{
  "crd_number": 107027,
  "slug": "first-trust-advisors-lp-wheaton-il-107027",
  "primary_business_name": "FIRST TRUST ADVISORS LP",
  "legal_name": "FIRST TRUST ADVISORS LP",
  "dbas": [],
  "city": "Wheaton",
  "state": "IL",
  "country": "United States",
  "cbsa_code": "16980",
  "metro": {
    "cbsa_code": "16980",
    "common_name": "Chicago",
    "msa_name": "Chicago-Naperville-Elgin, IL-IN",
    "path": "/advisors/il/chicago"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1991-10-04",
  "years_registered": 34,
  "period": "2026-10-01",
  "filing_date": "2026-04-30",
  "carried_forward": false,
  "raum_total": 309241000000.0,
  "raum_discretionary": 232689000000.0,
  "raum_non_discretionary": 76552000000.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 542,
  "advisory_employees": 143,
  "client_count_bucket": null,
  "clients_by_type": {
    "charitable": {
      "raum": 1115000000.0,
      "count": 52
    },
    "individuals": {
      "raum": 317000000.0,
      "count": 934
    },
    "investment_companies": {
      "raum": 297508000000.0,
      "count": 1954
    },
    "high_net_worth_individuals": {
      "raum": 4656000000.0,
      "count": 2593
    },
    "pooled_investment_vehicles": {
      "raum": 5051000000.0,
      "count": 80
    },
    "corporations_other_businesses": {
      "raum": 594000000.0,
      "count": 118
    }
  },
  "compensation_types": [
    "other",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "periodicals_newsletters",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 3,
  "states_registered": [
    "AK",
    "AL",
    "AR",
    "AZ",
    "CA",
    "CO",
    "CT",
    "DC",
    "DE",
    "FL",
    "GA",
    "HI",
    "IA",
    "ID",
    "IL",
    "IN",
    "KS",
    "KY",
    "LA",
    "MA",
    "MD",
    "ME",
    "MI",
    "MN",
    "MO",
    "MS",
    "MT",
    "NC",
    "ND",
    "NE",
    "NH",
    "NJ",
    "NM",
    "NV",
    "NY",
    "OH",
    "OK",
    "OR",
    "PA",
    "RI",
    "SC",
    "SD",
    "TN",
    "TX",
    "UT",
    "VA",
    "VT",
    "WA",
    "WI",
    "WV",
    "WY"
  ],
  "websites": [
    "https://ftportfolios.com",
    "https://ftsma.com",
    "https://linkedin.com/COMPANY/FIRST-TRUST",
    "https://x.com/FTPORTFOLIOS",
    "https://youtube.com/USER/@FIRSTTRUSTROI",
    "https://youtube.com/USER/FIRSTTRUSTADVISORS"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/107027",
  "disclosure_items": [
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    },
    {
      "item": "11.E(2)",
      "question": "Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?"
    }
  ],
  "city_as_filed": "WHEATON",
  "url": "https://advisorcensus.com/firm/first-trust-advisors-lp-wheaton-il-107027",
  "display_name": "First Trust Advisors LP",
  "summary": "First Trust Advisors LP is an SEC-registered investment advisory firm in Wheaton, IL, registered since 1991, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated April 30, 2026.",
  "citation": "AdvisorCensus. First Trust Advisors LP (CRD 107027): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees",
    "Other"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Selection of other advisers (including private fund managers)",
    "Publication of periodicals or newsletters"
  ],
  "quick_answers": [
    {
      "q": "How is First Trust Advisors LP compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), First Trust Advisors LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other."
    },
    {
      "q": "Where is First Trust Advisors LP located?",
      "a": "First Trust Advisors LP's principal office is in Wheaton, IL, according to its Form ADV; the May 2026 filing also lists 4 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is First Trust Advisors LP registered with the SEC or a state?",
      "a": "First Trust Advisors LP is an SEC-registered investment advisory firm, registered since 1991. Status as filed: Approved. CRD 107027."
    },
    {
      "q": "How much does First Trust Advisors LP manage?",
      "a": "First Trust Advisors LP reports $309,241,000,000 in regulatory assets under management in its Form ADV filing dated April 30, 2026 (75% discretionary)."
    },
    {
      "q": "How have First Trust Advisors LP's assets and staff changed since 2021?",
      "a": "In the Form ADV data for First Trust Advisors LP: Regulatory assets under management: $171,578,000,000 in the October 2021 data and $309,241,000,000 in the October 2026 data, up 80%. Total employees: 560 in October 2021 and 542 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does First Trust Advisors LP serve?",
      "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (2,593); investment companies (1,954); individuals (other than high net worth individuals) (934)."
    },
    {
      "q": "Which custodians does First Trust Advisors LP use?",
      "a": "First Trust Advisors LP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and National Financial Services LLC as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does First Trust Advisors LP report any disciplinary disclosures?",
      "a": "Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order), and 11.E(2) (self-regulatory organization's finding of a rule violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107027"
    },
    {
      "q": "What changed in First Trust Advisors LP's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 125 to 143. Regulatory assets under management went from $256,328,000,000 to $309,241,000,000 (+21%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 171578000000.0,
      "total_employees": 560,
      "filing_date": "2021-08-25"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 223555000000.0,
      "total_employees": 535,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 190452000000.0,
      "total_employees": 637,
      "filing_date": "2023-09-11"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 210879000000.0,
      "total_employees": 426,
      "filing_date": "2024-09-09"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 256328000000.0,
      "total_employees": 520,
      "filing_date": "2025-04-22"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 309241000000.0,
      "total_employees": 542,
      "filing_date": "2026-04-30"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 125 to 143.",
        "Regulatory assets under management went from $256,328,000,000 to $309,241,000,000 (+21%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    },
    {
      "name": "National Financial Services LLC",
      "name_as_filed": "NATIONAL FINANCIAL SERVICES LLC",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/first-trust-advisors-lp-wheaton-il-107027.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 934,
      "fewer_than_5": false,
      "raum": 317000000.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 2593,
      "fewer_than_5": false,
      "raum": 4656000000.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 1954,
      "fewer_than_5": false,
      "raum": 297508000000.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 80,
      "fewer_than_5": false,
      "raum": 5051000000.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 52,
      "fewer_than_5": false,
      "raum": 1115000000.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 118,
      "fewer_than_5": false,
      "raum": 594000000.0
    }
  ],
  "disclosure_line": "Reports 3 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/107027",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}