Feltl Advisors

What Feltl Advisors does

Feltl Advisors is the SEC-registered investment advisory subsidiary of Feltl and Company, a private, family-owned financial services firm headquartered in Minnetonka, Minnesota. The firm operates three integrated business lines through its Private Client Group and Equity Capital Markets Group: (1) personalized investment advisory and brokerage services for individual investors, including stocks, bonds, mutual funds, managed money programs, retirement and education planning, and insurance products; (2) a regional sales-led distribution model executed via independent-contractor Investment Executives serving clients across Minnesota, Illinois, and Missouri; and (3) investment banking services — IPOs, follow-on offerings, private placements, PIPEs, and bridge loans — focused on emerging growth companies in the Midwest. Revenue is generated from brokerage commissions, fee-based advisory, margin interest (tiered 11.25%-13.00% over a 10.25% base lending rate), account and service fees, and investment banking fees. Operations rely on RBC Correspondent Services for clearing, custody, and the Investor-Connect online account access platform, while research is sourced through third-party providers including Thomson Reuters, S&P Capital IQ, Morningstar, Zacks, Credit Suisse, Stifel Nicolaus, Argus Research, Value Line, and Standard & Poor's. The firm does not accept orders online, marketing is referral-driven, and it explicitly excludes Vermont, Delaware, Maine, and Puerto Rico from its service area.

Feltl and Company was founded in May 2002 by John C. Feltl and Mary Joanne Feltl, continuing the legacy of Jack Feltl, who began in the brokerage industry in 1970 with R.J. Steichen & Company, acquired it in 1986, and grew it to over 200 brokers before its 2000 merger into Miller Johnson Steichen Kinnard (MJSK). Following Jack Feltl's passing in August 2005, his son John C. Feltl serves as CEO and his wife Mary Jo Feltl as President, with Michael B. Schierman as CFO and Mitchell J. Edwards as COO. The firm employs between 11 and 50 people and operates without external institutional ownership or a parent company.

Name

Feltl Advisors

Legal name

Feltl and Company

Website

https://feltladvisors.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

Feltl Advisors is a family-owned, SEC-registered investment advisory firm in Minnetonka, Minnesota, providing personalized brokerage and investment advisory services to individual investors across the Midwest, plus investment banking for emerging growth companies via its Equity Capital Markets Group.

Ownership category

akta.pro rank

Product category

Investment Advisory & Brokerage Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro industry

PRIMARYFSAEABAB

Broker-Dealer Affiliated Wealth Advisory

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Wealth & Retirement Advisory

Keywords

• Investment advisory services
• Stock brokerage services
• Investment banking services
• Wealth management services
• Financial planning services

Headquarters

HQ city

Hopkins

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Brokerage Commissions: Commission-based revenue from buying and selling stocks, bonds, and mutual funds for individual investors.
2. Fee-Based Compensation: Revenue from professional money manager programs and other fee-based compensation arrangements.
3. Investment Banking Fees: Revenue from investment banking services including initial public offerings (IPOs), follow-on public offerings, private placements, PIPEs, and bridge loans for emerging growth companies. Representatives selling private placements receive stock warrants.
4. Margin Interest: Interest earned on margin loans to clients, with rates ranging from 11.25% to 13.00% based on debit balance tier.
5. Service and Account Fees: Various service fees including annual account fees, wire fees, transfer fees, retirement account fees, and safekeeping fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Feltl Advisors is an SEC-registered investment advisory firm that provides personalized investment guidance to individual investors through its Private Client Group, offering tailored portfolio management across stocks, bonds, mutual funds, and fixed income products. Through its parent Feltl and Company, the firm also operates a FINRA-registered broker-dealer and an Equity Capital Markets Group that delivers investment banking services including IPOs, follow-on offerings, private placements, PIPEs, and bridge loans to emerging growth companies in the Midwest.

Product overview

Feltl Advisors operates as a full-service investment advisory firm offering a unified platform of wealth management services. The core offering centers on personalized investment advisory through the Private Client Group, which provides tailored portfolio management across publicly-traded stocks, mutual funds, tax-free municipal bonds, and fixed income products including corporate bonds, high-yield bonds, U.S. Treasuries, and CDs. The firm complements its advisory services with professional money manager programs (fee-based), financial and estate planning, retirement and education planning (401ks, Traditional/Roth IRAs, rollovers, 529 plans), and insurance products (variable/fixed annuities, life insurance). For growth-oriented clients, the Equity Capital Markets Group provides access to investment banking products including IPOs, follow-on offerings, private placements, PIPEs, and bridge loans. Accounts are held and serviced through RBC Correspondent Services clearing relationship, with client access via RBC Investor-Connect online platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Private Client Group
• Equity Capital Markets
• Managed Money Programs
• Financial and Estate Planning
• Insurance and Annuity Products

Quantifiable outcome

• Over 200 brokers at peak (under predecessor Steichen)
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• RBC Correspondent Services (RBC CS)coreTechnology or IntegrationRBC Correspondent Services, a division of RBC Capital Markets, LLC, serves as Feltl's clearing firm. They provide bookkeeping services, receive and distribute cash and securities, hold assets in customer accounts, and perform clearing functions. RBC provides technological systems, programming, and operational capabilities. All Feltl accounts are held at RBC with excess SIPC insurance coverage up to the full value of the account. Customers access accounts online 24 hours a day through RBC's Investor Connect platform.

Scale indicators3 records

Recent moves9 records

Expansion highlights3 records

Direct peers

• Mesirow Financial: Chicago-based independent financial services firm offering investment banking, wealth management, and capital markets services to mid-market clients. Comparable as a Midwest-headquartered mid-market broker-dealer and investment bank.
• D.A. Davidson: Employee-owned regional broker-dealer and investment bank headquartered in the Pacific Northwest with comparable focus on individual investors, wealth management, and capital markets for mid-market and growth companies. Closest peer in business model and scale.
• Hilltop Securities: Mid-sized broker-dealer and investment bank serving individual investors, municipalities, and mid-market issuers. Comparable as a regional full-service firm offering both brokerage and investment banking, with similar geographic concentration in select U.S. regions.
• Northland Securities: Minneapolis-based broker-dealer and investment bank providing equity research, institutional sales, and capital markets services. Comparable Twin Cities peer with similar emerging growth and mid-market investment banking focus.
• Craig-Hallum Capital Group: Minneapolis-based boutique investment bank and institutional broker specializing in emerging growth companies. Highly comparable as a Twin Cities-based firm focused on growth-company capital markets and equity research.

Broad incumbents

• Robert W. Baird & Co. Midwest-headquartered full-service broker-dealer and wealth manager with investment banking capabilities. Directly comparable as a regional full-service firm serving individual investors and emerging growth companies, though significantly larger and more diversified than Feltl.
• Edward Jones: Large U.S. brokerage firm with deep Midwest roots serving individual investors through a regional branch network. Comparable as a relationship-driven broker serving Main Street investors, though substantially larger and without Feltl's emerging growth investment banking focus.
• Stifel Financial: Major U.S. broker-dealer with strong Midwestern heritage and significant mid-market investment banking franchise. Comparable as a full-service broker with active emerging growth capital markets business, though much larger and more diversified than Feltl.
• Piper Sandler: Minneapolis-headquartered investment bank and asset manager with a strong mid-market and emerging growth investment banking franchise. Closest Twin Cities peer in geography and growth-company focus, but operates at substantially larger scale than Feltl.

Regional players

• Wintrust Investments: Chicago-based wealth management and investment services arm of Wintrust Financial Corporation serving the Midwest. Comparable as a regional full-service provider of brokerage and advisory services in Feltl's core geography.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/feltl-advisors

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Feltl Advisors