{
  "crd_number": 174569,
  "slug": "11-financial-lufkin-tx-174569",
  "primary_business_name": "11 FINANCIAL",
  "legal_name": "K-WM LLC",
  "dbas": [
    "KOVAR WEALTH MANAGEMENT",
    "PHYSICIAN FINANCIAL PLANNING"
  ],
  "city": "Lufkin",
  "state": "TX",
  "country": "United States",
  "cbsa_code": "31260",
  "metro": null,
  "registration_type": "state",
  "registration_status": "APPROVED",
  "registration_date": "2025-01-28",
  "years_registered": 1,
  "period": "2026-10-01",
  "filing_date": "2026-05-05",
  "carried_forward": false,
  "raum_total": 36813959.0,
  "raum_discretionary": 36730251.0,
  "raum_non_discretionary": 83708.0,
  "raum_band": "25m_100m",
  "raum_band_label": "$25 million to $100 million",
  "total_employees": 6,
  "advisory_employees": 6,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "individuals": {
      "raum": 13363739.0,
      "count": 120
    },
    "high_net_worth_individuals": {
      "raum": 19465329.0,
      "count": 13
    },
    "corporations_other_businesses": {
      "raum": 3984891.0,
      "count": null,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 1,
  "states_registered": [
    "AL",
    "CA",
    "FL",
    "LA",
    "TX",
    "VA"
  ],
  "websites": [
    "https://choose11.com",
    "https://facebook.com/KovarWealth",
    "https://linkedin.com/company/11financial"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/174569",
  "disclosure_items": [
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    }
  ],
  "city_as_filed": "LUFKIN",
  "url": "https://advisorcensus.com/firm/11-financial-lufkin-tx-174569",
  "display_name": "11 Financial",
  "summary": "11 Financial is a state-registered investment advisory firm in Lufkin, TX, registered since 2025, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated May 5, 2026.",
  "citation": "AdvisorCensus. 11 Financial (CRD 174569): Form ADV filing data as of October 2026.",
  "registration_type_label": "State-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is 11 Financial compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), 11 Financial reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees)."
    },
    {
      "q": "Where is 11 Financial located?",
      "a": "11 Financial's principal office is in Lufkin, TX, according to its Form ADV."
    },
    {
      "q": "Is 11 Financial registered with the SEC or a state?",
      "a": "11 Financial is a state-registered investment advisory firm, registered since 2025. Status as filed: APPROVED. CRD 174569."
    },
    {
      "q": "How much does 11 Financial manage?",
      "a": "11 Financial reports $36,813,959 in regulatory assets under management in its Form ADV filing dated May 5, 2026 (100% discretionary)."
    },
    {
      "q": "How have 11 Financial's assets and staff changed since 2024?",
      "a": "In the Form ADV data for 11 Financial: Regulatory assets under management: $12,359,000 in the October 2024 data and $36,813,959 in the October 2026 data, up 198%. Total employees: 6 in October 2024 and 6 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does 11 Financial serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (120); high net worth individuals (13)."
    },
    {
      "q": "Does 11 Financial report any disciplinary disclosures?",
      "a": "Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's public record on IAPD: https://adviserinfo.sec.gov/firm/summary/174569"
    }
  ],
  "filing_history": [
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 12359000.0,
      "total_employees": 6,
      "filing_date": "2024-08-02"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 36813959.0,
      "total_employees": 6,
      "filing_date": "2026-05-05"
    }
  ],
  "recent_changes": [],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/11-financial-lufkin-tx-174569.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 120,
      "fewer_than_5": false,
      "raum": 13363739.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 13,
      "fewer_than_5": false,
      "raum": 19465329.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": null,
      "fewer_than_5": true,
      "raum": 3984891.0
    }
  ],
  "disclosure_line": "Reports 1 disclosure item on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/174569",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}