Kovack Advisors provides continuous discretionary and non-discretionary investment management services, financial planning, and specialized programs for individuals, high-net-worth clients, and other entities. Founded in 2004 and based in Fort Lauderdale, Florida, Kovack Advisors operates as a registered investment adviser wholly owned by Kovack Financial. When managing investments, Kovack Advisors utilizes platforms like Envestnet to design personalized portfolios based on risk tolerance questionnaires and statements of investment selection. The firm may also recommend third-party money managers or asset manager programs to manage all or a portion of client accounts, and offers management of held-away assets such as 401(k) plans through aggregation services. Kovack Advisors provides financial planning services covering areas such as retirement needs, general planning, risk management, and tax assessments. The firm emphasizes diversified asset allocation primarily using mutual funds, exchange-traded funds, individual stocks and bonds, and alternative investments, while also disclosing various conflicts of interest related to affiliated broker-dealers, cash sweep programs, and third-party revenue-sharing arrangements.
Fee Structure
Portfolio-Based Fees (Flat)
| Portfolio Value | Annual Fee |
|---|---|
| Any | 2.90% |
Maximum annual fee is 2.90%. Fees are negotiable depending on asset amount, type, complexity, and services provided. Combined fees with third-party managers will not exceed 2.90%.