SEC-registered wealth management firm Broker-dealer affiliated
Kovack Advisors, Inc.
As of its Form ADV filed April 27, 2026, Kovack Advisors, Inc., an SEC-registered, broker-dealer affiliated wealth management firm in Fort Lauderdale, Florida, reported $6.3 billion in regulatory assets under management across 20,493 accounts, ranking #12 among all wealth firms in Florida by assets.
Registration
- Main office
- Fort Lauderdale, FL
- Registration
- SEC-registered, Approved
- CRD number
- 140808
- SEC file number
- 801-63048
- Registered since
- April 21, 2004
- Latest Form ADV filing
- April 27, 2026
- Organized as
- Corporation
- Fiscal year ends
- December
- Other offices
- 198
Key figures
- Regulatory assets under management
- $6.3 billion
- Discretionary
- $5.1 billion (81.6%)
- Non-discretionary
- $1.2 billion
- Accounts
- 20,493 (17,111 discretionary)
- Clients
- 13,498, approximate as reported
- Employees
- 320
- Advisory staff
- 300 performing investment advisory functions
- Average account
- $306,430
- Asset growth, 1 year
- 13.5% (from $5.5 billion a year earlier)
- Asset growth, 3-year annual rate
- 19.8% (from $3.7 billion three years earlier)
- Asset growth, 5-year annual rate
- 12.3% (from $3.5 billion five years earlier)
- Client growth, 1 year
- -6.8% (from 14,484)
Broker-dealer affiliated. The firm is affiliated with a broker-dealer (Item 7.A(1)), at least half of its advisory staff are registered representatives of a broker-dealer (Item 5.B(2) against 5.B(1)), and its advisers manage less than $100 million each on average (5.F(2)(c) over 5.B(1)), the pattern of a broker-dealer's advisory arm rather than an adviser that owns a small broker-dealer. It is ranked among all wealth firms, the directory's view that includes wirehouses and broker-dealer firms, not in the main lists of independent RIAs. How firms are classed.
Growth rates come from the SEC's yearly snapshots and are left blank when the years are not comparable.
Rankings
Among all wealth firms, including wirehouses and broker-dealer firms.
Assets over time
Data table
| As of | RAUM |
|---|---|
| October 1, 2010 | $349.2 million |
| October 3, 2011 | $494.9 million |
| October 1, 2012 | $614.5 million |
| October 1, 2013 | $809.4 million |
| October 1, 2014 | $913.9 million |
| October 1, 2015 | $1.2 billion |
| October 3, 2016 | $1.3 billion |
| October 2, 2017 | $1.7 billion |
| October 1, 2018 | $2.2 billion |
| October 1, 2019 | $2.3 billion |
| October 1, 2020 | $2.9 billion |
| October 4, 2021 | $3.5 billion |
| October 3, 2022 | $4.5 billion |
| October 5, 2023 | $3.7 billion |
| October 1, 2024 | $4.3 billion |
| September 2, 2025 | $5.5 billion |
| October 2, 2026 | $6.3 billion |
Clients and services
Client mix
| Measure | Bar | RAUM |
|---|---|---|
| Individuals (other than high net worth) 11,316 clients | $2.8 billion | |
| High net worth individuals 1,590 clients | $2.8 billion | |
| Corporations or other businesses 200 clients | $490.4 million | |
| State or municipal government entities 5 clients | $198.6 million | |
| Banking or thrift institutions 1 client | $756,724 | |
| Pension and profit sharing plans 181 clients | $0 |
How the firm is paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
- Other
Advisory services
- Financial planning
- Portfolio management for individuals or small businesses
- Portfolio management for businesses or institutional clients
- Selection of other advisers
Financial planning clients (Item 5.H): 51-100.
Wrap fee program sponsor or portfolio manager: no.
Other business, affiliations and custody
Other business activities (Item 6.A)
None reported.
Financial industry affiliations (Item 7.A)
- Broker-dealer
- Lawyer or law firm
Custody (Item 9)
The firm reported custody of client cash or securities, $768.0 million in total.
Investment adviser representatives
- IARs registered with the firm
- 258
- Also registered through a broker-dealer
- 245
- Employees who are IARs (Form ADV 5.B(3))
- 300
Designations held by the firm's IARs: CFP 40, ChFC 11, PFS 4, CFA 2.
Between 113 and 202 of the firm's 258 IARs are registered in jurisdictions that require IAR CE. The source counts registrations by jurisdiction, and many IARs are registered in more than one, so the exact number is not knowable from it. IAR CE requirements by state.
Counts only. AdvisorIQ does not list individual people.
Disclosures
On Form ADV Item 11 the firm answered yes to 9 disclosure questions. See the detail on IAPD.
Succession and acquired firms
On Form ADV Item 4 the firm did not report succeeding to another adviser's business.
Similar-sized firms in Florida
| Firm | City | RAUM |
|---|---|---|
| Dakota Wealth, LLC | Palm Beach Gardens | $6.9 billion |
| Gladstone Wealth Partners | Palm Beach Gardens | $5.7 billion |
| Yale Capital Corp. | St. Petersburg | $5.6 billion |
| Gentrust | Miami | $5.2 billion |
| Moran Wealth Management, LLC | Naples | $5.1 billion |
The five wealth firms, broker-dealer affiliated firms included, nearest in regulatory assets with a main office in the same state.
Elsewhere
- Kovack Advisors, Inc. on IAPD: Form ADV, brochures and disclosure detail.
- Firm website: kovackadvisors.com
- Wealth management firms in Florida
Firm data as of October 2, 2026, from ia100226.zip. Figures are as the firm reported them; corrections are made on Form ADV and appear after the next monthly reload.
Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.