DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
Fs Tactical Advisor, LLC
Latest filing Jun 10, 2026
First filing on the tape Jun 11, 2019 · 18 filings
SEC status approved since Jul 12, 2019
RAUM
$279M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
183
25 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
2
reported on Schedule D
History
18 filings and snapshots on the tape
RAUM$279M as of Jun 10, 2026
Mar 26, 2020$25.0M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Jun 10, 2026
Mar 26, 20200 then
Employees (5.A)183 as of Jun 10, 2026
Mar 26, 2020103 then
Private funds2 as of Jun 10, 2026
Mar 26, 20201 then
RAUM -5.2% over the last fiscal year+21% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Jun 10, 2026; every figure names its basis
- RAUM per advisor
- unknownderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- unknownderivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- unknownderivedHNW RAUM over HNW clients
- Average account
- $139MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- unknownderivedItem 5.A over advisors
- Advisors per office
- unknownderived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- -5.2%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- unknownderived
- Compensation
- percentage of assets, performance-basedreportedItem 5.E
- Advisory activities
- portfolio management for pooled vehiclesreportedItem 5.G
- Custody
- $40.9M, 2 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- has discretionary authority over which securities are bought or sold (8.C.1)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- an independent public accountant performs a surprise examination (9.C.1)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$279M100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 2reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- $40.9M for 2 clientsreported
- Compensation
- % of AUM, performancereported
- Class basis
- private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=true related_bank=true bd_reps=14.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
Joined, latest
none on the tape
Private funds
1 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Fs Tactical Opportunities Fund, L.P. | Private Equity Fund | $245M | 193 | Jun 11, 2019 |
Owners and control persons
Schedule A and B, latest filing
- Jason David Adelman · Principalcontrolsince 03/2019 · owns less than 5%
- D Andrew Beckman · Managing Directorcontrolsince 03/2019 · owns less than 5%
- Philip Browne · Chief Financial Officercontrolsince 03/2019 · owns less than 5%
- Robert Marc Bryant · Chief Legal Officercontrolsince 05/2019 · owns less than 5%
- Camilla Elizabeth Detwiler · Chief Compliance Officercontrolsince 03/2019 · owns less than 5%
- Craig Michael Forman · Chairman And Ceocontrolsince 03/2019 · owns less than 5%
- David William Mann · Dccocontrolsince 03/2020 · owns less than 5%
- Stephen Sypherd · General Counselcontrolsince 03/2019 · owns less than 5%
- Jason David Adelman · Membercontrolsince 05/2007 · owns 50% to 75% of Franklin Square Holdings, G.P., LLC
- Craig Michael Forman · Limited Partnercontrolsince 08/2005 · owns 75% or more of Fb Capital Partners, L.P.
- Craig Michael Forman · Sole Membercontrolsince 02/2007 · owns 75% or more of Fb Capital Management, LLC
- Craig Michael Forman · Managing Member Of The General Partnercontrolsince 03/2007 · owns 50% to 75% of Franklin Square Holdings, G.P., LLC
- Jay Michael Heller · Trusteecontrolsince 01/2012 · owns F of The 2011 Forman Investment Trust
Entity owners
- Darco Capital, L.P. · Member, Class Adirect · owns less than 5%
- Fsh Advisor Fee Holdings, LLC · Memberdirect · owns 10% to 25%
- Fsjv Holdco, LLC · Memberdirect · owns 75% or more
- The 2011 Forman Investment Trust · Member, Class Adirect · owns 10% to 25%
- Fb Capital Management, LLC · General Partnerindirect · owns F of Fb Capital Partners, L.P.
- Fb Capital Partners, L.P. · Memberindirect · owns 25% to 50% of Fsh Nci Aggregator, LLC
- Franklin Square Holdings, G.P., LLC · General Partnerindirect · owns F of Franklin Square Holdings, L.P.
- Franklin Square Holdings, L.P. · Memberindirect · owns F of Fsh Holdco LLC
- Franklin Square Holdings, L.P. · Memberindirect · owns 50% to 75% of Fsjv Holdco, LLC
- Franklin Square Holdings, L.P. · Memberindirect · owns 75% or more of Fsh Advisor Fee Holdings, LLC
- Fsh Advisor Fee Holdings LLC · Memberindirect · owns F of Fsjv Holdco, LLC
- Fsh Nci Aggregator, LLC · Limited Partnerindirect · owns 25% to 50% of Franklin Square Holdings, L.P.
- The 2011 Forman Investment Trust · Memberindirect · owns 25% to 50% of Fsh Nci Aggregator, LLC
- Fsh Holdco LLC · Memberindirect · owns 75% or more of Fsh Holdco Sub, LLC
- Fsh Holdco Sub, LLC · Memberindirect · owns F of Fsjv Holdco, LLC
Related persons
Schedule D 7.A
- Asia Select Management Ltdpooled vehicle sponsorn
- Chiron Investment Management, LLCinvestment adviserbanknRAUM $440M
- Franklin Square Holdings, L.P.pooled vehicle sponsory
- Fs Credit Income Advisor, LLCinvestment adviserbanknRAUM $726M
- Fs Fund Advisor, LLCinvestment adviserbanknRAUM $1.6B
- Fs Global Advisor, LLCinvestment adviserbanknRAUM $3.0B
- Fs Investment Solutions, LLCbroker-dealern
- Fs Reit Advisor, LLCinvestment advisernRAUM $9.1B
- Fs Structured Products Advisor, LLCinvestment advisernRAUM $2.2B
- Fs Tactical Opportunities Fund Gp, L.P.bankpooled vehicle sponsory
- Fs Specialty Lending Advisor, LLCinvestment adviserbanknRAUM $1.9B
- Fs/Kkr Advisor, LLCinvestment adviserbanknRAUM $16B
- Portfolio Advisors Capital Uk, Ltdinvestment advisern
- Portfolio Advisors LLCinvestment adviserpooled vehicle sponsornRAUM $48B
- Portfolio Advisors Singapore Pte. Ltd.investment advisern
Advisers that list Fs Tactical Advisor, LLC as a related person
Offices
Schedule D 1.F, the 25 largest
- New York, NY14 employees
What changed
consecutive filings, newest first
- Accounts · 1 to 2Jan 27, 2026 to Mar 30, 2026
- BD registered reps · 15 to 14Jan 27, 2026 to Mar 30, 2026
- Pooled vehicle clients · 1 to 2Jan 27, 2026 to Mar 30, 2026
- Employees · 149 to 183Jan 27, 2026 to Mar 30, 2026
- Private funds · 1 to 2Jan 27, 2026 to Mar 30, 2026
- Discretionary RAUM · $294M to $279MJan 27, 2026 to Mar 30, 2026
- Pooled vehicle RAUM · $294M to $279MJan 27, 2026 to Mar 30, 2026
- RAUM · $294M to $279MJan 27, 2026 to Mar 30, 2026
- Advisory employees · 15 to 25Dec 3, 2024 to Mar 29, 2025
- BD registered reps · 14 to 15Dec 3, 2024 to Mar 29, 2025
- Assets in custody · $52.0M to $40.9MDec 3, 2024 to Mar 29, 2025
- Employees · 119 to 149Dec 3, 2024 to Mar 29, 2025
- Financial planning clients · unset to Dec 3, 2024 to Mar 29, 2025
- Discretionary RAUM · $279M to $294MDec 3, 2024 to Mar 29, 2025
- Pooled vehicle RAUM · $279M to $294MDec 3, 2024 to Mar 29, 2025
- RAUM · $279M to $294MDec 3, 2024 to Mar 29, 2025
- Assets in custody · $91.0M to $52.0MApr 30, 2024 to Dec 3, 2024
- Discretionary RAUM · $245M to $279MApr 30, 2024 to Dec 3, 2024
- Pooled vehicle RAUM · $245M to $279MApr 30, 2024 to Dec 3, 2024
- RAUM · $245M to $279MApr 30, 2024 to Dec 3, 2024
- Discretionary RAUM · $154M to $245MMar 27, 2024 to Apr 29, 2024
- Pooled vehicle RAUM · $154M to $245MMar 27, 2024 to Apr 29, 2024
- RAUM · $154M to $245MMar 27, 2024 to Apr 29, 2024
- Advisory employees · 13 to 15Jul 27, 2023 to Mar 27, 2024
- Assets in custody · $109M to $91.0MJul 27, 2023 to Mar 27, 2024
- Employees · 109 to 119Jul 27, 2023 to Mar 27, 2024
- Discretionary RAUM · $157M to $154MJul 27, 2023 to Mar 27, 2024
- Pooled vehicle RAUM · $157M to $154MJul 27, 2023 to Mar 27, 2024
- RAUM · $157M to $154MJul 27, 2023 to Mar 27, 2024
- Advisory employees · 12 to 13Sep 12, 2022 to Mar 27, 2023
- BD registered reps · 11 to 14Sep 12, 2022 to Mar 27, 2023
- Assets in custody · $62.1M to $109MSep 12, 2022 to Mar 27, 2023
- Employees · 146 to 109Sep 12, 2022 to Mar 27, 2023
- Discretionary RAUM · $115M to $157MSep 12, 2022 to Mar 27, 2023
- Pooled vehicle RAUM · $115M to $157MSep 12, 2022 to Mar 27, 2023
- RAUM · $115M to $157MSep 12, 2022 to Mar 27, 2023
- Advisory employees · 11 to 12Aug 17, 2021 to Mar 30, 2022
- BD registered reps · 10 to 11Aug 17, 2021 to Mar 30, 2022
- Assets in custody · $37.3M to $62.1MAug 17, 2021 to Mar 30, 2022
- Employees · 130 to 146Aug 17, 2021 to Mar 30, 2022
Signals
3 dated events
- David William Mann (Dcco) appeared on Schedule A of Fs Tactical Advisor, LlcMar 29, 2021 · Control person joined · fact
- Robert Marc Bryant (Chief Legal Officer) appeared on Schedule A of Fs Tactical Advisor, LlcMar 26, 2020 · Control person joined · fact
- Fs Tactical Advisor, Llc filed its initial SEC registration (Form ADV)Jun 11, 2019 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
- FS Tactical Advisor, LLC · Independent Sponsorsshared crd · capital_provider
- FS Tactical Advisor, LLC · Private Equityshared crd · organization
How to reach
public business contact points only, each with its source
- Firm profile
- LINKEDIN.COM/COMPANY/Futurestandardfsreportedpublic record, Form ADV, Sep 17, 2026
- Firm profile
- linkedin.com/company/portfolio-advisorsreportedpublic record, Form ADV, Sep 17, 2026
- Website
- fscreit.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- (215)220-6651reportedpublic record, Form ADV, Jun 10, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
- RAUM per advisor
- n/aderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026