Effective Date: May 1, 2026 · Last Updated: May 1, 2026
Investment Adviser Registration
Ethical Capital LLC is a state-registered investment adviser in Utah. Registration does not imply a certain level of skill or training. Detailed information is available in our Form ADV Part 2.
Risk Disclosures
General Investment Risk
All investments involve the risk of loss, including the permanent loss of principal. Past performance is not indicative of future results. No strategy can guarantee returns or eliminate risk in any market environment.
Strategy-Specific Risks
Concentration risk: Our flagship Growth Strategy typically holds 15–25 securities. This concentration results in higher price volatility than a diversified index fund. The performance of individual holdings has a disproportionate impact on overall results.
Ethical screening risk: Our screening framework excludes a substantial portion of the S&P 500 (current figures are updated quarterly on our homepage). This narrows the investable universe and may cause our performance to diverge significantly — favorably or unfavorably — from broad market benchmarks. Sector exposures will differ materially from unscreened indices.
Liquidity risk: Concentrated positions or specific security types may become difficult to sell at fair prices during periods of extreme market stress.
Exclusions Database
Ethical Capital publishes its exclusion list and related screening methodology for educational and transparency purposes. Companies appear on our exclusion list based on our investment judgment — not because they have done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing.
Exclusion does not constitute a recommendation against investing in any company. Absence from the exclusion list does not constitute a recommendation to invest. Data is drawn from independent watchdog organizations, non-governmental organizations, government registries, and Ethical Capital’s ongoing research. Companies may update their practices, and exclusion determinations may change as new information becomes available.
Information in the exclusions database is provided “as is” for informational purposes only and should not be relied upon as investment advice. For a complete list of research sources, see the Research Sources section of the exclusions database.
Performance Reporting
Performance figures presented on this website reflect the actual results of representative fee-paying client accounts. These results may not reflect the experience of every client due to differences in inception dates, cash flows, and individual fee schedules. For detailed information on our calculation methods, see our Performance Methodology page.
Fee Disclosures
Advisory fee: We charge a standard 1% annual advisory fee, deducted quarterly in advance.
Third-party costs: Clients incur additional costs not paid to Ethical Capital, including custodial fees (Altruist; or Schwab, for clients whose assets are custodied at Schwab through an independent adviser), transaction costs, and expense ratios for any external funds held in the Income or Diversification strategies.
Conflicts of Interest
Personal trading: Sloane Ortel is the firm’s only employee. She invests her personal assets in the same model strategies as clients. She receives no preference; her personal trades are part of the same block trades as client accounts in those strategies. Personal trading is governed by our Code of Ethics; see Form ADV Part 2A Items 11 and 14 for additional detail.
No commissioned products: We do not receive commissions, “kickbacks,” or 12b-1 fees from any security or fund provider.
Custody and Assets
Client assets are held by Altruist Financial LLC and Charles Schwab & Co., Inc., both qualified custodians. Ethical Capital maintains limited power of attorney to manage investments but does not have physical custody of client funds or securities.
Use of Technology
Artificial Intelligence
Ethical Capital uses artificial intelligence and machine learning tools in certain aspects of its operations, which may include research assistance, data analysis, document drafting, content creation, and other business functions. All AI-assisted work product that materially affects client accounts, investment recommendations, or client communications is subject to human review and oversight by qualified personnel. AI tools are not used to make autonomous investment decisions.
Our use of AI tools is governed by an internal AI Use Policy and is subject to our compliance program. We evaluate AI tools for accuracy, security, and appropriateness before deployment. Where AI tools process client information, we maintain appropriate confidentiality protections and vendor agreements as described in our Privacy Policy.
We do not make claims about AI capabilities that exceed the actual role these tools play in our operations.
Client meetings are recorded by default for SEC Rule 204-2 recordkeeping. Before recording begins, every participant is asked to affirm consent on-record. Clients in two-party-consent jurisdictions (including California, Delaware, Florida, Illinois, Maryland, Massachusetts, Montana, Nevada, New Hampshire, Pennsylvania, and Washington) may decline; we will conduct the meeting without recording and document that election in the client file. Clients may also withdraw consent for any future meeting by emailing hello@ethicic.com.
Calls placed to the firm’s business line are routed through Vonage and may be recorded and transcribed using AI tools (DeepInfra Voxtral) for recordkeeping under SEC Rule 204-2. The voicemail greeting is delivered using an AI-synthesized voice produced by ElevenLabs; no caller audio is processed by the voice-synthesis vendor. Callers who prefer not to leave a recorded message may email hello@ethicic.com.
We may use AI services from time to time to process inbound and outbound business email — currently including Anthropic, Cloudflare Workers AI, and DeepInfra, and other providers we may engage. Vendors may change without notice; the current AI vendor list is available on request to privacy@ethicic.com. Personally identifying information is redacted from prompts where feasible. No email is sent automatically without human review.
TICK scores and exclusion designations reflect Ethical Capital’s investment opinion based on publicly available information and our values-based criteria. They are statements of opinion, not statements of fact about any company’s legal compliance, financial condition, or future prospects.
Client Portal
Ethical Capital offers a client portal for the convenience of advisory clients. The portal is designed to coordinate the client relationship and may link to third-party platforms, including our qualified custodian(s), for account-specific information. Portal data is not a substitute for official custodian records. The portal is subject to the terms described in our Terms of Use and Privacy Policy.
Social Media
Ethical Capital and its personnel may maintain a presence on social media platforms for educational and informational purposes. Social media posts are not personalized investment advice and should not be relied upon as a basis for investment decisions. Social media content is subject to the same regulatory requirements as other communications by investment advisers and is archived in accordance with applicable recordkeeping rules.
We do not solicit, adopt, or endorse client testimonials or endorsements on social media. If you post a comment about Ethical Capital on a social media platform, we may respond to acknowledge your comment, but such a response does not constitute adoption or endorsement of your statement.
Electronic Signatures and Records
Advisory clients execute documents electronically through our electronic signature platform. Clients provide their consent to electronic signatures and electronic records delivery as part of the onboarding process, in accordance with the E-SIGN Act (15 U.S.C. §7001) and the Utah Uniform Electronic Transactions Act (Utah Code §46-4-101 et seq.). Clients may withdraw consent to electronic delivery at any time and request paper copies of any document at no charge. See our Terms of Use for additional information.
Contact Information
Ethical Capital LLC Provo, UT Phone: +1 347 625 9000 Email: hello@ethicic.com
Ethical Capital LLC is a state-registered investment adviser registered with the Utah Division of Securities. Registration does not imply a certain level of skill or training. The information on this website is for informational purposes only and does not constitute investment advice. All investing involves risk, including the possible loss of principal. Past performance is not indicative of future results.
Last updated: May 1, 2026