Nichols & Pratt Advisers LLP (Boston)

Name: Nichols & Pratt Advisers LLP
Address: 50 Congress Street, Suite 832, Boston, MA, 02109 4002
Telephone: 617-523-6800

Nichols & Pratt Advisers LLP is a large advisory firm based in Boston. It manages $1.61 billion of regulatory assets for 717 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Massachusetts, New Hampshire, Texas, and Vermont.

Nichols & Pratt Advisers provides portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Nichols & Pratt Advisers: assets under management

The assets under management (AUM) of Nichols & Pratt Advisers LLP is $1.61 billion. The firm's AUM has grown by 2% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.36 billion in discretionary accounts and $244.57 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.31 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.91 million.

Nichols & Pratt Advisers has custody of $1.32 billion in cash and securities for 113 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 72% of the total AUM. The second-largest asset type is government bonds, which make up 24% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Nichols & Pratt Advisers LLP for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Nichols & Pratt Advisers serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Nichols & Pratt Advisers is high net worth individuals with 93 clients and $1.39 billion of assets under management. Among the 8 most similar advisory firms, Nichols & Pratt Advisers has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.41 billion for 121 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Nichols & Pratt Advisers doesn't advise any private funds.

Careers at Nichols & Pratt Advisers LLP

The company employs 25 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Harold Irving Pratt	Partner	1 Aug 1994	Other	4356257
Leonard Joseph Patenaude	Partner	1 Aug 1994	Other	4356327
James Richard Nichols	Partner	1 Aug 1994	Other	4348153
James R Nichols	Partner	1 Aug 1994	Other	4348153
Richard Killian Nichols	Partner	1 Jan 1997	Other	4356261
Thomas Ewing Bator	Partner	1 Jan 1997	Other	4356322
John Kingston Herbert	Partner	1 Jan 2001	Other	4356192
Patricia Debenedictis Popov	Partner	1 Jan 2002	Other	4519848
Patricia D. Popov	Partner	1 Jan 2002	Other	4519848
Kimberly Hazard Latifi	Chief compliance officer/partner	1 Jan 2003	Other	4650218

Based in Boston

The principal office where Nichols & Pratt Advisers LLP performs its advisory services is located at 50 Congress Street, Suite 832, Boston, MA 02109 4002, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 617-523-6800 or by fax 617-523-8949. The normal business hours are 9-5 on Monday - Friday. You can find more information about the New York firm at nichols-pratt.com.