2022 Trusted Advisers Attorney: Rodney H. Nichols

If asked about the principle behind his work, Rodney H. Nichols says honesty is the best policy.

“This involves telling the client what they need to hear, which may, at times, be different from what they want to hear,” says Nichols, an attorney and partner for Spencer Fane LLP.

Once all the facts of the situation are out on the table, Nichols can help clients decide the best course of action. He typically discusses multiple strategies with clients, aiming to help them understand the pros and cons. Nichols’ goal is always to help clients avoid unfavorable legal situations so they can focus on their main goals.

“I sincerely hope that my involvement has helped them minimize risks and grow their businesses,” Nichols says.

One of the things that gives Nichols an edge is that he provides clients with constant access – even on evenings and weekends.

He stays current by reading industry publications and attending seminars. While staying up to date on the legal world, he makes sure clients are aware of changes in the law that may be important to them. To keep them in the loop, he gives frequent educational presentations to clients and their staff free of charge.

One recent trend is an increase in demand for loans on projects that involve various types of state and federal tax credits. Spencer Fane offers financial institutions assistance in setting up proper documentation and credit facility agreements to issue loans.

Nichols received recognition at the national level when he successfully defended a financial institution in federal court. After a fraudulent wire transfer, the institution’s online banking security systems were brought under investigation. The institution won by proving the integrity of its online banking security under the Uniform Commercial Code. This was the first reported case in the United States where the financial institution won.

Jason Smith, Spencer Fane’s managing partner in Springfield, says working with Nichols is a privilege.

“His ability to work with all key stakeholders involved in navigating the intricate nature of commercial and real estate financing, including debt restructuring, workouts and reorganizations both inside and outside of bankruptcy,” Smith says, “makes him a sought-out resource not only in Springfield but also in the surrounding four-state region.”

Nichols is part of the Missouri Bankers Association. Formerly, he was vice chair before serving as chair of the association’s bank counsel section. Now, he serves on the advisory board. He is also a member of the American Bankruptcy Institute.

Beyond the legal world, Nichols is a board member for the Good Samaritan Boys Ranch. He previously served as board chairman for the Developmental Center of the Ozarks and was a board member for the Springfield-Greene County Library District, Ozark Greenways and James River Basin Partnership.