{ "crd_number": 167620, "slug": "fs-global-advisor-llc-philadelphia-pa-167620", "primary_business_name": "FS GLOBAL ADVISOR, LLC", "legal_name": "FS GLOBAL ADVISOR, LLC", "dbas": [], "city": "Philadelphia", "state": "PA", "country": "United States", "cbsa_code": "37980", "metro": { "cbsa_code": "37980", "common_name": "Philadelphia", "msa_name": "Philadelphia-Camden-Wilmington, PA-NJ-DE-MD", "path": "/advisors/pa/philadelphia" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2013-07-22", "years_registered": 13, "period": "2026-10-01", "filing_date": "2026-06-10", "carried_forward": false, "raum_total": 3012314711.0, "raum_discretionary": 2810589433.0, "raum_non_discretionary": 201725278.0, "raum_band": "1b_5b", "raum_band_label": "$1 billion to $5 billion", "total_employees": 184, "advisory_employees": 25, "client_count_bucket": null, "clients_by_type": { "other": { "raum": 201725278.0, "count": 4, "description": "SMAS" }, "investment_companies": { "raum": 2158959000.0, "count": 1 }, "pooled_investment_vehicles": { "raum": 651630433.0, "count": 3 } }, "compensation_types": [ "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_businesses_institutional", "portfolio_management_investment_companies", "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "CT", "NY", "PA" ], "websites": [ "https://facebook.com/futurestandard", "https://fscreit.com", "https://fskkrcapitalcorp.com", "https://fsproxy.com", "https://fssl.futurestandard.com", "https://futurestandard.com", "https://instagram.com/futurestandardfs", "https://linkedin.com/company/futurestandardfs", "https://linkedin.com/company/portfolio-advisors", "https://linkedin.com/in/michael-forman", "https://linkedin.com/in/troy-a-gayeski-cfa-720366197", "https://music.amazon.com/podcasts/8e15a78f-46f8-4204-bfb5-40a49123a106/fireside-a-podcast-series-from-future-standard", "https://open.spotify.com/show/1bNRLpYa1luvcEyTA8AtMc", "https://player.fm/series/fireside-a-podcast-series-from-future-standard", "https://podcastaddict.com/podcast/fireside-a-podcast-series-from-future-standard/3323566", "https://podcastindex.org/podcast/2757367", "https://podcasts.apple.com/us/podcast/fireside-a-podcast-series-from-future-standard/id1561214982", "https://x.com/MichaelFormanFS", "https://x.com/TroyGayeski", "https://x.com/futurestandard", "https://youtube.com/@futurestandardfs" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/167620", "city_as_filed": "PHILADELPHIA", "url": "https://advisorcensus.com/firm/fs-global-advisor-llc-philadelphia-pa-167620", "display_name": "FS Global Advisor, LLC", "summary": "FS Global Advisor, LLC is an SEC-registered investment advisory firm in Philadelphia, PA, registered since 2013, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated June 10, 2026.", "citation": "AdvisorCensus. FS Global Advisor, LLC (CRD 167620): 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" ], "advisory_activity_labels": [ "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" ], "quick_answers": [ { "q": "How is FS Global Advisor, LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), FS Global 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." }, { "q": "Where is FS Global Advisor, LLC located?", "a": "FS Global Advisor, LLC's principal office is in Philadelphia, PA, according to its Form ADV; the July 2026 filing also lists 3 other offices (Schedule D, Section 1.F)." }, { "q": "Is FS Global Advisor, LLC registered with the SEC or a state?", "a": "FS Global Advisor, LLC is an SEC-registered investment advisory firm, registered since 2013. Status as filed: Approved. CRD 167620." }, { "q": "How much does FS Global Advisor, LLC manage?", "a": "FS Global Advisor, LLC reports $3,012,314,711 in regulatory assets under management in its Form ADV filing dated June 10, 2026 (93% discretionary)." }, { "q": "How have FS Global Advisor, LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for FS Global Advisor, LLC: Regulatory assets under management: $2,200,040,419 in the October 2021 data and $3,012,314,711 in the October 2026 data, up 37%. Total employees: 130 in October 2021 and 184 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does FS Global Advisor, LLC serve?", "a": "By number of clients on Form ADV Item 5.D: other (4); pooled investment vehicles (other than investment companies and business development companies) (3); investment companies (1)." }, { "q": "Does FS Global Advisor, LLC report any disciplinary disclosures?", "a": "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/167620" }, { "q": "What changed in FS Global Advisor, LLC's recent Form ADV filings?", "a": "In the July 2026 filing data: Updated its list of owners and control persons (Schedule A)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 2200040419.0, "total_employees": 130, "filing_date": "2021-07-02" }, { "period": "2022-10-01", "regulatory_assets_under_management": 2375963000.0, "total_employees": 146, "filing_date": "2022-03-23" }, { "period": "2023-10-01", "regulatory_assets_under_management": 2014342000.0, "total_employees": 110, "filing_date": "2023-07-17" }, { "period": "2024-10-01", "regulatory_assets_under_management": 2648219394.0, "total_employees": 122, "filing_date": "2024-05-01" }, { "period": "2025-10-01", "regulatory_assets_under_management": 3031365662.0, "total_employees": 152, "filing_date": "2025-03-31" }, { "period": "2026-10-01", "regulatory_assets_under_management": 3012314711.0, "total_employees": 184, "filing_date": "2026-06-10" } ], "recent_changes": [ { "period": "2026-07-01", "period_label": "July 2026", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] }, { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Added an office in Stamford, CT.", "Updated its list of owners and control persons (Schedule A)." ] }, { "period": "2026-02-01", "period_label": "February 2026", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/fs-global-advisor-llc-philadelphia-pa-167620.md", "clients": [ { "type": "investment_companies", "label": "Investment companies", "count": 1, "fewer_than_5": false, "raum": 2158959000.0 }, { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 3, "fewer_than_5": false, "raum": 651630433.0 }, { "type": "other", "label": "Other", "count": 4, "fewer_than_5": false, "raum": 201725278.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "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/167620", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }