Kovack Securities, Inc.
A subsidiary of Kovack Financial Companies
6451 N. Federal Highway Ste #1201
Fort Lauderdale, FL 33308
Clearing firm: Fidelity Clearing and Custody Solutions, National Financial Services LLC, Pershing LLC
No. advisers: 410
No. franchises: 330
Year founded: 1997
Year end: Dec. 31
No. of retail offices: 405
Recruitment & Staffing
|No. of reps||410||415||405|
|No. of producing reps||405||395||370|
|No. of reps producing $100K-$499K /year||240||224||201|
|Total revenues: Other||$2,340,000||$4,806,950||0|
|Total account assets||$11,481,300,000||$10,615,000,000||$8,264,950,000|
|Total account assets: Other||$8,747,300,000||$6,432,500,000||$5,136,246,000|
|Average assets per rep||$28,003,171||$25,578,313||$20,407,284|
September 20, 2019 - Brokers and managers of IFS Securities Inc. are looking for employment elsewhere in the wake of trading losses that could potentially cost the mid-size broker-dealer $10 million. At the time, the Atlanta firm said it had suffered substantial losses as...
December 10, 2018 - A Finra arbitration panel has ruled in favor of adviser Brian Taylor Kirkpatrick in a share-ownership dispute with his former employer Capital Guardian, a now defunct broker-dealer. According to the dispute resolution from the Financial Industry Regulatory...
November 10, 2018 - The 20 years since InvestmentNews launched in 1998 have involved tremendous change in and around the financial advice industry. Here are 20 events that rocked advisers and their clients â€” many of which will continue to shape the profession as it grows...
August 1, 2018 - Three years ago, Brian Kovack won an upset bid as a dissident candidate for a Finra board seat. He's running for re-election this year, but this time as part of the establishment. Mr. Kovack is seeking another three-year term representing mid-size broker-dealers...
April 21, 2018 - After a dismal 2016, the independent broker-dealer industry came back to life in 2017, with the top 25 IBDs collectively reporting $23.2 billion in revenue, a 13.1% annual increase, according to InvestmentNews research. InvestmentNews has been tracking...
April 21, 2018 - Firm 2017 % revenue ($M) % change vs. 2016 2017 commission revenue ($M) % change vs. 2016 2017 fee revenue ($M) % change vs. 2016 2017 other revenue ($M) % change vs. 2016 1 LPL Financial $4,281.50 5.70% $1,670.80 -3.80% $1,409.20 9.30% $1,201.40 17.50%...
- 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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