Novak & Powell Financial Services provides portfolio management for individuals and small businesses, financial planning, tax planning, and tax preparation.
Novak & Powell Financial Services reports 426 individuals. Of its assets, 100.0% ($359M across 945 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 100% | 100% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 426 | $359M | 100.0% | $844K |
| Total | 426 | $359M | 100% | $844K |
- Clients
- 426
- Regulatory AUM
- $359M
- AUM share
- 100.0%
- Avg. per client
- $844K
Total
- Clients
- 426
- Regulatory AUM
- $359M
- AUM share
- 100%
- Avg. per client
- $844K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Novak & Powell Financial Services charges 1.25%–2.25% a year for its Investment Advisory Fee. The fee is billed in advance or in arrears. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Tax Preparation
- Tax preparation fees are billed separately from the investment advisory fee; the brochure states no rate.
David Novak owns 50% to 75% of Novak & Powell Financial Services. The leadership team of Novak & Powell Financial Services includes Chief Compliance Officer David Novak. It has 7 employees.
Leadership
- David NovakPrincipal, Chief Compliance Officer
- Joshua PowellPrincipal
Investment adviser representatives
8 representatives listed in the SEC register as of 9 October 2026.
- Terry Ray Carr
- Samuel Douglas Cornell III
- Gregg Stephen Ducatte
- Eric Quinten Giesler
- Alan Keith Goldfarb
- David William Novak
- Joshua D Powell
- Belinda Jean Sheffield
Staff
- 7 employees
- 7 in advisory functions
- 7 state-registered reps
- Owns 50% to 75% of Novak & Powell Financial Services, Inc.
David Novak
Control person · since September 2013
- Owns 50% to 75% of Novak & Powell Financial Services, Inc.
Joshua Powell
Control person · since September 2013
Novak & Powell Financial Services’ regulatory assets grew 1.5× from $239M (March 2021) to $359M (March 2026); clients rose from 265 to 426 and employees from 6 to 7.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $359M | 426 | 7 | 5 |
| March 2025 | $334M | 442 | 8 | 5 |
| March 2024 | $306M | 436 | 8 | 5 |
| March 2023 | $256M | 459 | 10 | 4 |
| March 2022 | $296M | 437 | 9 | 4 |
| March 2021 | $239M | 265 | 6 | 2 |
Besides its headquarters, Novak & Powell Financial Services has 4 offices (1 private residence, listed without an address), with 4 listed addresses in Arizona, Colorado and Florida.
Florida · 2 listed addresses
- 146 Second St N, Suite 310, St. PetersburgHQ
- 14385 Walsingham Road, Largo
Arizona · 1 listed address
- 5131 E 9th Street, Tucson
Colorado · 1 listed address
- 1942 Broadway, Boulder
Other business names
Novak & Powell Financial Services has reported 3 other business names to the SEC.
- Carr Capital Management
- Gates & Powell Financial Services, Inc.
- Gates Financial Services, Inc
Contact and registration details
- Legal name
- Novak & Powell Financial Services, Inc.
- Headquarters
- 146 Second St N, Suite 310, St. Petersburg, FL 33701
- Website
- novakpowell.com
- Phone
- 727-451-3440
- SEC file
- 801-108964
- Structure
- Florida corporation
- Fiscal year end
- December
Novak & Powell Financial Services uses Raymond James ($311M, 87%) and Charles Schwab ($48.5M, 13%) as custodians for its separately managed accounts. Novak & Powell Financial Services has custody of $4.19M in client assets for 1 client.
- Raymond JamesRaymond James & Associates, Inc. · Saint Petersburg, FL · $311M87%
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $48.5M13%
At year end, Novak & Powell Financial Services’ separately managed accounts were largely in stocks (43%) and funds (39%). Its reported 13F holdings for the quarter ended 30 June 2026 total $212M across 171 positions; the largest are Invesco Qqq TR (7.1%), Vanguard Growth ETF (6.5%) and Apple Inc. (5.3%).
What the accounts hold
- Stocks43%
- Funds39%
- Bonds10%
- Investment grade corporate bonds7%
- U.S. government and agency bonds3%
- Cash8%
Reported 13F holdings
- $212M
- Reported 13F value
- 171
- Positions
- 38.5%
- In the 10 largest
- +14.3%
- Value vs. prior quarter
- Invesco Qqq TR7.1%
- Vanguard Growth ETF · Growth ETF6.5%
- Apple Inc.5.3%
- Vanguard Large-cap ETF · Large Cap ETF4.6%
- State Street SPDR S&P 500 ETF Trust · TR Unit3.6%
- Vanguard Value ETF · Value ETF2.8%
- Vanguard Total World Stock ETF · TT Wrld ST ETF2.5%
- Berkshire Hathaway Class B2.1%
- Microsoft Corp.2.0%
- Vanguard Dividend Appreciation ETF · Div App ETF1.9%
Together, the ten largest are 38.5% of reported value.
How many clients does Novak & Powell Financial Services have?
Novak & Powell Financial Services has 426 clients and manages $359 million for them, as of March 2026. They include 426 individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 22 March 2026
What services does Novak & Powell Financial Services offer?
Novak & Powell Financial Services provides portfolio management for individuals and small businesses, financial planning, tax planning, and tax preparation.
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 Novak & Powell Financial Services charge?
Novak & Powell Financial Services charges 1.25%–2.25% a year for its Investment Advisory Fee. The fee is billed in advance or in arrears.
Source: NOVAK & POWELL FINANCIAL SERVICES, INC. DISCLOSURE BROCHURE, filed 22 March 2026
Which custodians does Novak & Powell Financial Services use?
Novak & Powell Financial Services’ separately managed account assets are held at Raymond James & Associates, Inc. (Saint Petersburg, FL), with $311M and Charles Schwab & Co., Inc. (San Francisco, CA), with $48.5M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 22 March 2026
How many financial advisors does Novak & Powell Financial Services have?
Novak & Powell Financial Services has 7 investment adviser representatives registered with state securities authorities, out of 7 employees, and 7 perform investment advisory functions. None are registered representatives of a broker-dealer or 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 Novak & Powell Financial Services invest in?
At the end of its last fiscal year, Novak & Powell Financial Services’ separately managed accounts held 43% exchange-traded equities, 39% registered funds (mutual funds, ETFs, BDCs), 8% cash and equivalents, 7% investment grade corporate bonds and 3% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Novak & Powell Financial Services?
Novak & Powell Financial Services’ direct owners are David Novak (50% to 75%) and Joshua Powell (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 22 March 2026
How does Novak & Powell Financial Services get paid?
Novak & Powell Financial Services is paid through a percentage of assets under management. 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
Is Novak & Powell Financial Services registered with the SEC?
Yes, Novak & Powell Financial Services has been registered with the SEC as an investment adviser since 24 January 2017. Its CRD number is 112970 and its SEC file number is 801-108964.
Source: Form ADV Part 1A, Item 1, filed 22 March 2026; IAPD firm record
How do I contact Novak & Powell Financial Services?
Novak & Powell Financial Services’ main office is at 146 Second St N, Suite 310, St. Petersburg, FL 33701. Its phone number is 727-451-3440. Its website is novakpowell.com.