Petra Financial Advisors provides financial planning, portfolio management for individuals and small businesses, pension consulting, business succession planning, education planning, estate planning, philanthropic planning, and tax planning. Financial planning was provided to 51–100 clients last fiscal year.
Petra Financial Advisors reports 378 clients. They include 255 individual clients and 123 high-net-worth individuals. Of its assets, 100.0% ($447M across 1,171 accounts) are managed with discretion. Of its clients, 1% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 67% | 21% |
| High-net-worth individuals | 33% | 78% |
| Pension and profit-sharing plans | Fewer than 5 | 1% |
| Charitable organizations | Fewer than 5 | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 255 | $93.4M | 20.9% | $366K |
| High-net-worth individuals | 123 | $347M | 77.6% | $2.82M |
| Pension and profit-sharing plans | Fewer than 5 | $6.27M | 1.4% | — |
| Charitable organizations | Fewer than 5 | $450K | 0.1% | — |
| Total | 378 | $447M | 100% | — |
- Clients
- 255
- Regulatory AUM
- $93.4M
- AUM share
- 20.9%
- Avg. per client
- $366K
- Clients
- 123
- Regulatory AUM
- $347M
- AUM share
- 77.6%
- Avg. per client
- $2.82M
- Clients
- Fewer than 5
- Regulatory AUM
- $6.27M
- AUM share
- 1.4%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $450K
- AUM share
- 0.1%
- Avg. per client
- —
Total
- Clients
- 378
- Regulatory AUM
- $447M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 51–100
Petra Financial Advisors charges 0.40%–2.00% for its Investment Management Services. The brochure does not state whether the rate is annual. The fee is billed in advance or in arrears. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Lifetime Financial Planning
- The plan development fee is estimated at the end of fact-finding and guaranteed within 15%. The minimum is $8,000, paid in quarterly installments over one year. Ongoing reviews are included in the investment management fee.
- Special projects
- Fixed fees from $1,500 to $50,000, negotiable based on the nature and complexity of the services. $1,000 is due at signing, then $2,000 quarterly.
Jonathan Forbes owns 50% to 75% of Petra Financial Advisors. The leadership team of Petra Financial Advisors includes President Jonathan Forbes and Chief Compliance Officer Crystal Karstens. It has 15 employees, 7 of them in advisory roles.
Staff
- 15 employees
- 7 in advisory functions
- 7 state-registered reps
- 3 insurance agents
- Owns 50% to 75% of Petra Financial Advisors Inc
Jonathan Forbes
Control person · since July 2019
- Owns 25% to 50% of Petra Financial Advisors Inc
Justin Ross
Control person · since October 2024
Petra Financial Advisors’ regulatory assets grew 2.6× from $174M (April 2021) to $447M (March 2026); clients rose from 133 to 378 and employees from 8 to 15.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $447M | 378 | 15 | 3 |
| Mar 2025March 2025 | $388M | 359 | 14 | 3 |
| Jul 2024July 2024 | $357M | 381 | 13 | 3 |
| Apr 2023April 2023 | $306M | 301 | 11 | 2 |
| Mar 2022March 2022 | $249M | 160 | 8 | 1 |
| Apr 2021April 2021 | $174M | 133 | 8 | 1 |
Besides its headquarters, Petra Financial Advisors has 2 offices, with 3 listed addresses across 2 states.
Colorado · 2 listed addresses
- 2 North Nevada Ave Suite 1300, Colorado SpringsHQ
- 12295 Oracle BLVD., Colorado Springs
Arizona · 1 listed address
- 2181 E. Warner RD, Tempe
Other business names
Petra Financial Advisors has reported 1 other business name to the SEC.
- Lighthouse Financial, LLC
Contact and registration details
- Legal name
- Petra Financial Advisors Inc
- Headquarters
- 2 North Nevada Ave Suite 1300, Colorado Springs, CO 80903-1626
- Website
- petrafinancial.com
- Phone
- 719-636-9000
- SEC file
- 801-39169
- Structure
- Colorado corporation
- Fiscal year end
- December
Petra Financial Advisors’ named custodians for separately managed accounts are Charles Schwab ($238M, 57%), Fidelity ($92.8M, 22%) and SEI Investments Distribution ($89.2M, 21%). Petra Financial Advisors has custody of $242M for 411 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $238M57%
- SEI Investments DistributionSEI Investments Distribution Co. · Oaks, PA · $89.2M21%
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $92.8M22%
At year end, Petra Financial Advisors’ separately managed accounts were largely in funds (46%) and stocks (36%). Its reported 13F holdings for the quarter ended 30 June 2026 total $216M across 168 positions; the largest are J P Morgan Exchange Traded F (6.9%), iShares TR (5.0%) and Fidelity Covington Trust (4.8%).
What the accounts hold
- Stocks36%
- Funds46%
- Registered funds45%
- Pooled vehicles1%
- Bonds6%
- State and local bonds4%
- U.S. government and agency bonds1%
- Investment grade corporate bonds1%
- Cash9%
- Other3%
- Annuities, oil and gas, lp equities.3%
How many clients does Petra Financial Advisors have?
Petra Financial Advisors has 378 clients and manages $447 million for them, as of March 2026. They include 255 individual clients and 123 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 2 March 2026
What services does Petra Financial Advisors offer?
Petra Financial Advisors provides financial planning, portfolio management for individuals and small businesses, pension consulting, business succession planning, education planning, estate planning, philanthropic planning, and tax planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Petra Financial Advisors charge?
Petra Financial Advisors charges 0.40%–2.00% for its Investment Management Services. The brochure does not state whether the rate is annual. The fee is billed in advance or in arrears.
Which custodians does Petra Financial Advisors use?
Petra Financial Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $238M, Fidelity Brokerage Services LLC (Smithfield, RI), with $92.8M and SEI Investments Distribution Co. (Oaks, PA), with $89.2M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 2 March 2026
How many financial advisors does Petra Financial Advisors have?
Petra Financial Advisors has 7 investment adviser representatives registered with state securities authorities, out of 15 employees, and 7 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 3 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Petra Financial Advisors invest in?
At the end of its last fiscal year, Petra Financial Advisors’ separately managed accounts held 45% registered funds (mutual funds, ETFs, BDCs), 36% exchange-traded equities, 9% cash and equivalents, 4% state and local bonds, 3% other, 1% U.S. government and agency bonds, 1% investment grade corporate bonds and 1% pooled vehicles (private funds and similar). The 3% other category is described as: Annuities, Oil and Gas, LP Equities.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Petra Financial Advisors?
Petra Financial Advisors’ direct owners are Jonathan Forbes (50% to 75%) and Justin Ross (25% to 50%).
Source: Form ADV Part 1A, Schedules A and B, filed 2 March 2026
How does Petra Financial Advisors get paid?
Petra Financial Advisors is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Petra Financial Advisors?
Petra Financial Advisors’ main office is at 2 North Nevada Ave Suite 1300, Colorado Springs, CO 80903-1626. Its phone number is 719-636-9000. Its website is petrafinancial.com.
