The Move at a Glance
As his business evolved, James Nichols began evaluating whether his existing platform remained the right fit for where he wanted to take his business next. Over the course of his decade at UBS, James’ client base became increasingly concentrated among entrepreneurs and business owners whose complex needs called for greater flexibility, sophisticated resources, and a platform designed for long-term ownership. He worked with Diamond Consultants to evaluate the expanding RIA landscape before ultimately selecting NewEdge Wealth.
After a decade at UBS, James Nichols has joined NewEdge Wealth as a Principal in the firm’s new downtown Nashville office, bringing more than $350mm in client assets. Guided by Diamond Consultants, James selected an RIA partner built to support the sophisticated needs of entrepreneurs, business owners, and multi-generational families while providing greater ownership, flexibility, and long-term optionality.
Joining James are Vice President, Client Service Erin Thomas and Client Service Analyst Lena Schelzig.
Built Around the Needs of Entrepreneurs
James has spent nearly two decades advising successful entrepreneurs, business owners, and families through some of life’s most significant financial events, including business sales and liquidity events. Prior to joining UBS, where he spent the last 10 years as a Senior Vice President–Wealth Management, James held senior advisory roles at Morgan Stanley and Smith Barney.
As his clients’ needs became increasingly sophisticated, James began evaluating whether his existing platform would continue to support the way he wanted to serve them over the long term.
Rather than looking for change for its own sake, he wanted an environment that offered greater flexibility, access to integrated high-net-worth capabilities, and modern technology – including thoughtfully implemented AI tools – to enhance both the client experience and the efficiency of his practice. Equally important were the opportunity to build equity in his business and greater flexibility around succession planning.
The Attraction to NewEdge Wealth
James focused his due diligence on the RIA space, seeking a partner that combined entrepreneurial freedom with institutional-quality resources.
NewEdge Wealth stood out for its partnership model, sophisticated capabilities for high- and ultra-high-net-worth clients, and flexible approach to technology. The firm’s integrated platform enables advisors to leverage best-in-class solutions while maintaining the freedom to build a business aligned with their vision.
NewEdge’s deep experience serving entrepreneurs and business owners also aligned naturally with James’ client base, giving him confidence that he could continue delivering the personalized advice his clients expect while positioning the business for future growth.
As Rob Sechan, Founder and Managing Partner of NewEdge Capital Group and Head of NewEdge Wealth, noted:
“Central Tennessee has seen an explosion of growth for nearly a decade, with large tech firms, startups and established industries creating significant wealth in the region. James’ extensive experience supporting local business owners as they navigate the changing landscape will enhance our ability to serve this important and growing market.”
Why Transition
- Greater flexibility to build and own his business.
- A modern technology ecosystem designed to improve advisor productivity and the client experience.
- Sophisticated high-net-worth and ultra-high-net-worth resources aligned with the needs of entrepreneurs and business owners.
- More optionality around long-term succession planning.
- An integrated RIA platform that supports growth without unnecessary limitations.
Why Use Diamond Consultants?
James connected with Diamond Consultants as he sought to better understand the expanding range of opportunities in the RIA space.
Working closely together, we helped clarify his long-term priorities, narrow a broad field of potential options, and evaluate which platform best aligned with his clients, business objectives, and vision for the future. Through a thoughtful due diligence process, NewEdge Wealth emerged as the partner that best satisfied those goals.
We are grateful to have advised James throughout this important decision and wish him, Erin, and Lena continued success as they begin this next chapter at NewEdge Wealth.