Nichols Investment Management

The firm provides discretionary investment management and related portfolio and equity selection services to individuals, high-net-worth clients, trusts, estates, charitable organizations and business entities. It operates as a single-advisor practice and is not currently accepting new clients.

The firm’s investment approach emphasizes a small‑cap value strategy that focuses on micro‑cap and small‑cap companies, employing fundamental, technical and cyclical analysis and a concentrated, long‑term buy‑and‑hold orientation with an average holding period of more than five years. For roughly one in ten clients with income needs the firm recommends more dividend‑paying and larger‑cap stocks, and it has recently increased large‑cap exposure where it perceives relative value.

Distinctive features include the firm’s past regulatory disclosure event: a consent order arising from purchases and concentrated holdings in thinly traded over‑the‑counter securities that led to a temporary suspension, repayment to clients and a series of remedial compliance steps (including additional reporting and testing requirements). The firm also works with charitable organization clients, a client type that is relatively uncommon among independent advisers of its size.