{
  "crd_number": 300214,
  "slug": "fs-tactical-advisor-llc-philadelphia-pa-300214",
  "primary_business_name": "FS TACTICAL ADVISOR, LLC",
  "legal_name": "FS TACTICAL 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": "2019-07-12",
  "years_registered": 7,
  "period": "2026-10-01",
  "filing_date": "2026-06-10",
  "carried_forward": false,
  "raum_total": 278809900.0,
  "raum_discretionary": 278809900.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 183,
  "advisory_employees": 25,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 278809900.0,
      "count": 2
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "NY",
    "PA"
  ],
  "websites": [
    "https://facebook.com/fsfuturestandard",
    "https://fscreit.com",
    "https://fskkcapitalcorp.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/tray-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/1bNRLpYa1IuvcEyTA8AtMc",
    "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/300214",
  "city_as_filed": "PHILADELPHIA",
  "url": "https://advisorcensus.com/firm/fs-tactical-advisor-llc-philadelphia-pa-300214",
  "display_name": "FS Tactical Advisor, LLC",
  "summary": "FS Tactical Advisor, LLC is an SEC-registered investment advisory firm in Philadelphia, PA, registered since 2019, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated June 10, 2026.",
  "citation": "AdvisorCensus. FS Tactical Advisor, LLC (CRD 300214): 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 pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is FS Tactical Advisor, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), FS Tactical Advisor, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "Where is FS Tactical Advisor, LLC located?",
      "a": "FS Tactical 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)."
    },
    {
      "q": "Is FS Tactical Advisor, LLC registered with the SEC or a state?",
      "a": "FS Tactical Advisor, LLC is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 300214."
    },
    {
      "q": "How much does FS Tactical Advisor, LLC manage?",
      "a": "FS Tactical Advisor, LLC reports $278,809,900 in regulatory assets under management in its Form ADV filing dated June 10, 2026 (100% discretionary)."
    },
    {
      "q": "How have FS Tactical Advisor, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for FS Tactical Advisor, LLC: Regulatory assets under management: $37,309,707 in the October 2021 data and $278,809,900 in the October 2026 data, up 647%. Total employees: 130 in October 2021 and 183 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does FS Tactical Advisor, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (2)."
    },
    {
      "q": "Does FS Tactical 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/300214"
    },
    {
      "q": "Does FS Tactical Advisor, LLC state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 30, 2026 says: \"The required minimum investment in the Fund is $1,000,000.00. The Fund’s general partner has discretion to accept lesser amounts.\""
    },
    {
      "q": "What changed in FS Tactical 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": 37309707.0,
      "total_employees": 130,
      "filing_date": "2021-08-17"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 114822718.0,
      "total_employees": 146,
      "filing_date": "2022-09-12"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 156648738.0,
      "total_employees": 109,
      "filing_date": "2023-07-27"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 245105536.0,
      "total_employees": 119,
      "filing_date": "2024-04-30"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 294204506.0,
      "total_employees": 149,
      "filing_date": "2025-03-29"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 278809900.0,
      "total_employees": 183,
      "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": [
        "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": {
    "source": "Form ADV Part 2A brochure dated March 30, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$1,000,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "The required minimum investment in the Fund is $1,000,000.00. The Fund’s general partner has discretion to accept lesser amounts."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 1000000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "The required minimum investment in the Fund is $1,000,000.00. The Fund’s general partner has discretion to accept lesser amounts."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/fs-tactical-advisor-llc-philadelphia-pa-300214.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 2,
      "fewer_than_5": false,
      "raum": 278809900.0
    }
  ],
  "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/300214",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}