,261,086 | 82.1% | $3.81M |
| Charitable organizations | 650 | $479,539,848 | 4.3% | $738K |
| Corporations and other businesses | 121 | $406,125,101 | 3.7% | $3.36M |
| Total | 6,718 | $11,042,694,801 | 100% | $1.64M |
- Clients
- 3,569
- Regulatory AUM
- $1,085,768,766
- Share
- 9.8%
- Avg. per client
- $304K
- Clients
- 2,378
- Regulatory AUM
- $9,071,261,086
- Share
- 82.1%
- Avg. per client
- $3.81M
- Clients
- 650
- Regulatory AUM
- $479,539,848
- Share
- 4.3%
- Avg. per client
- $738K
- Clients
- 121
- Regulatory AUM
- $406,125,101
- Share
- 3.7%
- Avg. per client
- $3.36M
Total
- Clients
- 6,718
- Regulatory AUM
- $11,042,694,801
- Share
- 100%
- Avg. per client
- $1.64M
What it does
Nicola Wealth Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles and other activities. It is paid through a percentage of assets, fixed fees and performance-based fees.
Nicola Wealth Management provided financial planning to 6,718 clients last fiscal year and advises no private funds.
98.1% of assets ($10.83B across 27,529 accounts) are managed with discretion; $211.0M across 224 accounts are not. 99% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks2%
- Funds93%
- Pooled vehicles91%
- Registered funds2%
- Cash5%
Custodians
Nicola Wealth Management’s client accounts are held mainly at National Bank of Canada, with 99% of managed assets, and Pershing, with 1%. Nicola Wealth Management does not have custody of client assets.
- National Bank of CanadaNational Bank of Canada · Toronto · $10.94B99%
- PershingPershing Advisor Solutions LLC · Jersey City, NJ · $98.4M1%
Ownership and leadership
NWM Holdings LTD. owns 50% to 75% of Nicola Wealth Management, and Christopher Nicola is its CEO.
- Owns 50% to 75% of Nicola Wealth Management LTD.
NWM Holdings LTD.
Control person · since November 2020
- Owns 50% to 75% of NWM Holdings LTD.
Claire Nicola Holdings LTD.
Control person · since November 2020
- Owns 75% or more of Claire Nicola Holdings LTD.
Nicola 2018 Family Trust
Control person · since July 2018
Evelyn Nicola
Trustee · since July 2018
John Nicola
Trustee · since July 2018
Leadership
- Christopher NicolaChief Executive Officer and Director
- David SungExecutive Vice Chair of the Board and President of Institutional
- David PosterChief Financial Officer and Director
- Abigail Coman-WalkerChief Operating Officer
- Richard ChenChief Compliance Officer
- Jamie DuncanDirector
- Paul HollandsDirector
- William JohnChief Investment Officer
- John NicolaFounder, Executive Chair and Wealth Advisor
- Carrie RussellDirector
- Thomas ShepanskyDirector
- Anne ThomasDirector
Staff
- 531 employees
- 217 in advisory functions
- 5 state-registered reps
- 102 insurance agents
- 7 soliciting firms
Reported holdings
Nicola Wealth Management’s reported 13F holdings total $868.4M across 61 positions, and the ten largest make up 30.3% of it.
- $868.4M
- Reported 13F value
- 61
- Positions
- 30.3%
- In the 10 largest
- +4.2%
- Value vs. prior quarter
- Waste Connections Inc.4.7%
- Pembina Pipeline Corp.3.5%
- Nvidia Corporation3.1%
- Microsoft Corp.2.9%
- Taiwan Semiconductor Manufac · Sponsored ADS2.9%
- Visa Inc. · Com CL A2.8%
- Brookfield Infrastructure PA · LP Int Unit2.8%
- Brookfield Asset Managmt Ltd · CL A Lmt Vtg Shs2.7%
- Toronto Dominion BK Ont2.6%
- Union Pac Corp.2.5%
Together, the ten largest are 30.3% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $868.4M is not its $11.04B in regulatory assets and does not represent any individual client's portfolio.
Fees
Nicola Wealth Management is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees.
Nicola Wealth Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Nicola Wealth Management has 6 offices, with 1 listed address with no US state reported.
Registration details
- Legal name
- Nicola Wealth Management LTD.
- Headquarters
- 1508 West Broadway, 5th Floor, Vancouver, Canada V6J1W8
- Phone
- 604-739-6450
- Website
- www.nicolawealth.com
- SEC file
- 801-119288
- Structure
- corporation organized in Canada
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Nicola Wealth Management have?
Nicola Wealth Management has 6,718 clients and manages $11 billion for them, as of September 2026. They include 3,569 other individuals, 2,378 high-net-worth individuals and 650 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 9 September 2026
What services does Nicola Wealth Management offer?
Nicola Wealth Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles and other activities.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Nicola Wealth Management use?
Nicola Wealth Management’s separately managed account assets are held at National Bank of Canada (Toronto), with $10,944,314,659 and Pershing Advisor Solutions LLC (Jersey City, NJ), with $98,380,142. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 9 September 2026
How many financial advisors does Nicola Wealth Management have?
Nicola Wealth Management has 5 investment adviser representatives registered with state securities authorities, out of 531 employees, and 217 perform investment advisory functions. 0 are registered representatives of a broker-dealer and 102 are 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 Nicola Wealth Management invest in?
At the end of its last fiscal year, Nicola Wealth Management’s separately managed accounts held 91% pooled vehicles (private funds and similar), 5% cash and equivalents, 2% exchange-traded equities and 2% registered funds (mutual funds, ETFs, BDCs). It advises no private funds of its own.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Nicola Wealth Management?
Nicola Wealth Management’s direct owner is NWM Holdings LTD. (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 9 September 2026
How does Nicola Wealth Management get paid?
Nicola Wealth Management is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file