# Donald W. Nicholson & Associates Ltd

> Donald W. Nicholson & Associates Ltd is an SEC-registered investment advisory firm in Wilmington, DE, registered since 1999, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated April 1, 2026.

- CRD: 107054
- Filed as: DONALD W. NICHOLSON & ASSOCIATES LTD
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Wilmington, DE
- Filing period: October 2026
- Form ADV filing dated: April 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107054
- AdvisorCensus page: https://advisorcensus.com/firm/donald-w-nicholson-and-associates-ltd-wilmington-de-107054

## Quick answers

**How is Donald W. Nicholson & Associates Ltd compensated?**
On its Form ADV (Item 5.E, October 2026), Donald W. Nicholson & Associates Ltd reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**Where is Donald W. Nicholson & Associates Ltd located?**
Donald W. Nicholson & Associates Ltd's principal office is in Wilmington, DE, according to its Form ADV.

**Is Donald W. Nicholson & Associates Ltd registered with the SEC or a state?**
Donald W. Nicholson & Associates Ltd is an SEC-registered investment advisory firm, registered since 1999. Status as filed: Approved. CRD 107054.

**How much does Donald W. Nicholson & Associates Ltd manage?**
Donald W. Nicholson & Associates Ltd reports $171,236,167 in regulatory assets under management in its Form ADV filing dated April 1, 2026 (68% discretionary).

**How have Donald W. Nicholson & Associates Ltd's assets and staff changed since 2021?**
In the Form ADV data for Donald W. Nicholson & Associates Ltd: Regulatory assets under management: $197,116,978 in the October 2021 data and $171,236,167 in the October 2026 data, down 13%. Total employees: 4 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Donald W. Nicholson & Associates Ltd serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (106); high net worth individuals (50).

**Which custodians does Donald W. Nicholson & Associates Ltd use?**
Donald W. Nicholson & Associates Ltd's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Donald W. Nicholson & Associates Ltd report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107054

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $171,236,167
- Discretionary: $115,929,158
- Non-discretionary: $55,307,009

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 106 | $42,230,026 |
| High net worth individuals | 50 | $127,267,084 |
| Charitable organizations | Fewer than 5 | $1,739,057 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Publication of periodicals or newsletters

### Firm details
- Registered since: 1999 (26 years)
- Employees: 5 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: DE, FL, LA, NJ, PA, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- nicholson-associates.com
- Facebook @NICHOLSONWEALTHMGT
- LinkedIn @DONALD-W-NICHOLSON-&-ASSOCIATES-LTD-
- X @DONALDWNICHOLS2

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $197,116,978 | 4 | April 1, 2021 |
| October 2022 | $209,008,848 | 6 | April 4, 2022 |
| October 2023 | $164,947,386 | 5 | April 4, 2023 |
| October 2024 | $178,257,195 | 5 | April 8, 2024 |
| October 2025 | $171,343,129 | 6 | May 5, 2025 |
| October 2026 | $171,236,167 | 5 | April 1, 2026 |

Regulatory assets under management: $197,116,978 in the October 2021 data and $171,236,167 in the October 2026 data, down 13%.
Total employees: 4 in October 2021 and 5 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Donald W. Nicholson & Associates Ltd (CRD 107054): Form ADV filing data as of October 2026.