FSI Endorses Brian Kovack for FINRA Mid-Size Board Seat
WASHINGTON, D.C. – Today, the Financial Services Institute (FSI), the only trade association that solely advocates for independent financial services firms and independent financial advisors, officially endorsed Kovack Securities’ Co-Founder & President Brian Kovack for the Mid-Size Firm seat on the FINRA Board of Governors. Brian currently serves as a FINRA governor and is running for a second term. The election for this position will take place on August 28 at the FINRA annual meeting.
Dale Brown, FSI’s President & CEO, said: “We are very pleased to endorse Brian for the second time for this important position. Being the owner of an independent firm brings a unique perspective to the Board of Governors. Over the last three years, tapping into his experience of running a family-owned business, Brian has represented the industry well and helped FINRA move in the right direction. We strongly urge all eligible firms to vote for Brian for a second successful term.”
Brian is a second-generation leader of a family-owned firm. After successfully petitioning to get on the ballot in 2015, with FSI’s endorsement, he secured the required number of signatures and went on to win the election. FINRA’s nominating committee has now endorsed Brian for a second term.
Brian Kovack, Kovack Securities’ Co-Founder & President, said, “I am very grateful to FSI for their endorsement in this crucial election, and for their steadfast support over the past three years. As the voice of independent firms and financial advisors across the country, FSI has been a vital partner during my time on the Board of Governors, and has been instrumental in helping me move FINRA toward a more collaborative, transparent future by streamlining its exam process, establishing a Small Firm Helpline, ensuring that FINRA communicates its priorities more clearly to member firms, and many other positive measures. As FSI knows, there is much more to be done – and with the support of FSI and its members, I look forward to driving further progress in the term ahead.”
Last month, FSI endorsed Securities America Financial Corporation CEO and Securities America Inc. President Jim Nagengast for the FINRA Large Firm Board seat. Jim won that election and joined Brian, as well as Amy Webber, President and Chief Executive Officer of Cambridge Investment Research, on the FINRA Board – giving FSI members three Board seats.
In addition to his experience as Co-Founder and President of Kovack Securities, Mr. Kovack’s extensive background includes serving on the NASD Board of Governors and the FINRA Interim Board of Governors as a mid-size firm representative in 2006. He also served a three-year term on the FINRA District 7 Committee, as well as a one-year term on the FINRA Regulatory Advisory Committee in 2013. In addition, he has served as a FINRA Dispute Resolution arbitrator since 2003, and in 2004 completed the FINRA Institute at Wharton Program, where he earned the Certified Regulatory and Compliance Professional (CRCP) designation. He also maintains Series 7, 24, 27, 53, 63 and 65 licenses.
Mr. Kovack holds a Bachelor of Science in Finance from the University of Florida and obtained Master of Accounting and Juris Doctorate (J.D.) degrees from Nova Southeastern University. He has been a Member of the Florida Bar and American Bar Association since 2000.
About the Financial Services Institute (FSI): The Financial Services Institute (FSI) is the only organization advocating solely on behalf of independent financial advisors and independent financial services firms. Since 2004, through advocacy, education and public awareness, FSI has successfully promoted a more responsible regulatory environment for more than 100 independent financial services firm members and their 160,000+ affiliated financial advisors – which comprise over 60% of all producing registered representatives. We effect change through involvement in FINRA governance as well as constructive engagement in the regulatory and legislative processes, working to create a healthier regulatory environment for our members so they can provide affordable, objective advice to hard-working Main Street Americans. For more information, please visit financialservices.org.