{ "crd_number": 140808, "slug": "kovack-advisors-inc-ft-lauderdale-fl-140808", "primary_business_name": "KOVACK ADVISORS, INC.", "legal_name": "KOVACK ADVISORS, INC.", "dbas": [], "city": "Ft. Lauderdale", "state": "FL", "country": "United States", "cbsa_code": "33100", "metro": { "cbsa_code": "33100", "common_name": "Miami", "msa_name": "Miami-Fort Lauderdale-West Palm Beach, FL", "path": "/advisors/fl/miami" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2004-04-21", "years_registered": 22, "period": "2026-10-01", "filing_date": "2026-04-27", "carried_forward": false, "raum_total": 6279660562.0, "raum_discretionary": 5124376732.0, "raum_non_discretionary": 1155283830.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 320, "advisory_employees": 300, "client_count_bucket": null, "clients_by_type": { "individuals": { "raum": 2813153118.0, "count": 11316 }, "banking_thrift": { "raum": 756724.0, "count": 1 }, "state_municipal": { "raum": 198622708.0, "count": 5 }, "pension_profit_sharing": { "raum": 0.0, "count": 181 }, "high_net_worth_individuals": { "raum": 2776697863.0, "count": 1590 }, "corporations_other_businesses": { "raum": 490430149.0, "count": 200 } }, "compensation_types": [ "fixed", "hourly", "other", "percentage_of_aum" ], "advisory_activities": [ "financial_planning", "portfolio_management_businesses_institutional", "portfolio_management_individuals", "selection_of_other_advisers" ], "wrap_fee_participant": false, "disclosure_yes_count": 9, "states_registered": [ "AK", "AL", "AR", "AZ", "CA", "CO", "CT", "DC", "DE", "FL", "GA", "HI", "IA", "ID", "IL", "IN", "KS", "KY", "LA", "MA", "MD", "ME", "MI", "MN", "MO", "MS", "MT", "NC", "ND", "NE", "NH", "NJ", "NM", "NV", "NY", "OH", "OK", "OR", "PA", "PR", "RI", "SC", "SD", "TN", "TX", "UT", "VA", "VI", "VT", "WA", "WI", "WV", "WY" ], "websites": [ "https://kovackadvisors.com", "https://linkedin.com/company/kovack-financial-network", "https://x.com/KovackSec" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/140808", "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?" }, { "item": "11.C(4)", "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?" }, { "item": "11.C(5)", "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?" }, { "item": "11.D(1)", "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?" }, { "item": "11.D(2)", "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?" }, { "item": "11.D(4)", "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?" }, { "item": "11.D(5)", "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever denied, suspended, or revoked the registration or license of the firm or an advisory affiliate, prevented either by order from associating with an investment-related business, or restricted either one's activity?" }, { "item": "11.E(2)", "question": "Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?" }, { "item": "11.E(4)", "question": "Has a self-regulatory organization or a commodities exchange ever disciplined the firm or an advisory affiliate by expelling or suspending it from membership, barring or suspending it from association with other members, or otherwise restricting its activities?" } ], "city_as_filed": "FT. LAUDERDALE", "url": "https://advisorcensus.com/firm/kovack-advisors-inc-ft-lauderdale-fl-140808", "display_name": "Kovack Advisors, Inc.", "summary": "Kovack Advisors, Inc. is an SEC-registered investment advisory firm in Ft. Lauderdale, FL, registered since 2004, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated April 27, 2026.", "citation": "AdvisorCensus. Kovack Advisors, Inc. (CRD 140808): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Hourly charges", "Fixed fees (other than subscription fees)", "Other" ], "advisory_activity_labels": [ "Financial planning services", "Portfolio management for individuals and/or small businesses", "Portfolio management for businesses (other than small businesses) or institutional clients", "Selection of other advisers (including private fund managers)" ], "quick_answers": [ { "q": "How is Kovack Advisors, Inc. compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Kovack Advisors, Inc. reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); other." }, { "q": "What does Kovack Advisors, Inc.'s brochure say about its fees?", "a": "Its Form ADV Part 2A brochure dated April 27, 2026 states: Asset-based fee: up to 2.9% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement." }, { "q": "Where is Kovack Advisors, Inc. located?", "a": "Kovack Advisors, Inc.'s principal office is in Ft. Lauderdale, FL, according to its Form ADV; the May 2026 filing also lists 21 other offices (Schedule D, Section 1.F)." }, { "q": "Is Kovack Advisors, Inc. registered with the SEC or a state?", "a": "Kovack Advisors, Inc. is an SEC-registered investment advisory firm, registered since 2004. Status as filed: Approved. CRD 140808." }, { "q": "How much does Kovack Advisors, Inc. manage?", "a": "Kovack Advisors, Inc. reports $6,279,660,562 in regulatory assets under management in its Form ADV filing dated April 27, 2026 (82% discretionary)." }, { "q": "How have Kovack Advisors, Inc.'s assets and staff changed since 2021?", "a": "In the Form ADV data for Kovack Advisors, Inc.: Regulatory assets under management: $3,518,590,788 in the October 2021 data and $6,279,660,562 in the October 2026 data, up 78%. Total employees: 294 in October 2021 and 320 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Kovack Advisors, Inc. serve?", "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (11,316); high net worth individuals (1,590); corporations or other businesses not listed above (200)." }, { "q": "Which custodians does Kovack Advisors, Inc. use?", "a": "Kovack Advisors, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Brokerage Services LLC, National Financial Services LLC and Pershing LLC as custodians holding 10% or more of its separately managed account assets." }, { "q": "Does Kovack Advisors, Inc. report any disciplinary disclosures?", "a": "Reports 9 disclosure items on Form ADV Item 11: yes answers to 9 questions about regulatory matters (11.C(2), 11.C(4), 11.C(5), 11.D(1), 11.D(2), 11.D(4), 11.D(5), 11.E(2), 11.E(4)). 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 SEC record: https://adviserinfo.sec.gov/firm/summary/140808" }, { "q": "What changed in Kovack Advisors, Inc.'s recent Form ADV filings?", "a": "In the April 2026 filing data: Employees performing advisory functions went from 305 to 300. Regulatory assets under management went from $5,533,506,324 to $6,279,660,562 (+13%). Changed its office addresses in Evansville, IN. Changed its office addresses in Troy, MI. Added an office in Floral Park, NY. Added an office in Livingston, NJ. Added an office in Miami, FL. Added an office in Newport Beach, CA. Added an office in Roswell, GA. Added an office in San Juan, PR. No longer lists an office in Adel, GA. No longer lists an office in Altamonte Springs, FL. No longer lists an office in Deer Park, NY. No longer lists an office in Kennesaw, GA. No longer lists an office in Laredo, TX. No longer lists an office in Macon, GA. No longer lists an office in Marietta, GA. No longer lists an office in Moultrie, GA. No longer lists an office in Napoleon, OH. No longer lists an office in Orange, CA. No longer lists an office in Orlando, FL." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 3518590788.0, "total_employees": 294, "filing_date": "2021-05-20" }, { "period": "2022-10-01", "regulatory_assets_under_management": 4547281573.0, "total_employees": 320, "filing_date": "2022-09-19" }, { "period": "2023-10-01", "regulatory_assets_under_management": 3650695824.0, "total_employees": 330, "filing_date": "2023-07-05" }, { "period": "2024-10-01", "regulatory_assets_under_management": 4287822781.0, "total_employees": 315, "filing_date": "2024-09-19" }, { "period": "2025-10-01", "regulatory_assets_under_management": 5533506324.0, "total_employees": 330, "filing_date": "2025-04-28" }, { "period": "2026-10-01", "regulatory_assets_under_management": 6279660562.0, "total_employees": 320, "filing_date": "2026-04-27" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 305 to 300.", "Regulatory assets under management went from $5,533,506,324 to $6,279,660,562 (+13%).", "Changed its office addresses in Evansville, IN.", "Changed its office addresses in Troy, MI.", "Added an office in Floral Park, NY.", "Added an office in Livingston, NJ.", "Added an office in Miami, FL.", "Added an office in Newport Beach, CA.", "Added an office in Roswell, GA.", "Added an office in San Juan, PR.", "No longer lists an office in Adel, GA.", "No longer lists an office in Altamonte Springs, FL.", "No longer lists an office in Deer Park, NY.", "No longer lists an office in Kennesaw, GA.", "No longer lists an office in Laredo, TX.", "No longer lists an office in Macon, GA.", "No longer lists an office in Marietta, GA.", "No longer lists an office in Moultrie, GA.", "No longer lists an office in Napoleon, OH.", "No longer lists an office in Orange, CA.", "No longer lists an office in Orlando, FL." ] }, { "period": "2026-01-01", "period_label": "January 2026", "notes": [ "Item 11 disclosure answers changed: 9 yes answers, previously 8 (now yes: 11.D(1))." ] } ], "fees_from_brochure": { "source": "Form ADV Part 2A brochure dated April 27, 2026", "tiers": [], "flat_rate": null, "stated_range": null, "stated_maximum": "2.9% of assets a year", "account_minimum": null, "account_minimum_may_be_waived": false, "minimum_annual_fee": null, "figures": [ { "label": "Asset-based fee", "statements": [ "Asset-based fee: up to 2.9% of assets a year (the maximum the brochure states)" ], "quotes": [ "The maximum annual fee will be 2.90% of the assets being managed by KAI and/ or by a recommended TAMP." ] } ], "quotes": [ "The maximum annual fee will be 2.90% of the assets being managed by KAI and/ or by a recommended TAMP." ], "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable." }, "custodians": [ { "name": "Fidelity Brokerage Services LLC", "name_as_filed": "FIDELITY BROKERAGE SERVICES LLC", "affiliated": false }, { "name": "National Financial Services LLC", "name_as_filed": "NATIONAL FINANCIAL SERVICES LLC", "affiliated": false }, { "name": "Pershing LLC", "name_as_filed": "PERSHING LLC", "affiliated": false } ], "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.", "markdown_url": "https://advisorcensus.com/firm/kovack-advisors-inc-ft-lauderdale-fl-140808.md", "clients": [ { "type": "individuals", "label": "Individuals (other than high net worth individuals)", "count": 11316, "fewer_than_5": false, "raum": 2813153118.0 }, { "type": "high_net_worth_individuals", "label": "High net worth individuals", "count": 1590, "fewer_than_5": false, "raum": 2776697863.0 }, { "type": "banking_thrift", "label": "Banking or thrift institutions", "count": 1, "fewer_than_5": false, "raum": 756724.0 }, { "type": "pension_profit_sharing", "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)", "count": 181, "fewer_than_5": false, "raum": 0.0 }, { "type": "state_municipal", "label": "State or municipal government entities (including government pension plans)", "count": 5, "fewer_than_5": false, "raum": 198622708.0 }, { "type": "corporations_other_businesses", "label": "Corporations or other businesses not listed above", "count": 200, "fewer_than_5": false, "raum": 490430149.0 } ], "disclosure_line": "Reports 9 disclosure items 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/140808", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }