Nicola Wealth Management Ltd.
- Regulatory AUM
- $11.0B
- Discretionary
- $10.8B
- Clients
- 6,718
- Avg AUM / client
- $1.6M
- Accounts
- 27,753
- Employees
- 531
AUM over time
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 3,569 | $1.1B | 9.83% |
| High net worth individuals | 2,378 | $9.1B | 82.1% |
| Charitable organizations | 650 | $480M | 4.34% |
| Corporations and other businesses | 121 | $406M | 3.68% |
People (16)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Duncan, Jamie, Susan | Chief Operations Officer And Director | Dec 2006 (20y) | Less than 5% | |
| Nicola, Evelyn, Claire | Trustee | Jul 2018 (8y) | GP / trustee / elected manager of Nicola 2018 Family Trust (indirect) | |
| Nicola, John, Michael | Chairman, Ceo And Co Chief Investment Officer | Jul 2018 (8y) | Less than 5% | |
| Chen, Richard, Chuen | Chief Compliance Officer | Jul 2021 (5y) | Less than 5% | |
| Shepansky, Thomas, William | Director | Jan 2023 (4y) | Less than 5% | |
| Thomas, Anne, Marie | Director | Jan 2023 (4y) | Less than 5% | |
| Russell, Carrie, Elizabeth | Director | Apr 2023 (3y) | Less than 5% | |
| Flockton, Vanessa | President, Private Wealth And Director | Sep 2024 (2y) | Less than 5% | |
| Nicola, Christopher, Michael | President And Director | Sep 2024 (2y) | Less than 5% | |
| Patel, Bijal, Arvind | Co Chief Investment Officer And Director | Sep 2024 (2y) | Less than 5% | |
| Sung, David, Bruce | Executive Vice Chair Of The Board And President Of Institutional | Sep 2024 (2y) | Less than 5% | |
| Hung Kwan Tony Lee | Registered representative | CFA | Sep 2020 (6y) | |
| Bradley Coutts | Registered representative | Jan 2021 (6y) | ||
| John Michael Nicola | Registered representative | Jan 2021 (6y) | ||
| Seyed Ahmad Soleiman Panah | Registered representative | Jan 2021 (6y) | ||
| Ehsan Ansari Astaneh | Registered representative | Apr 2024 (2y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Nwm Holdings Ltd. | Shareholder | Nov 2020 | A | 50% – 75% |
| Nicola 2018 Family Trust | Shareholder | Jul 2018 | B | ≈ 18.75% – 56.25% via Claire Nicola Holdings Ltd. |
| Claire Nicola Holdings Ltd. | Shareholder | Nov 2020 | B | ≈ 25% – 56.25% via Nwm Holdings Ltd. |
Undisclosed: 0% – 50% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Nicola 2018 Family Trust: 75% – 100% of Claire Nicola Holdings Ltd. × 50% – 75% of Nwm Holdings Ltd. × 50% – 75% direct ≈ 18.75% – 56.25% of the firm
- Claire Nicola Holdings Ltd.: 50% – 75% of Nwm Holdings Ltd. × 50% – 75% direct ≈ 25% – 56.25% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 2.36 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
Allegations: THE FIRM HAD (WITH THE KNOWLEDGE AND PRIOR CONSENT OF THE CLIENT) CAUSED A MORTGAGE TO BE PURCHASED FROM THE ACCOUNT OF A CLIENT (RECORDED AS A MANAGED ACCOUNT BUT OPERATED ONLY WITH THE ONGOING CONSENTS OF THE CLIENT) BY ANOTHER MANAGED ACCOUNT (A PRIVATE POOLED FUND OF THE FIRM). THIS WAS DEEMED TO BE A BREACH OF NATIONAL INSTRUMENT 31-103 PART 13.5(B) THAT PROHIBITS A MANAGER FROM SELLING OR BUYING SECURITIES BETWEEN TWO ACCOUNTS THEY MANAGE ON A DISCRETIONARY BASIS. Status: Final Sanction Detail: THE FIRM REVIEWED THE TRANSACTION FOR HARM TO THE CLIENT'S BEST INTEREST AND REPORTED THE INVESTIGATION WAS COMPLETED AND COMMITTED TO STRENGTHENING POLICIES IN THIS REGARD (POLICY WAS ENCLOSED WITH COMMITMENT). Summary: THE FIRM REVIEWED THE TRANSACTION FOR HARM TO THE CLIENT'S BEST INTEREST AND REPORTED THE INVESTIGATION WAS COMPLETED AND COMMITTED TO STRENGTHENING POLICIES IN THIS REGARD (POLICY WAS ENCLOSED WITH COMMITMENT).
Disclosure text reproduced verbatim from the firm's own Form ADV filings.
How they charge
- • Percentage of assets under management
- • Fixed fees
- • Performance-based fees
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for pooled investment vehicles
- • Other services
Custody
Reported custodians
- National Bank Of Canada $10.9B (99% of AUM) Mar 2026
- Pershing $98.4M (1% of AUM) Mar 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗