Kovack Advisors

Kovack Advisors is a wealth management platform, not a single-family or multi-family office. It operates as a corporate registered investment advisor and broker-dealer serving independent financial advisors, who in turn serve their own retail clients. The firm does not manage a concentrated family pool of proprietary capital.

Investment decisions rest with the individual independent advisors who affiliate with Kovack. The firm provides a curated shelf of third-party asset managers, separately managed account programs, and product sponsors, but it does not run a central proprietary strategy. Advisors construct portfolios for their own clients from the approved menu, subject to the platform's due diligence and compliance oversight.

Kovack Advisors' primary clearing and custody relationship is with National Financial Services, a Fidelity Investments company. The firm also supports multi-custodial arrangements through relationships with LPL Financial and Envestnet. This structure permits advisors to select custodians based on their clients' needs, retaining independence in custody choice rather than being locked into a single proprietary custodian.

Kovack Advisors and Kovack Securities operate as affiliated entities under common ownership in Fort Lauderdale. Kovack Securities is the broker-dealer, while Kovack Advisors functions as the registered investment advisor. The dual structure allows affiliated advisors to be dually registered — earning commissions through the broker-dealer and fees through the RIA — or to operate solely as fee-based fiduciaries under the RIA umbrella.

Yes. The platform provides access to alternative investments, including non-traded REITs, private placements, and other exempt offerings. These products are sourced from third-party sponsors and made available to advisors after due diligence review. The extent to which any individual advisor uses alternatives depends on their own client mandates and risk assessments.