Kovack Securities, Inc.

Kovack Securities, Inc.

A subsidiary of Kovack Financial Companies

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6451 N. Federal Highway Ste #1201

Fort Lauderdale, FL 33308

(866) 564-6574

joinksi.com

Clearing firm: Fidelity Clearing and Custody Solutions, National Financial Services LLC, Pershing LLC

No. advisers: 395

No. franchises: 315

AUM: $12,245,260,000

Year founded: 1997

Year end: Dec. 31

No. of retail offices: 375

For More Information

CEOBrian J. Kovack
Top ExecutiveBrian J. Kovack
Recruiting ContactCarlo A. Bidone
(954) 670-0616
E-mail
Compliance ContactMelinda Wolfe
(954) 782-4771
E-mail
Marketing ContactMindy Marble
(954) 782-4771
E-mail
Technology Operations ContactJames Chris Mills
(954) 782-4771
E-mail

Recruitment & Staffing

2019 2018 2017
No. of reps395410415
No. of reps, male237246258
No. of reps, female158164157
No. of producing reps382405395
No. of producing reps, male230244245
No. of producing reps, female152161150
No. of reps producing $100K-$499K /year261240224
No. of reps producing $500K+ /year535552
No. of CFPs786472
No. of full-time employees707575
No. of fee-based advisers served345342326
Average payout per rep, per year$205,327$195,920$179,735
Avg. annual production of top 20% reps$810,140$816,300$822,540
Total payout, per year$61,280,970$62,937,200$58,180,200
Cost of E&O insurance per rep, per year37803600$3600
Affiliation fees charged per rep, per yearnoneNoneNone
Affiliation fee coverage
$0-$249,999 $250K-$499,999 $500K-$749,999 $750K-$999,999 $1,000,000+
Mutual funds 86%-90% 91%-95% 91%-95% 91%-95% 91%-95%
Insurance 86%-90% 91%-95% 91%-95% 91%-95% 91%-95%
Variable annuities 86%-90% 91%-95% 91%-95% 91%-95% 91%-95%
Limited parterships Do not offer this product Do not offer this product Do not offer this product Do not offer this product Do not offer this product
Securities 86%-90% 91%-95% 91%-95% 91%-95% 91%-95%
Required minimum production$50,000
2019 2018 2017
Total revenues$78,435,000$79,347,000$74,590,000
Commission revenues$38,553,600$41,260,440$37,274,974
Securities revenues$10,814,000$10,428,850$9,506,547
Securities revenues: Stocks$5,128,000$4,976,350$4,547,882
Securities revenues: Bonds$1,365,400$1,440,000$1,217,220
Securities revenues: ETFs$2,970,000$2,170,000$2,015,000
Securities revenues: Other$1,350,600$1,842,500$1,726,445
Mutual fund revenues$11,483,100$11,030,540$9,913,659
Annuities revenues$15,458,000$19,034,960$17,009,621
Annuities revenues: Fixed$2,465,500$3,184,540$2,946,945
Annuities revenues: Variable$12,992,500$15,850,420$14,062,676
Annuities revenues: Other000
Insurance revenue$45,350$29,850$25,910
Insurance revenues: Life000
Insurance revenues: Disabilities000
Insurance revenues: LTC$45,350$29,850$25,910
Insurance revenues: Other000
Alternative revenues$753,150$736,240$819,237
Alternative revenues: Hedge funds000
Alternative revenues: Managed futures000
Alternative revenues: Private placements000
Alternative revenues: REITs$556,280$570,400$631,555
Alternative revenues: Other$196,870$165,840$187,682
Other commission revenues
Fee revenues$38,228,400$35,746,560$32,508,076
Fee revenues: Rep-managed accounts$23,805,600$22,620,000$20,391,399
Fee revenues: Firm-managed accounts000
Fee revenues: Outside-managed accounts$13,910,000$12,046,560$11,216,557
Fee revenues: Other$512,800$1,080,000$900,120
Total revenues: Other$1,653,000$2,340,000$4,806,950
2019 2018 2017
Total account assets$12,245,260,000$11,481,300,000$10,615,000,000
Fee-based assets$3,031,207,000$2,734,000,000$4,182,500,000
Fee-based assets: Clearing firm$2,100,452,000$1,865,724,500$3,310,825,000
Fee-based assets: Advisory firm platforms$28,650,000$21,500,500$22,100,600
Fee-based assets: Third-party money managers$902,105,000$846,775,000$849,574,400
Fee-based assets: Other
Total account assets: Other$9,214,053,000$8,747,300,000$6,432,500,000
Average assets per rep$31,000,658$28,003,171$25,578,313
    Notes
  • 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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