# 11 Financial

> 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.

- CRD: 174569
- Filed as: 11 FINANCIAL
- Legal name: K-WM LLC
- Also doing business as: KOVAR WEALTH MANAGEMENT, PHYSICIAN FINANCIAL PLANNING
- Registration: State-registered investment adviser (status as filed: APPROVED)
- Location: Lufkin, TX
- Filing period: October 2026
- Form ADV filing dated: May 5, 2026
- Public record (IAPD): https://adviserinfo.sec.gov/firm/summary/174569
- AdvisorCensus page: https://advisorcensus.com/firm/11-financial-lufkin-tx-174569

## Quick answers

**How is 11 Financial compensated?**
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).

**Where is 11 Financial located?**
11 Financial's principal office is in Lufkin, TX, according to its Form ADV.

**Is 11 Financial registered with the SEC or a state?**
11 Financial is a state-registered investment advisory firm, registered since 2025. Status as filed: APPROVED. CRD 174569.

**How much does 11 Financial manage?**
11 Financial reports $36,813,959 in regulatory assets under management in its Form ADV filing dated May 5, 2026 (100% discretionary).

**How have 11 Financial's assets and staff changed since 2024?**
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.

**What types of clients does 11 Financial serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (120); high net worth individuals (13).

**Does 11 Financial report any disciplinary disclosures?**
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

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Regulatory assets under management (Item 5.F)
- Total: $36,813,959
- Discretionary: $36,730,251
- Non-discretionary: $83,708

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 120 | $13,363,739 |
| High net worth individuals | 13 | $19,465,329 |
| Corporations or other businesses not listed above | Fewer than 5 | $3,984,891 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2025 (1 year)
- Employees: 6 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AL, CA, FL, LA, TX, VA
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): 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?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's public record on IAPD: https://adviserinfo.sec.gov/firm/summary/174569

### Websites listed on Form ADV (Item 1.I)
- choose11.com
- Facebook @KovarWealth
- LinkedIn @11financial

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2024 | $12,359,000 | 6 | August 2, 2024 |
| October 2026 | $36,813,959 | 6 | May 5, 2026 |

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.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. 11 Financial (CRD 174569): Form ADV filing data as of October 2026.