General Registration Fees
The following Fee Schedule outlines the current fees which are associated with your licenses at KSI and Kovack Advisors. The fees are based one of three categories: FINRA/SEC Fees, State Fees, and KSI/KAI related expenses. As such they are itemized for you below:
| FINRA Fees: | $ Amount | Fee Occurs |
|---|---|---|
| Annual Regulatory Assessment Fee |
$930.00
|
Every Year
|
| FINRA Fingerprint Processing Fee |
$45.00
|
Upon Registering w/ KSI
|
| FINRA Initial Registration, Transfer, or Annual Renewal Fee |
$220.00
|
Every Year in December
|
| FINRA Mandatory E-Mail Registration/Renewal & Cybersecurity Bundle Fee (Please note, the fee applies for each e-mail account) |
$30
|
Monthly
|
| FINRA Branch Office Initial/Renewal Fee * plus any applicable state charges as noted in the table below |
$250.00 minimum*
|
Every Year in December
|
| FINRA Termination Fee |
$150.00
|
Plus if your Office is located in one of the following states then an additional state fee applies as listed:
| State | Initial Branch Fee Fee | Branch Renewal Fee | Fee Occurs |
|---|---|---|---|
| Alaska | $75.00 | $75.00 | Every Year in December |
| Arkansas | $50.00 | $50.00 | Every Year in December |
| Connecticut | $125.00 | $0.00 | Non-Recurring |
| Florida | $100.00 | $100.00 | Every Year in December |
| Illinois | $20.00 | $20.00 | Every Year in December |
| Maine | $50.00 | $30.00 | Every Year in December |
| Nevada | $100.00 | $100.00 | Every Year in December |
| Rhode Island | $100.00 | $100.00 | Every Year in December |
| Vermont | $120.00 | $120.00 | Every Year in December |
| Virgin Islands | $100.00 | $100.00 | Every Year in December |
| West Virginia | $60.00 | $60.00 | Every Year in December |
| Wisconsin | $80.00 | $80.00 | Every Year in December |
| SEC Fees: | ||
|---|---|---|
| SEC Annual Renewal Fee (For all Registered Investment Advisor Reps) | $85.00 | Every Year in December |
| State Securities Fees: | |
|---|---|
| Varies by State. See the State Securities Fee Schedule by clicking HERE. | Every Year in December |
| State Registered Investment Advisor (RIA) Fees: | |
|---|---|
| Varies by State. See the State RIA Fee Schedule by clicking HERE. | Every Year in December |
| Kovack Securities & Kovack Advisors Ongoing Expenses: | $ Amount | Fee Occurs |
|---|---|---|
| Errors & Omissions Insurance (E&O)/Fidelity Bond Coverage |
$395.00
|
Monthly
|
| Errors & Omissions Insurance (E&O)- Registered Sales Assistants |
$500.00
|
Yearly
|
| Kovack Sign |
$22.00
|
Upon Request
|
| SIPC Sign |
$10.00
|
Upon Request
|
| U4 Disclosure Fee |
$110.00
|
Per Disclosure, Upon Registering with KSI
|
| Outside Business Activities (Fixed Ins. & DBAs not included) |
$100.00
|
Yearly (per U4 reportable OBA)
|
| Firm Element CE |
$165.00
|
Yearly
|
| Annual Compliance Meeting |
$200.00
|
At theTime of the Meeting
|
| Annual Compliance Branch Audit - One Rep Office |
$500.00
|
At theTime of the Audit
|
| Annual Compliance Branch Audit - Multiple Rep Office |
$750.00
|
At theTime of the Audit
|
| Laptop Encryption Fee, (per device) |
$160.00/initial
$5.00/Monthly |
|
| Text Message Archiving |
$25.00
|
Monthly
|
| Social Media Fee: | ||
|
$20.00
|
Monthly
|
|
| LinkedIn Business (DBA) Profile |
$20.00
|
Monthly
|
| YouTube |
$50.00
|
Monthly
|
| Bounced Check or Rejected EFT Debit |
$35.00
|
Per Occurrence
|
| Wealthscape or NetExchange Pro Technology Fee |
$50.00
|
Monthly
|
| PortfolioOne (Albridge) Fee: | ||
| Basic Light Version |
$75.00
|
Monthly
|
| Enhanced Premium Version |
$150.00
|
Monthly
|
| RiskPro |
$50.00
|
Monthly
|
| Tracker BI |
$25.00
|
Monthly
|
| KSI Annual Renewal Fee |
$95.00
|
Every Year in December
|
| Advances on Commissions | Advance Amount | Fee Charged |
|---|---|---|
|
Under $3k
|
Flat $150
|
|
|
$3k and Higher
|
Greater of $150 or 5% of the requested advance
|
| FINRA Exam Fees: | $ Amount |
|---|---|
| Series 6 |
$155.00
|
| Series 7 |
$380.00
|
| Series 24 |
$175.00
|
| Series 26 |
$150.00
|
| Series 27 |
$175.00
|
| Series 63 |
$147.00
|
| Series 65 |
$187.00
|
| Series 66 |
$177.00
|
| Series 99 |
$140.00
|
