# Richard Bernstein Advisors LLC

> Richard Bernstein Advisors LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2010, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated August 17, 2026.

- CRD: 153577
- Filed as: RICHARD BERNSTEIN ADVISORS LLC
- Also doing business as: JANUS HENDERSON INVESTORS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: August 17, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/153577
- AdvisorCensus page: https://advisorcensus.com/firm/richard-bernstein-advisors-llc-new-york-ny-153577

## Quick answers

**How is Richard Bernstein Advisors LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Richard Bernstein Advisors LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Richard Bernstein Advisors LLC located?**
Richard Bernstein Advisors LLC's principal office is in New York, NY, according to its Form ADV.

**Is Richard Bernstein Advisors LLC registered with the SEC or a state?**
Richard Bernstein Advisors LLC is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 153577.

**How much does Richard Bernstein Advisors LLC manage?**
Richard Bernstein Advisors LLC reports $180,796,911 in regulatory assets under management in its Form ADV filing dated August 17, 2026 (100% discretionary).

**How have Richard Bernstein Advisors LLC's assets and staff changed since 2021?**
In the Form ADV data for Richard Bernstein Advisors LLC: Regulatory assets under management: $4,713,504,023 in the October 2021 data and $180,796,911 in the October 2026 data, down 96%. Total employees: 32 in October 2021 and 28 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Richard Bernstein Advisors LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (2).

**Does Richard Bernstein Advisors LLC report any disciplinary disclosures?**
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.D(2) (another regulator's finding of a 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/153577

**What changed in Richard Bernstein Advisors LLC's recent Form ADV filings?**
In the September 2026 filing data: Regulatory assets under management went from $3,786,778,287 to $180,796,911 (-95%).

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $180,796,911
- Discretionary: $180,796,911
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $180,796,911 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2010 (16 years)
- Employees: 28 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NY
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): 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?
- 11.C(5): 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?
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/153577

### Websites listed on Form ADV (Item 1.I)
- [janushenderson.com](https://janushenderson.com)
- [rbadvisors.com](https://rbadvisors.com)
- LinkedIn @1376322
- X @RBADVISORS

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $4,713,504,023 | 32 | August 4, 2021 |
| October 2022 | $6,065,656,710 | 33 | March 9, 2022 |
| October 2023 | $5,238,538,747 | 36 | April 30, 2023 |
| October 2024 | $5,235,676,824 | 35 | September 10, 2024 |
| October 2025 | $4,954,561,817 | 30 | March 25, 2025 |
| October 2026 | $180,796,911 | 28 | August 17, 2026 |

Regulatory assets under management: $4,713,504,023 in the October 2021 data and $180,796,911 in the October 2026 data, down 96%.
Total employees: 32 in October 2021 and 28 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Regulatory assets under management went from $3,786,778,287 to $180,796,911 (-95%).

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

### July 2026
- Its Item 11 disclosure answers changed.
- Added the business name Janus Henderson Investors.
- Updated its list of owners and control persons (Schedule A).

### May 2026
- Item 11 disclosure answers changed: 3 yes answers, previously 2 (now yes: 11.D(2)).
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Regulatory assets under management went from $4,954,561,817 to $3,786,778,287 (-24%).
- Employees performing advisory functions went from 8 to 7.

### 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. Richard Bernstein Advisors LLC (CRD 153577): Form ADV filing data as of October 2026.