Asset manager · Wheaton, IL
First Trust Advisors LP
SEC-registered investment adviser · CRD 107027 · SEC 801-39950
At a glance
First Trust Advisors LP is an SEC-registered investment adviser based in Wheaton, Illinois, with $309.2 billion in regulatory assets under management as of its Form ADV filed April 30, 2026. Its largest client group by assets is investment companies, and it reports 3,527 individual clients. By Form ADV it is a asset manager, ranked 54th of 3,218 asset managers and 84th of 17,210 SEC-registered advisers by assets.
Main office 630-765-8000LinkedInAs filed on Form ADV
- Regulatory AUM
- $309B
- Rank among asset managers
- #54 of 3,218
- Rank among all SEC RIAs
- #84 of 17,210
- Rank in Illinois
- #3 of 684
- Individual clients
- 3,527
- High-net-worth clients
- 2,593
- Accounts
- 6,316
- Discretionary
- 75% of AUM
- Employees
- 542
- Advisory staff
- 143
- Offices
- 5
Owners and executives on its Form ADV
- William S. JardineGeneral Counsel
- Robert S. HallManaging Director
- Andrew S. RoggensackPresident
- James A. BowenChief Executive Officer
- David G. McGarelManaging Director/chief Investment Officer
- Daniel J. LindquistManaging Director
- James M. DykasChief Financial Officer / Managing Director
- David G. McGarelChief Operating Officer
- Kelly C. DehlerChief Compliance Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
First Trust Advisors LP is a hybrid RIA: 152 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: First Trust Japan GK, First Trust Portfolios Asia PTE. LTD. and First Trust Portfolios L.P..
- First Trust Japan GK
- First Trust Portfolios Asia PTE. LTD.
- First Trust Portfolios L.P. ↗CRD 28519
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Investment companies | 1,954 | $298B | 96% |
| Pooled investment vehicles | 80 | $5.1B | 2% |
| High-net-worth individuals | 2,593 | $4.7B | 2% |
| Charitable organizations | 52 | $1.1B | <1% |
| Corporations or other businesses | 118 | $594M | <1% |
| Individuals | 934 | $317M | <1% |
Private funds
First Trust Advisors LP reports 1 private funds with $53M in gross assets: hedge funds (Form ADV Item 7.B).
Disciplinary disclosures
First Trust Advisors LP answers yes to 4 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for individuals and small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Selecting other advisers
- Periodicals or newsletters
How it’s paid
- A percentage of assets under management
- Performance-based fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗
AtlasMembers
The full record on First Trust Advisors LP
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
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- Growth over one, three and five years
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- Rank against 110 peers of its type and size
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- Owners and executives, with titles and stakes
- 9 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 2Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does First Trust Advisors LP manage?
First Trust Advisors LP reports $309.2 billion in regulatory assets under management across 6,316 accounts, 75% of it on a discretionary basis, on its Form ADV filed April 30, 2026.
What kind of firm is First Trust Advisors LP?
First Trust Advisors LP is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals.
Who are First Trust Advisors LP’s clients?
By assets, its largest client types are investment companies ($297.5 billion, 1,954 clients); pooled investment vehicles ($5.1 billion, 80 clients); high-net-worth individuals ($4.7 billion, 2,593 clients).
Does First Trust Advisors LP manage private funds?
Yes. It reports 1 private funds with $53 million in gross assets, including hedge funds.
Does First Trust Advisors LP have any disciplinary history?
First Trust Advisors LP answers yes to 4 disclosure items in Item 11 of Form ADV, which covers criminal, regulatory and civil matters involving the firm or its advisory affiliates. The details are on the SEC’s adviser search.
Where these numbers come from
Every figure is First Trust Advisors LP’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 (2026-04-30), 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 →