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 Structured Products Advisor, LLC
Latest filing Mar 27, 2026
First filing on the tape Dec 5, 2019 · 15 filings
SEC status approved since Jan 6, 2020
RAUM
$2.2B
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
30 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
6
reported on Schedule D
History
15 filings and snapshots on the tape
RAUM$2.2B as of Mar 27, 2026
Mar 30, 2020$0 then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Mar 27, 2026
Mar 30, 20200 then
Employees (5.A)183 as of Mar 27, 2026
Mar 30, 2020103 then
Private funds6 as of Mar 27, 2026
Mar 28, 20222 then
RAUM +52% over the last fiscal year+31% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 27, 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
- $367MderivedRAUM 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
- +52%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
- 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)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pooled investment vehicles$2.2B100%
- Individual clients
- n/areported
- HNW clients
- n/areported
- Pension plan clients
- n/areported
- Charitable clients
- n/areported
- Accounts
- 6reported
- Financial planning clients
- reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- 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
4 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Bridge Street Clo IV Ltd | Securitized Asset Fund | $363M | 2 | Dec 3, 2024 |
| Bridge Street Clo III Ltd | Securitized Asset Fund | $350M | 2 | Mar 22, 2023 |
| Bridge Street Clo I Ltd | Securitized Asset Fund | $345M | 2 | Nov 3, 2021 |
| Bridge Street Clo II Ltd | Securitized Asset Fund | $345M | 2 | Nov 3, 2021 |
Owners and control persons
Schedule A and B, latest filing
- Jason David Adelman · Principalcontrolsince 07/2019 · owns less than 5%
- D Andrew Beckman · Managing Director, Portfolio Managercontrolsince 07/2019 · owns less than 5%
- Philip Browne · Chief Financial Officercontrolsince 07/2019 · owns less than 5%
- Robert Marc Bryant · Chief Legal Officercontrolsince 07/2019 · owns less than 5%
- Camilla Elizabeth Detwiler · Chief Compliance Officer/Managing Directorcontrolsince 07/2019 · owns less than 5%
- Craig Michael Forman · Chief Executive Officercontrolsince 07/2019 · owns less than 5%
- David William Mann · Dccocontrolsince 07/2019 · owns less than 5%
- Stephen Sypherd · General Counselcontrolsince 07/2019 · 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 Membercontrolsince 05/2007 · owns 50% to 75% of Franklin Square Holdings, G.P., LLC
- Jay Michael Heller · Trusteesince 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 5% to 10%
- 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 advisernRAUM $3.0B
- Fs Investment Solutions, LLCbroker-dealern
- Fs Reit Advisor, LLCinvestment advisernRAUM $9.1B
- Fs Tactical Advisor, LLCinvestment adviserbanknRAUM $279M
- 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 Structured Products Advisor, LLC as a related person
Offices
Schedule D 1.F, the 25 largest
- New York, NY14 employees
ADV anomalies
1 against comparable advisers; where to look, not conclusions
- private fund count surgeChange between filings · filing Mar 27, 2026private funds (Schedule D 7.B.1) moved from 4.0 to 6.0 (+50.0%) between the annual amendments of 2025-03-28 and 2026-03-27; the peer median change was 0.0% (1022 comparable advisers, 93.0th percentile of changes)peers: asset managers, $1B to $5B (1,022) · 93% percentile
What changed
consecutive filings, newest first
- Accounts · 4 to 6Jan 13, 2026 to Mar 27, 2026
- Advisory employees · 25 to 30Jan 13, 2026 to Mar 27, 2026
- BD registered reps · 15 to 14Jan 13, 2026 to Mar 27, 2026
- Pooled vehicle clients · 4 to 6Jan 13, 2026 to Mar 27, 2026
- Employees · 149 to 183Jan 13, 2026 to Mar 27, 2026
- Private funds · 4 to 6Jan 13, 2026 to Mar 27, 2026
- Discretionary RAUM · $1.4B to $2.2BJan 13, 2026 to Mar 27, 2026
- Pooled vehicle RAUM · $1.4B to $2.2BJan 13, 2026 to Mar 27, 2026
- RAUM · $1.4B to $2.2BJan 13, 2026 to Mar 27, 2026
- Advisory employees · 16 to 25Dec 3, 2024 to Mar 28, 2025
- BD registered reps · 12 to 15Dec 3, 2024 to Mar 28, 2025
- Employees · 119 to 149Dec 3, 2024 to Mar 28, 2025
- Financial planning clients · unset to Dec 3, 2024 to Mar 28, 2025
- Discretionary RAUM · $1.5B to $1.4BDec 3, 2024 to Mar 28, 2025
- Pooled vehicle RAUM · $1.5B to $1.4BDec 3, 2024 to Mar 28, 2025
- RAUM · $1.5B to $1.4BDec 3, 2024 to Mar 28, 2025
- Accounts · 3 to 4Apr 30, 2024 to Dec 3, 2024
- Pooled vehicle clients · 3 to 4Apr 30, 2024 to Dec 3, 2024
- Private funds · 3 to 4Apr 30, 2024 to Dec 3, 2024
- Discretionary RAUM · $1.0B to $1.5BApr 30, 2024 to Dec 3, 2024
- Pooled vehicle RAUM · $1.0B to $1.5BApr 30, 2024 to Dec 3, 2024
- RAUM · $1.0B to $1.5BApr 30, 2024 to Dec 3, 2024
- Discretionary RAUM · $980M to $1.0BMar 27, 2024 to Apr 30, 2024
- Pooled vehicle RAUM · $980M to $1.0BMar 27, 2024 to Apr 30, 2024
- RAUM · $980M to $1.0BMar 27, 2024 to Apr 30, 2024
- Advisory employees · 13 to 16Jul 27, 2023 to Mar 27, 2024
- BD registered reps · 14 to 12Jul 27, 2023 to Mar 27, 2024
- Employees · 110 to 119Jul 27, 2023 to Mar 27, 2024
- Discretionary RAUM · $974M to $980MJul 27, 2023 to Mar 27, 2024
- Pooled vehicle RAUM · $974M to $980MJul 27, 2023 to Mar 27, 2024
- RAUM · $974M to $980MJul 27, 2023 to Mar 27, 2024
- Accounts · 2 to 3Mar 28, 2022 to Mar 22, 2023
- Advisory employees · 12 to 13Mar 28, 2022 to Mar 22, 2023
- BD registered reps · 11 to 14Mar 28, 2022 to Mar 22, 2023
- Pooled vehicle clients · 2 to 3Mar 28, 2022 to Mar 22, 2023
- Employees · 146 to 110Mar 28, 2022 to Mar 22, 2023
- Private funds · 2 to 3Mar 28, 2022 to Mar 22, 2023
- Discretionary RAUM · $647M to $974MMar 28, 2022 to Mar 22, 2023
- Pooled vehicle RAUM · $647M to $974MMar 28, 2022 to Mar 22, 2023
- RAUM · $647M to $974MMar 28, 2022 to Mar 22, 2023
Signals
5 dated events
- Fs Structured Products Advisor, Llc reported RAUM $2.2B, up 52% from $1.4B (2026-01-13 to 2026-03-27)Mar 27, 2026 · RAUM change · derived
- Fs Structured Products Advisor, Llc reported RAUM $1.5B, up 41% from $1.0B (2024-04-30 to 2024-12-03)Dec 3, 2024 · RAUM change · derived
- Fs Structured Products Advisor, Llc reported RAUM $973.6M, up 50% from $647.1M (2022-03-28 to 2023-03-22)Mar 22, 2023 · RAUM change · derived
- Robert Marc Bryant (Chief Legal Officer) appeared on Schedule A of Fs Structured Products Advisor, LlcMar 30, 2020 · Control person joined · fact
- Fs Structured Products Advisor, Llc filed its initial SEC registration (Form ADV)Dec 5, 2019 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
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, Mar 27, 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