Covington Investment Advisors, Inc.
- Regulatory AUM
- $886M
- Discretionary
- $855M
- Clients
- 236
- Avg AUM / client
- $3.8M
- Accounts
- 639
- Employees
- 8
AUM over time
Reported AUM from Form ADV filings, plotted by filing date · as of Feb 26, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 141 | $58.0M | 6.55% |
| High net worth individuals | 74 | $573M | 64.6% |
| Pension and profit sharing plans | 5 | $32.8M | 3.7% |
| Charitable organizations | 13 | $216M | 24.4% |
| Corporations and other businesses | 3 | $6.1M | 0.69% |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Xodus Medical Inc 401(k) Plan Xodus Medical, Inc. | 2024 |
People (5)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Patrick R. Wallace | President | May 2003 (23y) | Less than 5% | |
| Cindy Jones | Chief Compliance Officer | Jul 2012 (14y) | Less than 5% | |
| Nick Michael Allen | Registered representative | Oct 2020 (6y) | ||
| Colten Mc Cutcheon | Registered representative | Oct 2025 (1y) | ||
| Jacob Devlin | Registered representative | Feb 2026 (1y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| The Patrick R. Wallace Revocable Trust, Dtd | Owner | Aug 2016 | A | 75% or more |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Retirement plans served (1)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Xodus Medical Inc 401(k) Plan | Xodus Medical, Inc. | 152 | $18.0M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 02/26/2026 | 921 KB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for businesses/institutional clients
- • Pension consulting services
Custody
Reported custodians
- Charles Schwab & Co. $886M (100% of AUM) Feb 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Feb 26, 2026.
View current Form ADV (SEC/IAPD) ↗