First Trust Advisors: AUM & Ownership

Clients

First Trust Advisors serves 5,731 clients, 2,593 of them high-net-worth individuals. The average client has about $54 million with the firm, and high-net-worth clients hold 2% of its $309.2 billion in assets.

Regulatory assets by client type

Investment companies1,954 clients96%
OtherIndividuals, High-net-worth individuals, Pooled investment vehicles, Charitable organizations, Corporations and other businesses4%

Show client breakdown

Client type	Clients	Regulatory AUM	Share	Avg. per client
Individuals (other than HNW)	934	$317,000,000	0.1%	$339K
High-net-worth individuals	2,593	$4,656,000,000	1.5%	$1.80M
Investment companies	1,954	$297,508,000,000	96.2%	$152.3M
Pooled investment vehicles	80	$5,051,000,000	1.6%	$63.1M
Charitable organizations	52	$1,115,000,000	0.4%	$21.4M
Corporations and other businesses	118	$594,000,000	0.2%	$5.03M
Total	5,731	$309,241,000,000	100%	$54.0M

Individuals (other than HNW)

Clients: 934
Regulatory AUM: $317,000,000
Share: 0.1%
Avg. per client: $339K

High-net-worth individuals

Clients: 2,593
Regulatory AUM: $4,656,000,000
Share: 1.5%
Avg. per client: $1.80M

Investment companies

Clients: 1,954
Regulatory AUM: $297,508,000,000
Share: 96.2%
Avg. per client: $152.3M

Pooled investment vehicles

Clients: 80
Regulatory AUM: $5,051,000,000
Share: 1.6%
Avg. per client: $63.1M

Charitable organizations

Clients: 52
Regulatory AUM: $1,115,000,000
Share: 0.4%
Avg. per client: $21.4M

Corporations and other businesses

Clients: 118
Regulatory AUM: $594,000,000
Share: 0.2%
Avg. per client: $5.03M

Total

Clients: 5,731
Regulatory AUM: $309,241,000,000
Share: 100%
Avg. per client: $54.0M

What it does

First Trust Advisors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, selecting other managers and publishing newsletters. It is paid through a percentage of assets, performance-based fees and other arrangements.

First Trust Advisors advises 1 private funds.

75.2% of assets ($232.69B across 4,682 accounts) are managed with discretion; $76.55B across 1,634 accounts are not. $2.75B sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

Stocks88%
- Exchange-traded equities85%
- Non-exchange-traded equities3%
Funds6%
Bonds4%
Cash2%

Custodians

First Trust Advisors’ client accounts are held mainly at Charles Schwab, with 1% of managed assets, and Fidelity, with 0%. First Trust Advisors has custody of client assets.

Managed account assets by custodian

Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $2.28B1%
OtherFidelity, All other custodians99%

Ownership and leadership

Grace Partners of Dupage L.P. owns 75% or more of First Trust Advisors, and James Bowen is its CEO.

Who owns the firm

First Trust Advisors LP· the adviser

Grace Partners of Dupage L.P.
Control person · since August 1991
Owns 75% or more of First Trust Advisors LP
- The Charger Corporation
  General partner · Control person · since August 1991
  - Ajm Ventures LLC
    Control person · since October 2010
    Owns 75% or more of The Charger Corporation
    - James Bowen
      Control person · since October 2010
      Owns 75% or more of Ajm Ventures LLC

Leadership

James Bowen
Chief Executive Officer
Andrew Roggensack
President
James Dykas
Chief Financial Officer / Managing Director
David McGarel
Chief Operating Officer
Kelly Dehler
Chief Compliance Officer
Robert Hall
Managing Director
William Jardine
General Counsel
Daniel Lindquist
Managing Director
David McGarel
Managing Director/Chief Investment Officer

Staff

542 employees
143 in advisory functions
96 state-registered reps
152 broker-dealer reps

Reported holdings

First Trust Advisors’ reported 13F holdings total $170.01B across 2,655 positions, and the ten largest make up 11.1% of it.

$170.01B
Reported 13F value: 2,655
Positions: 11.1%
In the 10 largest: +21.5%
Value vs. prior quarter

Ten largest positions, share of reported value

Cisco Sys Inc.1.5%
Nvidia Corporation1.3%
Broadcom Inc.1.1%
Alphabet Inc. · Cap Stk CL A1.1%
Palo Alto Networks Inc.1.1%
Applied Matls Inc.1.0%
Microsoft Corp.1.0%
Apple Inc.1.0%
Fortinet Inc.1.0%
KLA Corp.0.9%

Together, the ten largest are 11.1% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 11 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $170.01B is not its $309.24B in regulatory assets and does not represent any individual client's portfolio.

Fees

First Trust Advisors is paid through a percentage of assets under management, performance-based fees and other.

First Trust Advisors’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, First Trust Advisors has 4 offices, with 5 listed addresses across 5 states.

Listed office addresses by state

Illinois · 1 listed address

120 E. Liberty Drive, Suite 400, WheatonHQ

Registration details

Legal name: First Trust Advisors LP
Headquarters: 120 E. Liberty Drive, Suite 400, Wheaton, IL 60187
Phone: 630-765-8000
Website: Not reported
SEC file: 801-39950
Structure: Illinois limited partnership
Fiscal year end: December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does First Trust Advisors have?

First Trust Advisors has 5,731 clients and manages $309.2 billion for them, as of April 2026. They include 2,593 high-net-worth individuals, 1,954 investment companies and 934 other individuals.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 April 2026

What services does First Trust Advisors offer?

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does First Trust Advisors use?

First Trust Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $2,284,000,000 and National Financial Services LLC (Boston, MA), with $1,400,000,000. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 April 2026

How many financial advisors does First Trust Advisors have?

First Trust Advisors has 96 investment adviser representatives registered with state securities authorities, out of 542 employees, and 143 perform investment advisory functions. 152 are registered representatives of a broker-dealer and 0 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does First Trust Advisors invest in?

At the end of its last fiscal year, First Trust Advisors’ separately managed accounts held 85% exchange-traded equities, 6% registered funds (mutual funds, ETFs, BDCs), 4% state and local bonds, 3% non-exchange-traded equities and 2% cash and equivalents. It advises 1 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns First Trust Advisors?

First Trust Advisors is owned through a chain of holding companies by James Bowen. Its direct owner is Grace Partners of Dupage L.P. (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 30 April 2026

How does First Trust Advisors get paid?

First Trust Advisors is paid through a percentage of assets under management, performance-based fees and other arrangements. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file