Asset manager · Pittsburgh, PA
Federated Investment Counseling
SEC-registered investment adviser · CRD 105325 · SEC 801-34611
At a glance
Federated Investment Counseling is an SEC-registered investment adviser based in Pittsburgh, Pennsylvania, with $207.2 billion in regulatory assets under management as of its Form ADV filed September 8, 2026. Its largest client group by assets is state or municipal government entities, and it reports 6,612 individual clients. By Form ADV it is a asset manager, ranked 72nd of 3,218 asset managers and 126th of 17,210 SEC-registered advisers by assets.
Main office 412-288-1900federatedhermes.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $207B
- Rank among asset managers
- #72 of 3,218
- Rank among all SEC RIAs
- #126 of 17,210
- Rank in Pennsylvania
- #10 of 564
- Individual clients
- 6,612
- High-net-worth clients
- 146
- Accounts
- 8,721
- Discretionary
- 100% of AUM
- Employees
- 213
- Advisory staff
- 141
- Offices
- 3
Owners and executives on its Form ADV
- John C. DonahueTrustee
- John B. FisherChairman
- Thomas Robert DonahueTrustee, Treasurer
- Deborah A. CunninghamExec Vice President/cio-Money Markets
- George F. MageraSecretary
- Stephen Paul Van MeterChief Compliance Officer
- Paul A. UhlmanTruste President CEO
- James J. GallagherTrustee
- Gina JacobsTrustee
- Richard J. GalloCIO - Global Fixed Income
- Steven A. ChiavaroneChief Investment Officer - Equity
Custody and brokerage
Broker-dealer
Affiliated broker-dealer
It names an affiliated broker-dealer: Federated Securities Corp..
- Federated Securities Corp. ↗CRD 5009
Its Form ADV brochure (filed March 2026) names Federated Securities as the broker-dealer its advisers are registered with.
This section has been revised to reflect current and anticipated management persons of Federated Investment Counseling who are also registered representatives of Federated Securities Corp.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| State or municipal government entities | 22 | $157B | 76% |
| Pooled investment vehicles | 25 | $16B | 8% |
| Insurance companies | 15 | $15B | 7% |
| Corporations or other businesses | 615 | $5.1B | 2% |
| Sovereign wealth funds and foreign official institutions | 2 | $3.7B | 2% |
| Individuals | 6,466 | $3.6B | 2% |
| Other investment advisers | 1,003 | $3.1B | 1% |
| Pension and profit sharing plans | 215 | $2.3B | 1% |
| Charitable organizations | 210 | $1.1B | <1% |
| High-net-worth individuals | 146 | $224M | <1% |
| Banking or thrift institutions | 2 | $1M | <1% |
Private funds
Federated Investment Counseling reports 3 private funds with $2.8B in gross assets: liquidity funds (Form ADV Item 7.B).
Disciplinary disclosures
Federated Investment Counseling reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for individuals and small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Educational seminars and workshops
- Other services
How it’s paid
- A percentage of assets under management
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗federatedhermes.com ↗
AtlasMembers
The full record on Federated Investment Counseling
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
- Locked
- Growth over one, three and five years
- Locked
- Rank against 145 peers of its type and size
- Locked
- Owners and executives, with titles and stakes
- 11 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 4Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Federated Investment Counseling manage?
Federated Investment Counseling reports $207.2 billion in regulatory assets under management across 8,721 accounts, 100% of it on a discretionary basis, on its Form ADV filed September 8, 2026.
What kind of firm is Federated Investment Counseling?
Federated Investment Counseling is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals. A public reporting company controls it.
Who are Federated Investment Counseling’s clients?
By assets, its largest client types are state or municipal government entities ($157.0 billion, 22 clients); pooled investment vehicles ($15.9 billion, 25 clients); insurance companies ($15.2 billion, 15 clients).
Does Federated Investment Counseling manage private funds?
Yes. It reports 3 private funds with $2.8 billion in gross assets, including liquidity funds.
Does Federated Investment Counseling have any disciplinary history?
Federated Investment Counseling reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is Federated Investment Counseling’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-09-08), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →