FILED PURSUANT TO RULE 424(B)(3)
                                                REGISTRATION NO. 333-18911


                    NEW ENGLAND INVESTMENT COMPANIES, L.P.


                                    PROSPECTUS SUPPLEMENT
                                    DATED MARCH 10, 1998 TO
                                    PROSPECTUS DATED MARCH 3, 1998
 

The following information is made a part of the above-referenced prospectus (the
"Prospectus").

                              SELLING UNITHOLDERS

     The information contained in the Prospectus with respect to Selling
Unitholders is updated by the addition of the following Selling Unitholder:
 
 
                                                                               Units Beneficially 
                                                                              Owned After Offering
                               Units Beneficially         Units to be       -----------------------
Selling Unitholder        Owned Prior to Offering(1)    Sold in Offering    Number (1)  Percent (2)
- ------------------        --------------------------    ----------------    ----------  -----------
                                                                             
Reich & Tang, Inc. (3)             44,100                    44,100             0            *
 
* Less than 1%

(1)  Except as otherwise indicated in this table, based on information provided
     by such persons, the entity named in the table above has sole voting and
     investment power with respect to all of the LP Units shown as beneficially
     owned by it.

(2)  Percentage of ownership is based on 6,164,980 LP Units outstanding on
     December 31, 1997, and does not include 110,000 units of general
     partnership interest ("GP Units") owned by the Partnership's general
     partner, which represent all GP Units outstanding.

(3)  The number of LP Units shown does not include 5,955,600 LP Units which may
     be issued to Reich & Tang, Inc. ("RTI") in exchange for the 5,955,600
     Operating Partnership LP Units owned by RTI pursuant to, and subject to the
     limitations of, the Partnership's continuing offer to exchange LP Units for
     Operating Partnership LP Units. The number of LP Units shown also does not
     include LP Units that may be issued in exchange for Operating Partnership
     LP Units that have been contributed by RTI to the Restricted Unit Plan of
     the Operating Partnership, as to which RTI retains certain income and
     reversionary rights.  Oscar L. Tang, a director of the general partner of
     the Partnership, beneficially owns approximately 34% of the stock of RTI,
     not including approximately 13% of such stock held by trusts for the
     benefit of Mr. Tang's children, as to which Mr. Tang disclaims beneficial
     ownership.  All stockholders of RTI are parties to a stockholders'
     agreement relating to the maintenance of such corporation's status as an
     "S" corporation under the Internal Revenue Code which creates numerous
     reciprocal and other rights relating to the disposition of stock in RTI by
     the stockholders.