Fs Fund Advisor, LLC (Philadelphia)


Fs Fund Advisor, LLC is an investment adviser to an investment company based in Philadelphia. It manages $130.63 million of regulatory assets for 7 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of New York and Pennsylvania.

Fs Fund Advisor provides portfolio management for investment companies and providing advice to proposed model portfolios. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Fs Fund Advisor: assets under management

The assets under management (AUM) of Fs Fund Advisor, LLC is $130.63 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 65214% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $130.63 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $18.66 million each.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Fs Fund Advisor, LLC for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Fs Fund Advisor serves?

The only and largest group of clients of Fs Fund Advisor is investment companies with 7 clients and $130.63 million of assets under management. Among the 12 most similar advisory firms, Fs Fund Advisor has the highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $130.63 million for 7 clients. None of the firm’s clients are foreign persons or businesses.

Fs Fund Advisor doesn't advise any private funds.

Careers at Fs Fund Advisor, LLC

The company employs 67 people that are either part- or full-time employees. 4 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Michael Jay Heller Trustee, the 2011 forman investment trust 1 Jan 2012 Other 6046092
Michael Craig Forman Chairman and ceo 1 Jan 2017 Other 5517777
L.P. Franklin Square Holdings Member, class c 1 Jan 2017 75% - 100% 26-0196373
The 2011 Forman Investment Trust Member, class a 1 Jan 2017 Other 38-7012473
David Jason Adelman Principal 1 Jan 2017 Other 5517785
Elizabeth Camilla Detwiler Cco 1 Jan 2017 Other 4361137
L.P. Darco Capital Member, class a 1 Jan 2017 Other 26-0161881
Stephen Sypherd Chief legal officer 1 Mar 2017 Other 6926662
Philip Browne Chief financial officer 1 Mar 2017 Other 6926656

Indirect Owners

The SEC currently registers 6 indirect owners.

Name Entity Date acquired Ownership Employer ID
David Jason Adelman Managing member of the general partner 1 Mar 2007 25% - 50% 5517785
Michael Craig Forman Managing member 1 May 2007 50% - 75% 5517777
David Jason Adelman Member 1 Feb 2015 50% - 75% 5517785
Michael Craig Forman Managing member 1 Feb 2015 50% - 75% 5517777
G.P. Llc Franklin Square Holdings General partner 1 Jan 2017 Other 26-0196189
Michael Jay Heller Trustee 1 Jan 2017 Other 6046092

Based in Philadelphia

The principal office where Fs Fund Advisor, LLC performs its advisory services is located at 201 Rouse Boulevard, Philadelphia, PA 19112, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 215-220-6651 or by fax 215-339-1931. The normal business hours are 9:00 - 5:00 on Monday - Friday. You can find more information about the New York firm at fsinvestments.com.