{
  "crd_number": 109401,
  "slug": "nicollet-investment-management-inc-minneapolis-mn-109401",
  "primary_business_name": "NICOLLET INVESTMENT MANAGEMENT, INC.",
  "legal_name": "NICOLLET INVESTMENT MANAGEMENT, INC.",
  "dbas": [
    "ALLA INVESTMENT MANAGEMENT, INC."
  ],
  "city": "Minneapolis",
  "state": "MN",
  "country": "United States",
  "cbsa_code": "33460",
  "metro": {
    "cbsa_code": "33460",
    "common_name": "Minneapolis",
    "msa_name": "Minneapolis-St. Paul-Bloomington, MN-WI",
    "path": "/advisors/mn/minneapolis"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2000-02-22",
  "years_registered": 26,
  "period": "2026-10-01",
  "filing_date": "2026-10-01",
  "carried_forward": false,
  "raum_total": 557410793.0,
  "raum_discretionary": 557410793.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 9,
  "advisory_employees": 6,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 626163.0,
      "count": 2,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 44879985.0,
      "count": 126
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": null
    },
    "state_municipal": {
      "raum": 0.0,
      "count": null
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": null
    },
    "investment_companies": {
      "raum": 0.0,
      "count": null
    },
    "pension_profit_sharing": {
      "raum": 0.0,
      "count": null
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": null
    },
    "high_net_worth_individuals": {
      "raum": 508232483.0,
      "count": 171
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": null
    },
    "corporations_other_businesses": {
      "raum": 3672162.0,
      "count": 2,
      "fewer_than_5": true
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": null
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": null
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "educational_seminars",
    "financial_planning",
    "pension_consulting",
    "periodicals_newsletters",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AZ",
    "FL",
    "IA",
    "MD",
    "MN",
    "ND",
    "SD",
    "TX",
    "VA",
    "WA",
    "WI"
  ],
  "websites": [
    "https://nicolletinvest.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/109401",
  "city_as_filed": "MINNEAPOLIS",
  "url": "https://advisorcensus.com/firm/nicollet-investment-management-inc-minneapolis-mn-109401",
  "display_name": "Nicollet Investment Management, Inc.",
  "summary": "Nicollet Investment Management, Inc. is an SEC-registered investment advisory firm in Minneapolis, MN, registered since 2000, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated October 1, 2026.",
  "citation": "AdvisorCensus. Nicollet Investment Management, Inc. (CRD 109401): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Pension consulting services",
    "Selection of other advisers (including private fund managers)",
    "Publication of periodicals or newsletters",
    "Educational seminars/workshops"
  ],
  "quick_answers": [
    {
      "q": "How is Nicollet Investment Management, Inc. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Nicollet Investment Management, Inc. reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees)."
    },
    {
      "q": "Where is Nicollet Investment Management, Inc. located?",
      "a": "Nicollet Investment Management, Inc.'s principal office is in Minneapolis, MN, according to its Form ADV."
    },
    {
      "q": "Is Nicollet Investment Management, Inc. registered with the SEC or a state?",
      "a": "Nicollet Investment Management, Inc. is an SEC-registered investment advisory firm, registered since 2000. Status as filed: Approved. CRD 109401."
    },
    {
      "q": "How much does Nicollet Investment Management, Inc. manage?",
      "a": "Nicollet Investment Management, Inc. reports $557,410,793 in regulatory assets under management in its Form ADV filing dated October 1, 2026 (100% discretionary)."
    },
    {
      "q": "How have Nicollet Investment Management, Inc.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Nicollet Investment Management, Inc.: Regulatory assets under management: $424,550,310 in the October 2021 data and $557,410,793 in the October 2026 data, up 31%. Total employees: 8 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Nicollet Investment Management, Inc. serve?",
      "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (171); individuals (other than high net worth individuals) (126); charitable organizations (2)."
    },
    {
      "q": "Which custodians does Nicollet Investment Management, Inc. use?",
      "a": "Nicollet Investment Management, Inc.'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."
    },
    {
      "q": "Does Nicollet Investment Management, Inc. report any disciplinary disclosures?",
      "a": "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/109401"
    },
    {
      "q": "Does Nicollet Investment Management, Inc. state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 31, 2026 says: \"Nicollet generally requires a minimum asset relationship of $250,000 for its Investment Management Services. Nicollet, from time to time, and based on its sole discretion, may accept clients with less than that amount.\""
    },
    {
      "q": "What changed in Nicollet Investment Management, Inc.'s recent Form ADV filings?",
      "a": "In the June 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 424550310.0,
      "total_employees": 8,
      "filing_date": "2021-08-19"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 402692879.0,
      "total_employees": 10,
      "filing_date": "2022-08-04"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 430713545.0,
      "total_employees": 8,
      "filing_date": "2023-08-09"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 477042256.0,
      "total_employees": 9,
      "filing_date": "2024-06-26"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 532509760.0,
      "total_employees": 8,
      "filing_date": "2025-04-16"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 557410793.0,
      "total_employees": 9,
      "filing_date": "2026-10-01"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-06-01",
      "period_label": "June 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 7 to 6.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 31, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$250,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $250,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "Nicollet generally requires a minimum asset relationship of $250,000 for its Investment Management Services. Nicollet, from time to time, and based on its sole discretion, may accept clients with less than that amount."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 250000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "Nicollet generally requires a minimum asset relationship of $250,000 for its Investment Management Services. Nicollet, from time to time, and based on its sole discretion, may accept clients with less than that amount."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/nicollet-investment-management-inc-minneapolis-mn-109401.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 126,
      "fewer_than_5": false,
      "raum": 44879985.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 171,
      "fewer_than_5": false,
      "raum": 508232483.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 2,
      "fewer_than_5": true,
      "raum": 626163.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": null,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 2,
      "fewer_than_5": true,
      "raum": 3672162.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/109401",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}