# AFC Management, LLC

> AFC Management, LLC is an SEC-registered investment advisory firm in West Palm Beach, FL, registered since 2021, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 311281
- Filed as: AFC MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: West Palm Beach, FL
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/311281
- AdvisorCensus page: https://advisorcensus.com/firm/afc-management-llc-west-palm-beach-fl-311281

## Quick answers

**How is AFC Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), AFC Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**How much does AFC Management, LLC charge?**
Its Form ADV Part 2A brochure dated March 28, 2025 states: Asset-based fee: 0.375% of assets a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is AFC Management, LLC located?**
AFC Management, LLC's principal office is in West Palm Beach, FL, according to its Form ADV.

**Is AFC Management, LLC registered with the SEC or a state?**
AFC Management, LLC is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 311281.

**How much does AFC Management, LLC manage?**
AFC Management, LLC reports $275,834,956 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have AFC Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for AFC Management, LLC: Regulatory assets under management: $107,464,655 in the October 2021 data and $275,834,956 in the October 2026 data, up 157%. Total employees: 15 in October 2021 and 32 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does AFC Management, LLC serve?**
By number of clients on Form ADV Item 5.D: business development companies (1).

**Does AFC Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/311281

**What changed in AFC Management, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 6 to 11. Regulatory assets under management went from $402,130,041 to $275,834,956 (-31%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 28, 2025)

- Asset-based fee: 0.375% of assets a year

> AFC shall pay AFCM a management fee (the "Base Management Fee") of an amount equal to 0.375% of AFC’s equity, determined as of the last day of each quarter.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $275,834,956
- Discretionary: $275,834,956
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Business development companies | 1 | $275,834,956 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)

### Firm details
- Registered since: 2021 (5 years)
- Employees: 32 total, 11 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- advancedflowercapital.com
- LinkedIn @advancedflowercapital

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $107,464,655 | 15 | March 31, 2021 |
| October 2022 | $495,740,768 | 25 | March 31, 2022 |
| October 2023 | $533,319,020 | 20 | April 26, 2023 |
| October 2024 | $467,198,726 | 20 | March 29, 2024 |
| October 2025 | $402,130,041 | 6 | March 28, 2025 |
| October 2026 | $275,834,956 | 32 | March 31, 2026 |

Regulatory assets under management: $107,464,655 in the October 2021 data and $275,834,956 in the October 2026 data, up 157%.
Total employees: 15 in October 2021 and 32 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 6 to 11.
- Regulatory assets under management went from $402,130,041 to $275,834,956 (-31%).

### February 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. AFC Management, LLC (CRD 311281): Form ADV filing data as of October 2026.