# FS Credit Income Advisor, LLC

> FS Credit Income Advisor, LLC is an SEC-registered investment advisory firm in Philadelphia, PA, registered since 2017, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated June 10, 2026.

- CRD: 289579
- Filed as: FS CREDIT INCOME ADVISOR, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Philadelphia, PA
- Filing period: October 2026
- Form ADV filing dated: June 10, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/289579
- AdvisorCensus page: https://advisorcensus.com/firm/fs-credit-income-advisor-llc-philadelphia-pa-289579

## Quick answers

**How is FS Credit Income Advisor, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), FS Credit Income Advisor, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is FS Credit Income Advisor, LLC located?**
FS Credit Income Advisor, LLC's principal office is in Philadelphia, PA, according to its Form ADV; the July 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is FS Credit Income Advisor, LLC registered with the SEC or a state?**
FS Credit Income Advisor, LLC is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 289579.

**How much does FS Credit Income Advisor, LLC manage?**
FS Credit Income Advisor, LLC reports $726,176,000 in regulatory assets under management in its Form ADV filing dated June 10, 2026 (100% discretionary).

**How have FS Credit Income Advisor, LLC's assets and staff changed since 2021?**
In the Form ADV data for FS Credit Income Advisor, LLC: Regulatory assets under management: $365,656,004 in the October 2021 data and $726,176,000 in the October 2026 data, up 99%. Total employees: 92 in October 2021 and 183 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does FS Credit Income Advisor, LLC serve?**
By number of clients on Form ADV Item 5.D: investment companies (1).

**Does FS Credit Income Advisor, 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/289579

**What changed in FS Credit Income Advisor, LLC's recent Form ADV filings?**
In the July 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $726,176,000
- Discretionary: $726,176,000
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 1 | $726,176,000 |

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

### Firm details
- Registered since: 2017 (9 years)
- Employees: 183 total, 31 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NY, PA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the July 2026 filing
- New York, NY

### Websites listed on Form ADV (Item 1.I)
- [fsco.futurestandard.com](https://fsco.futurestandard.com)
- [fscreit.com](https://fscreit.com)
- [fskkrcapitalcorp.com](https://fskkrcapitalcorp.com)
- [fsproxy.com](https://fsproxy.com)
- [fssl.futurestandard.com](https://fssl.futurestandard.com)
- [futurestandard.com](https://futurestandard.com)
- [music.amazon.com/podcasts/8e15a78f-46f8-4204-bfb5-40a49123a106/fireside-a-podcast-series-from-future-standard](https://music.amazon.com/podcasts/8e15a78f-46f8-4204-bfb5-40a49123a106/fireside-a-podcast-series-from-future-standard)
- [open.spotify.com/show/1bNRLpYa1luvcEyTA8AtMc](https://open.spotify.com/show/1bNRLpYa1luvcEyTA8AtMc)
- [player.fm/series/fireside-a-podcast-series-from-future-standard](https://player.fm/series/fireside-a-podcast-series-from-future-standard)
- [podcastaddict.com/podcast/fireside-a-podcast-series-from-future-standard/3323566](https://podcastaddict.com/podcast/fireside-a-podcast-series-from-future-standard/3323566)
- [podcastindex.org/podcast/2757367](https://podcastindex.org/podcast/2757367)
- [podcasts.apple.com/us/podcast/fireside-a-podcast-series-from-future-standard/id1561214982](https://podcasts.apple.com/us/podcast/fireside-a-podcast-series-from-future-standard/id1561214982)
- Facebook @fsfuturestandard
- Instagram @futurestandardfs
- LinkedIn @FUTURESTANDARDFS
- LinkedIn @portfolio-advisors
- LinkedIn @michael-forman
- LinkedIn @troy-a-gayeski-cfa-720366197
- X @MichaelFormanFS
- X @TroyGayeski
- X @futurestandard
- YouTube @

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $365,656,004 | 92 | July 6, 2021 |
| October 2022 | $527,993,686 | 100 | March 15, 2022 |
| October 2023 | $578,999,783 | 100 | July 22, 2023 |
| October 2024 | $812,879,343 | 107 | April 30, 2024 |
| October 2025 | $709,131,443 | 149 | March 27, 2025 |
| October 2026 | $726,176,000 | 183 | June 10, 2026 |

Regulatory assets under management: $365,656,004 in the October 2021 data and $726,176,000 in the October 2026 data, up 99%.
Total employees: 92 in October 2021 and 183 in October 2026.

## Changes in the filing (last 12 months)

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

### April 2026
- Employees performing advisory functions went from 27 to 31.
- Registered or notice-filed in NY.
- Updated its list of owners and control persons (Schedule A).

### 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. FS Credit Income Advisor, LLC (CRD 289579): Form ADV filing data as of October 2026.