First Trust Advisors Lp

CRD#107027
Investment Advisor Firm

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Overview

First Trust Advisors Lp is an advisory firm that has its headquarters in Wheaton, Illinois. The firm administers $190.5 billion in total assets across 3,143 client accounts, making it one of the largest investment advisory firms in the nation by assets under management (AUM). It has a large team, including 86 financial advisors. First Trust Advisors Lp is not a registered broker-dealer, signifying that the firm cannot buy and sell securities for its own accounts as well as its customers' and instead has to go through a broker-dealer company to do so. Securities are exchangable fiscal investments such as equities, bonds and options.

First Trust Advisors Lp manages some of the company's accounts on a discretionary basis. Discretionary management means that an investment advisor makes buy and sell judgments for the client's account without requiring client authorization. The company also has 1,645 non-discretionary accounts totaling $53.5 billion in assets. The company administers about $60.5 million for every client account. The average financial advisor at First Trust Advisors Lp oversees about 37 client accounts, making it about average in terms of personalization.

The firm's headquarters is at 120 E. Liberty Drive, Wheaton, Illinois 60187. The firm is registered to serve clients across 51 U.S. states and territories.

Assets Under Management

$190.5 billion

Number of Advisors

86

Disclosures

No

Office Location

120 E. Liberty Drive
Wheaton, IL 60187

First Trust Advisors Lp by the Numbers

Total Assets Under Management

$190.5 billion

National Average: $8.6 billion
Total Number of Employees

637

National Average: 64
Total Number of Accounts

3,143

National Average: 375,227
Average Account Size

$60.6 million

National Average: $23.0 thousand
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Products and Services

First Trust Advisors Lp offers multiple services, which can include portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for institutional clients, selection of other advisers and publication of newsletters. It does not sell products or offer services apart from investment advisory services to its investment advisory customers. It is also affiliated with one or more other companies in the financial services industry, including with a broker-dealer or securities dealer and commodity pool advisor.

Core Advisor Services

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    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 46% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

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    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 20% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Offered by 3% of firms

    Publication of Periodicals

    This is the publication of various financial education materials.

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    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

A financial advisor's fees vary depending on which service is offered. Fees charged by the firm most likely are comprised of any blend of the following fee structures: asset-based or other. The firm participates in a wrap fee program, in which the firm offers a bundle of services for a comprehensive fee.

Available

  • Offered by 69% of firms

    Percentage of Assets

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    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 10% of firms

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

Unavailable

  • Find one of the 21% of firms that offer this fee type

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Find one of the 1% of firms that offer this fee type

    Commissions

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    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 26% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 0% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 32% of firms that offer this fee type

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

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Types of Clients

The company works with a number of different clients. It works with retail investors, high net worth investors, investment companies, pooled investment vehicles and corporations. Out of its 3,143 customers, First Trust Advisors Lp's largest client type is investment companies, though it also caters to two high-net-worth individuals. The SEC defines a high-net-worth individual as a person who has at least $750,000 under management or a net worth of at least $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 1% of the company's customers are non-U.S. persons.

  • High-Net-Worth Individuals* - 0.06%
  • Other Individuals - 38.73%
  • Corporations - 61.21%
  • Charitable Organizations - 0%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

First Trust Advisors Lp does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at First Trust Advisors Lp

Eric Holsen
Wheaton, IL
Jonathon Digiovanni
Wheaton, IL
Estefania Gorman
Austin, TX
James Carlson
Wheaton, IL
Eric Montanari
Wheaton, IL
David Kinsey
Austin, TX
Nicholas Laskowsky
Wheaton, IL
Drew Olson
Wheaton, IL
Andrew Jahns
Wheaton, IL

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The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.

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