# Novak & Powell Financial Services, Inc.

> Novak & Powell Financial Services, Inc. is an SEC-registered investment advisory firm in St. Petersburg, FL, registered since 2017, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 22, 2026.

- CRD: 112970
- Filed as: NOVAK & POWELL FINANCIAL SERVICES, INC.
- Also doing business as: CARR CAPITAL MANAGEMENT, GATES & POWELL FINANCIAL SERVICES, INC., GATES FINANCIAL SERVICES, INC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: St. Petersburg, FL
- Filing period: October 2026
- Form ADV filing dated: March 22, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/112970
- AdvisorCensus page: https://advisorcensus.com/firm/novak-and-powell-financial-services-inc-st-petersburg-fl-112970

## Quick answers

**How is Novak & Powell Financial Services, Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), Novak & Powell Financial Services, Inc. reports these compensation arrangements: a percentage of assets under its management.

**Where is Novak & Powell Financial Services, Inc. located?**
Novak & Powell Financial Services, Inc.'s principal office is in St. Petersburg, FL, according to its Form ADV; the April 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Novak & Powell Financial Services, Inc. registered with the SEC or a state?**
Novak & Powell Financial Services, Inc. is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 112970.

**How much does Novak & Powell Financial Services, Inc. manage?**
Novak & Powell Financial Services, Inc. reports $359,464,704 in regulatory assets under management in its Form ADV filing dated March 22, 2026 (100% discretionary).

**How have Novak & Powell Financial Services, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for Novak & Powell Financial Services, Inc.: Regulatory assets under management: $238,557,949 in the October 2021 data and $359,464,704 in the October 2026 data, up 51%. Total employees: 6 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Novak & Powell Financial Services, Inc. serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (426).

**Which custodians does Novak & Powell Financial Services, Inc. use?**
Novak & Powell Financial Services, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Raymond James & Associates, Inc. as custodians holding 10% or more of its separately managed account assets.

**Does Novak & Powell Financial Services, Inc. report any disciplinary disclosures?**
Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(2) (another regulator's 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 SEC record: https://adviserinfo.sec.gov/firm/summary/112970

**Does Novak & Powell Financial Services, Inc. state an account minimum?**
Its Form ADV Part 2A brochure dated March 22, 2026 says: "The minimum portfolio value is generally set at $500,000. NPFS may, at its sole discretion, make exceptions to this minimum portfolio value or the below annual fee schedule."

**What changed in Novak & Powell Financial Services, Inc.'s recent Form ADV filings?**
In the April 2026 filing data: No longer lists the business name A.T. Whitehead. Employees performing advisory functions went from 8 to 7.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Fees and minimums (Form ADV Part 2A brochure dated March 22, 2026)

- Account minimum: $500,000 (the brochure says it may be waived or negotiated)

> The minimum portfolio value is generally set at $500,000. NPFS may, at its sole discretion, make exceptions to this minimum portfolio value or the below annual fee schedule.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Raymond James & Associates, Inc.

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.

### Regulatory assets under management (Item 5.F)
- Total: $359,464,704
- Discretionary: $359,464,704
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 426 | $359,464,704 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 2017 (9 years)
- Employees: 7 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AL, AZ, CA, CO, FL, GA, IN, MA, MO, NC, NY, PA, RI, TX, WV
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

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

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 SEC record: https://adviserinfo.sec.gov/firm/summary/112970

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Boulder, CO
- Largo, FL
- Tucson, AZ

### Websites listed on Form ADV (Item 1.I)
- carrteam.com
- novakpowell.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $238,557,949 | 6 | March 23, 2021 |
| October 2022 | $296,486,479 | 9 | March 31, 2022 |
| October 2023 | $256,267,569 | 10 | March 29, 2023 |
| October 2024 | $305,936,638 | 8 | March 28, 2024 |
| October 2025 | $333,645,585 | 8 | March 28, 2025 |
| October 2026 | $359,464,704 | 7 | March 22, 2026 |

Regulatory assets under management: $238,557,949 in the October 2021 data and $359,464,704 in the October 2026 data, up 51%.
Total employees: 6 in October 2021 and 7 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- No longer lists the business name A.T. Whitehead.
- Employees performing advisory functions went from 8 to 7.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Novak & Powell Financial Services, Inc. (CRD 112970): Form ADV filing data as of October 2026.