Interview with Jason Nickerson, CFP®, EA – President & COO, John G. Ullman & Associates, Inc.
This interview has been edited for length and clarity.
Q: We’ve concluded Q1 2025—what stands out the most to you from the first three months of the year?
Jason Nickerson:
I think what stands out the most, probably for almost everybody, is how the year started with the new administration. Markets were off to a solid, positive upswing, and then seemingly overnight, everything changed. It felt like the world shifted with new policies being implemented and the markets reacting quickly.
There are people who feel uneasy about what the president might do, and now we’re starting to see some of that unfold. Others were optimistic about the new president but are now uncertain about how the economy and markets are responding. So the global situation, our country’s economic position, and the market’s reaction have really been top of mind for us—and for our clients—alongside our usual first-quarter work.
Q: A lot has changed nationally and globally over the last few months. How have we guided clients through this, and how will we continue to do so?
Jason Nickerson:
It’s during times like these that the value of having a balanced approach becomes even more evident. Many of our long-term clients—who’ve been with us for years—are familiar and comfortable with how we react during market turbulence. Their level of concern has been relatively muted.
For newer clients, we hope they’re starting to see the benefits of that same balanced approach. And it’s not just how we manage their investments, but how we handle comprehensive financial planning. We emphasize insulating personal finances through healthy cash flow, sufficient savings, and maintaining a long-term perspective. That structure helps reduce worry and frustration.
Q: What advice would you give to clients who are concerned about continued volatility in 2025? And what about those looking for reasons to stay optimistic about the market in general?
Jason Nickerson:
For those seeking optimism: even if you’re not a fan of the current administration, the reality is we’ve been through tough times before, and we’ve always figured it out as a country. There’s reason to believe we’ll find our footing again.
As for clients concerned about volatility, we remind them why we’ve structured their investments and financial plans the way we have. Many clients have healthy cash reserves. And if they’ve had to spend down more than expected, they often come to us asking where to pull from next. In many cases, 40–60% of their portfolio isn’t even in the stock market. So we can tap into those resources without worry.
That balance—again, not just in investments but in our broader approach to planning—is what helps guide people through uncertain times.
Q: Q1 also brings tax season. Can you speak to the value and work of our in-house tax department?
Jason Nickerson:
Having an in-house tax department is a real differentiator for us. It’s not just about preparing returns—it’s also about training our advisors to be well-versed in tax matters. We prepare over 1,600 tax returns across the firm. Around 60% are done directly by the tax team, and the other 40% by advisors, who’ve been trained to do so.
But stepping back, our approach to tax is unique. We’re planning-first. Our goal—something we achieve about 99% of the time—is to walk into tax season with no surprises. Filing becomes a simple compliance step, not a moment of stress.
Our tax team, led by Don Huff—one of the best leaders and tax professionals I’ve ever worked with—makes that possible. They play a central role in the full service we provide our clients. Their ability to collaborate directly with both advisors and clients is incredibly valuable.
About John G. Ullman & Associates, Inc.
John G. Ullman & Associates, Inc., was founded in Corning, N.Y., in 1978. The firm is a Registered Investment Advisor (RIA) registered federally with the Securities & Exchange Commission*. As an independent, fee-based investment management firm, JGUA provides comprehensive wealth management strategies and services to clients. The firm manages over $1 billion in client assets, with a staff of more than 75 employees across four locations: Horseheads, N.Y., Rhinebeck, N.Y., Charlotte, N.C., and Corning, N.Y.
If you are interested in learning more about how JGUA could help you, visit our website here, or call 1 (800) 936-3785. You can follow us on LinkedIn, Twitter, Facebook, Instagram, YouTube, and The JGUA Blog.
*Registration does not imply a certain level of skill or training.
