Clients
Nisa Investment Advisors serves 440 clients, 255 of them pension and profit-sharing plans. The average client has about $782 million with the firm, and high-net-worth clients hold 0% of its $343.9 billion in assets.
- Pooled investment vehicles14 clients3%
- Pension and profit-sharing plans255 clients52%
- Charitable organizations18 clients3%
- State or municipal government entities22 clients31%
- Other89 clients9%
- OtherHigh-net-worth individuals, Insurance companies, Corporations and other businesses2%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 13 | $382,239,972 | 0.1% | $29.4M |
| Pooled investment vehicles | 14 | $11,531,113,568 | 3.4% | $823.7M |
| Pension and profit-sharing plans | 255 | $177,337,485,138 | 51.6% | $695.4M |
| Charitable organizations | 18 | $10,144,289,524 | 2.9% | $563.6M |
| State or municipal government entities | 22 | $107,591,419,799 | 31.3% | $4.89B |
| Insurance companies | 16 | $2,401,226,104 | 0.7% | $150.1M |
| Corporations and other businesses | 13 | $4,649,735,217 | 1.4% | $357.7M |
| Other | 89 | $29,852,194,049 | 8.7% | $335.4M |
| Total | 440 | $343,889,703,371 | 100% | $781.6M |
- Clients
- 13
- Regulatory AUM
- $382,239,972
- Share
- 0.1%
- Avg. per client
- $29.4M
- Clients
- 14
- Regulatory AUM
- $11,531,113,568
- Share
- 3.4%
- Avg. per client
- $823.7M
- Clients
- 255
- Regulatory AUM
- $177,337,485,138
- Share
- 51.6%
- Avg. per client
- $695.4M
- Clients
- 18
- Regulatory AUM
- $10,144,289,524
- Share
- 2.9%
- Avg. per client
- $563.6M
- Clients
- 22
- Regulatory AUM
- $107,591,419,799
- Share
- 31.3%
- Avg. per client
- $4.89B
- Clients
- 16
- Regulatory AUM
- $2,401,226,104
- Share
- 0.7%
- Avg. per client
- $150.1M
- Clients
- 13
- Regulatory AUM
- $4,649,735,217
- Share
- 1.4%
- Avg. per client
- $357.7M
- Clients
- 89
- Regulatory AUM
- $29,852,194,049
- Share
- 8.7%
- Avg. per client
- $335.4M
Total
- Clients
- 440
- Regulatory AUM
- $343,889,703,371
- Share
- 100%
- Avg. per client
- $781.6M
What it does
Nisa Investment Advisors provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions and other activities. It is paid through a percentage of assets, fixed fees, performance-based fees and other arrangements.
Nisa Investment Advisors provided financial planning to 0 clients last fiscal year and advises 3 private funds.
97.9% of assets ($336.69B across 436 accounts) are managed with discretion; $7.20B across 4 accounts are not. $78.3M sits in a wrap fee program the firm both sponsors and manages. 4% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks6%
- Funds3%
- Bonds86%
- U.S. government and agency bonds63%
- Investment grade corporate bonds21%
- Sovereign bonds2%
- Cash4%
- Other1%
- Derivatives1%
Custodians
Nisa Investment Advisors’ client accounts are held mainly at Northern Trust, with 24% of managed assets, and The Bank of New York Mellon, with 21%. Nisa Investment Advisors has custody of $309.6M for 13 clients.
- Northern TrustNorthern Trust Corporation · Chicago, IL · $81.26B24%
- State Street Bank and TrustState Street Bank and Trust Company · Quincy, MA · $66.75B19%
- The Bank of New York MellonThe Bank of New York Mellon · Everett, MA · $72.21B21%
- J.P. MorganJP Morgan Chase Bank, N.A. · New York, NY · $33.62B10%
- All other custodians$90.06B26%
Ownership and leadership
Nisa, LLC owns 75% or more of Nisa Investment Advisors, and David Eichhorn is its CEO.
- Owns 75% or more of Nisa Investment Advisors, LLC
Nisa, LLC
Control person · since April 2016
David Eichhorn
Controlling manager · Control person · since January 2019
Kenneth Lester
Controlling manager · Control person · since January 2019
Anthony Pope
Controlling manager · Control person · since January 2019
Leadership
- David EichhornChief Executive Officer & Head of Investment Strategies
- Matthew ByronChief Operating Officer
- Richard DolsonChief Compliance Officer
- Mark FolkinsChief Administrative Officer
- Cheryl HansonManaging Director, Client Services
- Kenneth LesterManaging Director, Portfolio Management
- Anthony PopeManaging Director, Portfolio Management
- Richard RatkowskiDirector, Investment Strategies
- Bella SanevichManaging Director, Corporate Governance and Legal
Staff
- 417 employees
- 217 in advisory functions
- 75 state-registered reps
Reported holdings
Nisa Investment Advisors’ reported 13F holdings total $32.05B across 3,093 positions, and the ten largest make up 60.3% of it.
- $32.05B
- Reported 13F value
- 3,093
- Positions
- 60.3%
- In the 10 largest
- +18.5%
- Value vs. prior quarter
- iShares Core S&P 500 ETF42.8%
- Nvidia Corp.3.7%
- Apple Inc.3.5%
- Microsoft Corp.2.3%
- Alphabet Inc.1.8%
- Broadcom Inc.1.5%
- Amazon.com Inc.1.4%
- Alphabet Inc.1.4%
- Meta Platforms Inc.1.0%
- JPMORGAN Chase & CO0.9%
Together, the ten largest are 60.3% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $32.05B is not its $343.89B in regulatory assets and does not represent any individual client's portfolio.
Fees
Nisa Investment Advisors is paid through a percentage of assets under management, fixed fees (other than subscription fees), performance-based fees and other.
Nisa Investment Advisors’ fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Nisa Investment Advisors has 0 offices, with 1 listed address in 1 state.
Missouri · 1 listed address
- 7676 Forsyth BLVD Suite 1100, ST. LouisHQ
Registration details
- Legal name
- Nisa Investment Advisors, LLC
- Headquarters
- 7676 Forsyth BLVD Suite 1100, ST. Louis, MO 63105-4141
- Phone
- 314-721-1900
- Website
- www.nisa.com
- SEC file
- 801-45153
- Structure
- Kansas LLC
- 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 Nisa Investment Advisors have?
Nisa Investment Advisors has 440 clients and manages $343.9 billion for them, as of March 2026. They include 255 pension and profit-sharing plans, 89 other clients and 22 state or municipal government entities.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 26 March 2026
What services does Nisa Investment Advisors offer?
Nisa Investment Advisors provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions and other activities.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Nisa Investment Advisors use?
Nisa Investment Advisors’ separately managed account assets are held at Northern Trust Corporation (Chicago, IL), with $81,264,976,606, The Bank of New York Mellon (Everett, MA), with $72,205,527,428, State Street Bank and Trust Company (Quincy, MA), with $66,745,152,634 and JP Morgan Chase Bank, N.A. (New York, NY), with $33,615,756,953. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 26 March 2026
How many financial advisors does Nisa Investment Advisors have?
Nisa Investment Advisors has 75 investment adviser representatives registered with state securities authorities, out of 417 employees, and 217 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 Nisa Investment Advisors invest in?
At the end of its last fiscal year, Nisa Investment Advisors’ separately managed accounts held 63% U.S. government and agency bonds, 21% investment grade corporate bonds, 6% exchange-traded equities, 4% cash and equivalents, 3% registered funds (mutual funds, ETFs, BDCs), 2% sovereign bonds and 1% derivatives. It advises 3 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Nisa Investment Advisors?
Nisa Investment Advisors’ direct owner is Nisa, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 26 March 2026
How does Nisa Investment Advisors get paid?
Nisa Investment Advisors is paid through a percentage of assets under management, fixed fees, performance-based fees and other arrangements. 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