Santa Ana, CA Office

Kovack Advisors, Inc. is a multi-team registered investment adviser with roughly 260 advisors and over $6 billion in client assets, serving individuals (including high‑net‑worth clients), pension and profit‑sharing plans, charitable organizations, banks and thrift institutions, and state and municipal government clients. The firm provides traditional advisory services including discretionary and non‑discretionary portfolio management, financial planning, and sub‑advisory/Independent Advisor program access, along with aggregation and limited management of “held‑away” retirement plan assets.

The firm implements client portfolios using an Envestnet-supported workflow that begins with a risk‑tolerance questionnaire and a Statement of Investment Selection, and it employs internally created models as well as third‑party managers and TAMPs to construct allocations and manage accounts. KAI monitors accounts on an ongoing basis, may rebalance or replace managers when strategies deviate, and offers both model‑based and advisor‑managed solutions across multiple custodians and execution venues.

Compared with many peers, Kovack discloses a number of atypical features: affiliation with an introducing broker‑dealer and an affiliated law firm, a related municipal advisory affiliate, and a client mix that explicitly includes banking and state/municipal entities. The firm has also reported several regulatory matters in recent years (including an SEC mutual‑fund share‑class self‑report, a 2022 SEC wrap‑program settlement, and a November 21, 2025 Delaware consent order) and discloses relationships and revenue‑sharing (including a core sweep program and other vendor arrangements) that it identifies and addresses in its disclosures.