Covington Investment Advisors, Inc.
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client AUMClient assets under management
$630,639,392
Clients
215
Advisors
5
of 8 employees
About
Covington Investment Advisors is a fee-only, SEC‑registered advisory firm that provides personalized financial planning and portfolio management to individuals (including high‑net‑worth clients), trusts, estates, pension and profit‑sharing plans, charitable organizations, and small businesses. Services documented in the brochure include cash‑flow and tax planning, insurance review, education and retirement planning, and ongoing investment management, with advisory fees charged on an assets‑under‑management basis rather than commissions.
The firm’s investment approach emphasizes long‑term, fundamental security analysis and strategic asset allocation tailored to each client’s documented goals and risk tolerance, with most assets managed on a discretionary basis and client restrictions recorded in a formal investment profile. Research uses public filings, rating services and proprietary modeling, and the firm routinely recommends a primary custodian (Charles Schwab) while reserving the option to “trade away” for fixed‑income execution when another broker‑dealer may provide better access or pricing.
Distinctive features include the firm’s scale relative to its advisor headcount — managing about $885.9 million in client assets with four listed advisors, resulting in unusually high AUM per advisor, and holding custody of roughly $149.5 million with a completed surprise custody audit and ADV‑E filing. The firm operates with a compact team that has added planning and relationship roles recently, maintains a formal Code of Ethics and personal‑trading controls, discloses receipt of credits and services from its recommended custodian (a potential conflict), and generally does not vote client proxies unless assistance is requested.
Client services
Expertise
Occupation focus
Demographic focus
Fee options
1.00% on total assets managed for relationships under $10,000,000; separate negotiated percentage for relationships above $10,000,001
Account minimum: $1,000,000 Fee-only: Fee-only financial planning and investment management; no commissions or sales charges accepted
Main office
301 East Main Street
Ligonier PA 15658
Advisors at this office
5
Most active in
Florida · Pennsylvania · Texas · Virginia
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
Is not active or affiliated with:
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Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Advisors at this firm
Nick A
Series 65
Ligonier, PA
Covington Investment Advisors, Inc.
Nick Allen is a financial advisor at Covington Investment Advisors, Inc. in Ligonier, PA, holding a Series 65 designation with six years of industry experience. He has been with Covington Investment Advisors since 2018 and previously worked at Indiana University of Pennsylvania from 2015 to 2019. Covington Investment Advisors is a fee-only, SEC-registered firm serving individuals, trusts, estates, pension plans, charitable organizations, and small businesses. The firm focuses on long-term fundamental security analysis and strategic asset allocation tailored to clients’ goals and risk tolerances, managing most assets on a discretionary basis.
Jacob D
Series 65
Ligonier, PA
Covington Investment Advisors, Inc.
Jacob Devlin is a financial advisor at Covington Investment Advisors, Inc. with a Series 65 designation and one year of industry experience. His prior work includes roles at PNC Financial Services, Hollister, Giant Eagle, and the Penn-Trafford School District. Covington Investment Advisors is a fee-only, SEC-registered firm providing personalized financial planning and portfolio management to individuals, trusts, estates, pension and profit-sharing plans, charitable organizations, and small businesses. The firm focuses on long-term, fundamental security analysis and strategic asset allocation tailored to clients’ goals and risk tolerance, managing most assets on a discretionary basis.
Colten M
Series 65
Ligonier, PA
Covington Investment Advisors, Inc.
Colten Mc Cutcheon is a financial advisor at Covington Investment Advisors, Inc. with one year of industry experience. He holds a Series 65 credential and previously worked at BNY as well as in educational and community roles including Saint Vincent College and Greater Latrobe High School. Covington Investment Advisors is a fee-only, SEC-registered firm that provides personalized financial planning and portfolio management to individuals, trusts, pension plans, charitable organizations, and small businesses. The firm emphasizes long-term, fundamental security analysis and strategic asset allocation tailored to client goals and risk tolerance.
Patrick W
Ligonier, PA
Covington Investment Advisors, Inc.
Patrick Wallace is a financial advisor at Covington Investment Advisors, Inc. in Ligonier, PA, with 23 years of industry experience. He has been with Covington Investment Advisors since 2003. Covington Investment Advisors is a fee-only, SEC-registered firm serving individuals, trusts, estates, pension and profit-sharing plans, charitable organizations, and small businesses. The firm’s investment approach focuses on long-term fundamental security analysis and strategic asset allocation tailored to client goals and risk tolerance, managing most assets on a discretionary basis.
Cindy J
Series 65
Ligonier, PA
Covington Investment Advisors, Inc.
Cindy Jones is a financial advisor at Covington Investment Advisors, Inc. with 17 years of industry experience. She holds a Series 65 designation and has been with Covington Investment Advisors since 2012. Covington Investment Advisors is a fee-only, SEC-registered firm that offers personalized financial planning and portfolio management to individuals, trusts, estates, pension and profit-sharing plans, charitable organizations, and small businesses. The firm emphasizes long-term fundamental security analysis and strategic asset allocation, managing most assets on a discretionary basis tailored to client goals and risk tolerance.
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