Covenant Asset Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, and insurance. Financial planning was provided to 251–500 clients last fiscal year.
Covenant Asset Management reports 665 clients. They include 412 high-net-worth individuals, 231 individual clients, and 11 pension and profit-sharing plans. Of its assets, 100.0% ($693M across 665 accounts) are managed with discretion. It advised 1 client without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 35% | 6% |
| High-net-worth individuals | 62% | 90% |
| Pension and profit-sharing plans | 2% | 1% |
| Charitable organizations | 1% | 2% |
| Corporations and other businesses | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 231 | $41.6M | 6.0% | $180K |
| High-net-worth individuals | 412 | $626M | 90.3% | $1.52M |
| Pension and profit-sharing plans | 11 | $9.2M | 1.3% | $836K |
| Charitable organizations | 8 | $13.8M | 2.0% | $1.73M |
| Corporations and other businesses | Fewer than 5 | $2.33M | 0.3% | $775K |
| Total | 665 | $693M | 100% | — |
- Clients
- 231
- Regulatory AUM
- $41.6M
- AUM share
- 6.0%
- Avg. per client
- $180K
- Clients
- 412
- Regulatory AUM
- $626M
- AUM share
- 90.3%
- Avg. per client
- $1.52M
- Clients
- 11
- Regulatory AUM
- $9.2M
- AUM share
- 1.3%
- Avg. per client
- $836K
- Clients
- 8
- Regulatory AUM
- $13.8M
- AUM share
- 2.0%
- Avg. per client
- $1.73M
- Clients
- Fewer than 5
- Regulatory AUM
- $2.33M
- AUM share
- 0.3%
- Avg. per client
- $775K
Total
- Clients
- 665
- Regulatory AUM
- $693M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 1
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Covenant Asset Management charges 0.50%–1.25% a year for its Covenant Asset Management Standard Annual Fee Schedule. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$1M | 1.25% |
| $1M–$3M | 1.00% |
| $3M–$5M | 0.85% |
| $5M–$10M | 0.75% |
| $10M and above | 0.50% |
Fee details and sources
Other fees
- Stand-alone financial planning
- Financial planning engaged as a stand-alone consulting engagement is billed at a fixed or hourly fee: hourly fees are generally up to $300 an hour and fixed fees up to $20,000, negotiable.
John Guarino owns 75% or more of Covenant Asset Management. The leadership team of Covenant Asset Management includes President John Guarino and Chief Compliance Officer William Cunliffe. It has 11 employees, 8 of them in advisory roles.
Leadership
- John GuarinoPresident and CEO
- William CunliffeChief Compliance Officer and Portfolio Manager
Investment adviser representatives
10 representatives listed in the SEC register as of 9 October 2026.
- Christopher Randall Clark
- Daniel Jude Connolly
- William J. Cunliffe
- David John Guarino
- John C. Guarino
- Dexter Morse
- Gabriel Paul Rowe
- Timothy Wayne Rowe
- Markian Taras Ukrainskyj
- Donald David Weir JR
Staff
- 11 employees
- 8 in advisory functions
- 8 state-registered reps
- 3 insurance agents
- 5 soliciting firms
- Owns 75% or more of Covenant Asset Management, LLC
John Guarino
Control person · since February 1999
Covenant Asset Management’s regulatory assets grew 1.7× from $411M (March 2021) to $693M (March 2026); clients rose from 469 to 665 and employees from 6 to 11.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $693M | 665 | 11 | 4 |
| April 2025 | $624M | 623 | 11 | 4 |
| March 2024 | $494M | 552 | 11 | 1 |
| March 2023 | $417M | 534 | 11 | 1 |
| February 2022 | $491M | 507 | 9 | 1 |
| March 2021 | $411M | 469 | 6 | 1 |
Besides its headquarters, Covenant Asset Management has 3 offices (3 private residences, listed without an address), with 1 listed address in New Jersey.
New Jersey · 1 listed address
- 125 Maple Avenue, ChesterHQ
Contact and registration details
- Legal name
- Covenant Asset Management, LLC
- Headquarters
- 125 Maple Avenue, Chester, NJ 07930
- Website
- covasset.com
- Phone
- 908-879-4090
- @covenant-asset-management
- SEC file
- 801-56296
- Founded
- 1999
- Structure
- New Jersey LLC
- Fiscal year end
- December
Covenant Asset Management uses Charles Schwab ($685M) as custodian for its separately managed accounts. Covenant Asset Management does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $685M100%
At year end, Covenant Asset Management’s separately managed accounts were mostly in stocks (69%) and funds (13%). Its reported 13F holdings for the quarter ended 30 June 2026 total $595M across 164 positions; the largest are Nvidia Corporation (7.9%), Microsoft Corp. (4.1%) and Apple Inc. (3.9%).
What the accounts hold
- Stocks69%
- Funds13%
- Bonds4%
- U.S. government and agency bonds3%
- Investment grade corporate bonds1%
- Cash10%
- Other4%
- Derivatives3%
- Master limited partnerships, reits1%
Reported 13F holdings
- $595M
- Reported 13F value
- 164
- Positions
- 37.7%
- In the 10 largest
- −10.5%
- Value vs. prior quarter
- Nvidia Corporation7.9%
- Microsoft Corp.4.1%
- Apple Inc.3.9%
- KLA Corp.3.7%
- Broadcom Inc.3.4%
- GE Vernova Inc.3.2%
- Amazon Com Inc.3.1%
- Quanta Svcs Inc.3.0%
- ASML Hldg NV · N Y Registry Shs2.8%
- Alphabet Inc. · Cap Stk CL A2.6%
Together, the ten largest are 37.7% of reported value.
How many clients does Covenant Asset Management have?
Covenant Asset Management has 665 clients and manages $693 million for them, as of March 2026. They include 412 high-net-worth individuals, 231 individual clients, and 11 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 19 March 2026
What services does Covenant Asset Management offer?
Covenant Asset Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, and insurance.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Covenant Asset Management charge?
Covenant Asset Management charges 0.50%–1.25% a year for its Covenant Asset Management Standard Annual Fee Schedule. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
Which custodians does Covenant Asset Management use?
Covenant Asset Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $685M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 19 March 2026
How many financial advisors does Covenant Asset Management have?
Covenant Asset Management has 8 investment adviser representatives registered with state securities authorities, out of 11 employees, and 8 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 3 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Covenant Asset Management invest in?
At the end of its last fiscal year, Covenant Asset Management’s separately managed accounts held 69% exchange-traded equities, 13% registered funds (mutual funds, ETFs, BDCs), 10% cash and equivalents, 3% U.S. government and agency bonds, 3% derivatives, 1% investment grade corporate bonds and 1% other. The 1% other category is described as: Master Limited Partnerships, Reits.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Covenant Asset Management?
Covenant Asset Management’s direct owner is John Guarino (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 19 March 2026
How does Covenant Asset Management get paid?
Covenant Asset Management is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Covenant Asset Management?
Covenant Asset Management’s main office is at 125 Maple Avenue, Chester, NJ 07930. Its phone number is 908-879-4090. Its website is covasset.com.