Kovack Securities, Inc.
A subsidiary of Kovack Financial Companies
6451 N. Federal Highway
Fort Lauderdale, FL 33308
No. advisers: 390
No. franchises: 315
Year founded: 1997
Year end: Dec. 31
Recruitment & Staffing
|No. of reps||390||405||415|
|No. of producing reps||—||370||385|
|No. of reps producing $100K-$499K /year||—||201||222|
|Total revenues: Other||0||0||0|
|Total account assets||$8,264,950,000||$7,619,151,200||$6,021,330,777|
|Total account assets: Other||$5,136,246,000||$5,236,450,000||$4,784,421,596|
|Average assets per rep||$20,407,284||$18,359,400||$15,167,080|
December 5, 2017 - It seems obvious at this point that consolidation is a massive trend in the broker-dealer space. According to Finra, registered broker-dealers have been in steady decline for several years, dropping from 4,456 in 2011 to 3,869 at the end of November 2016....
September 27, 2017 - Kovack Securities Inc. said on Wednesday it had purchased the brokerage assets of Capital Guardian, a wealth management firm with 35 financial advisers that shut down its broker-dealer in July, according to its BrokerCheck report. It was Kovack Securities'...
September 11, 2017 - As Hurricane Irma lashed the sunshine state from its tip to its top over the weekend, business continuity plans for independent broker-dealers based in Florida kicked in, keeping the firms open for business for thousands of financial advisers. Prior to...
May 24, 2017 - There's been a marked shift in the allocation of broker-dealer client assets in the year since the Department of Labor issued its fiduciary rule. Largely, the shift has seen assets flow into advisory accounts, which assess a level fee based on client...
Western International to acquire retail assets of Financial West as Kovack Securities picks up TKG Financial
May 9, 2017 - As expected, broker-dealer mergers and acquisitions are beginning to heat up, with small to mid-sized independent broker-dealers being gobbled up by larger copmpanies. Western International Securities Inc. will acquire close to 200 retail brokers of Financial...
January 22, 2017 - The 2017 InvestmentNews independent-broker-dealer directory is based on information provided by 90 eligible firms. To be considered for future listings, contact INResearch@investmentnews.com. Visit InvestmentNews.com/bddata for more-complete profiles....
September 20, 2016 - Finra has barred a former broker who was named in estate documents to inherit his 91-year-old customer's waterfront condominium in Fort Lauderdale, Fla. Douglas Wayne Studer was investigated by the Financial Industry Regulatory Authority Inc. for potentially...
January 24, 2016 - Independent broker-dealers are facing a number of regulatory changes over the coming 12 to 24 months that could divide the industry into winners and losers â€” firms that will be able to adapt and become stronger and those that won't and might fall by...
July 30, 2015 - An executive of an independent broker-dealer won a seat on the Finra board Thursday after waging what he called a â€śdissidentâ€ť campaign. Brian Kovack, president and co-founder of Kovack Securities Inc., was elected to a mid-size firm seat by members...
July 12, 2015 - Three candidates for open seats on the Finra board who had to work their way onto the ballot say they will stand up to the regulator to defend their segments of the industry. They were not selected by the Financial Industry Regulatory Authority Inc. nominating...
- N/A = Not available
- N/D = Not disclosed
- — = Information not available or not disclosed
All 2011-2016 recruitment and staffing data is as of Dec. 31 in the calendar year displayed. Prior year recruitment and staffing data is as of Sept. 30. All financial figures are for firms' year end, unless noted.
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