Feltl Advisors, Llc

Allegations: IN ITS JUNE 11, 2021 ORDER INSTITUTING ADMINISTRATIVE PROCEEDINGS THE SEC FOUND THAT; 1.FELTL ADVISORS, LLC ("FA"), A REGISTERED INVESTMENT ADVISER, BREACHED ITS FIDUCIARY DUTY IN CONNECTION WITH THE MUTUAL FUNDS IT RECOMMENDED FOR CLIENTS THAT RESULTED IN CERTAIN FINANCIAL BENEFITS FOR FELTL'S AFFILIATED BROKER. 2.FROM JANUARY 2015 TO JUNE 2018, FA ALSO BREACHED ITS FIDUCIARY DUTY TO CLIENTS BY FAILING TO DISCLOSE THAT CLIENTS IN ONE OF FA'S "WRAP FEE" PROGRAMS INCURRED TICKET CHARGES ON CERTAIN TRANSACTIONS AND THE CONFLICT OF INTEREST CREATED BECAUSE ITS AFFILIATED BROKER RECEIVED A PORTION OF THOSE TICKET CHARGES. 3.FA FAILED TO ADOPT AND IMPLEMENT WRITTEN COMPLIANCE POLICIES AND PROCEDURES REASONABLY DESIGNED TO PREVENT VIOLATIONS OF THE ADVISERS ACT AND THE RULES THEREUNDER. FA CONSENTED TO THE ENTRY OF THE ORDER, WITHOUT ADMITTING OR DENYING THE SEC FINDINGS. Status: Final Sanction Detail: FELTL ADVISORS, LLC ("FA") IS HEREBY ORDERED TO CEASE AND DESIST, IS CENSURED AND PAY DISGORGEMENT, PREJUDGEMENT INTEREST AND A CIVIL PENALTY OF $333,971. FA DEPOSITIED $333,971 INTO THE FAIR FUND ON 6/21/2021. Summary: ON JUNE 11, 2021 FELTL ADVISORS, LLC ("FA") RESOLVED A MATTER WITH THE SEC, IN AN ORDER INSTITUTING ADMINISTRATIVE PROCEEDINGS. FA CONSENTED TO THE ENTRY OF THE ORDER, WITHOUT ADMITTING OR DENYING THE SEC FINDINGS AND THE ORDER FULLY RESOLVED ALL ALLEGATIONS AGAINST FA. UNDER THE TERMS OF THE ORDER, A FAIR FUND WAS ESTABLISHED FOR IMPACTED CUSTOMERS AND FA DEPOSITED $333,971 IN THE FAIR FUNDS ACCOUNT ON 6/21/2021. FA IS IN PROCESS OF WORKING THROUGH ADMINISTRATING THE FAIR FUND.