Jacksonville, FL Office

Feltl Advisors is an SEC-registered investment adviser managing approximately $165 million with a 15-advisor team that serves roughly 395 clients, predominantly individual investors. The firm offers financial planning and portfolio management through wrap-fee advisory programs delivered via its clearing relationship with RBC, including the RBC Advisor, Consulting Solutions, and RBC Unified Portfolio programs.

Feltl generally operates on a non-discretionary basis: clients select a Risk Profile and advisors propose an account program and specific investments or approved RBC Program Managers, with clients retaining final approval of trades and allocations. Although certain RBC Program Managers exercise investment discretion within their mandates, Feltl does not accept discretionary authority for client accounts and requires trading through its clearing broker.

Distinctive features include the firm’s primarily non-discretionary asset base, which is uncommon among multi-advisor firms, and a client mix that does not emphasize high-net-worth households. The brochure discloses an affiliated broker-dealer (Feltl & Company) relationship that can create revenue-sharing around cash sweep products and other conflicts, and it documents prior SEC enforcement actions (including disgorgement, prejudgment interest, and civil penalties) that the firm says it addresses through training, supervisory review, and compliance controls.