# Lucas Group Financial Advisors, LLC

> Lucas Group Financial Advisors, LLC is an SEC-registered investment advisory firm in Freeport, IL, registered since 2024, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 326880
- Filed as: LUCAS GROUP FINANCIAL ADVISORS, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Freeport, IL
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/326880
- AdvisorCensus page: https://advisorcensus.com/firm/lucas-group-financial-advisors-llc-freeport-il-326880

## Quick answers

**How is Lucas Group Financial Advisors, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Lucas Group Financial Advisors, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**Where is Lucas Group Financial Advisors, LLC located?**
Lucas Group Financial Advisors, LLC's principal office is in Freeport, IL, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Lucas Group Financial Advisors, LLC registered with the SEC or a state?**
Lucas Group Financial Advisors, LLC is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 326880.

**How much does Lucas Group Financial Advisors, LLC manage?**
Lucas Group Financial Advisors, LLC reports $337,658,673 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (87% discretionary).

**How have Lucas Group Financial Advisors, LLC's assets and staff changed since 2025?**
In the Form ADV data for Lucas Group Financial Advisors, LLC: Regulatory assets under management: $118,257,513 in the October 2025 data and $337,658,673 in the October 2026 data, up 186%. Total employees: 2 in October 2025 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Lucas Group Financial Advisors, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (340); high net worth individuals (76); charitable organizations (7).

**Which custodians does Lucas Group Financial Advisors, LLC use?**
Lucas Group Financial Advisors, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Lucas Group Financial Advisors, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/326880

**Does Lucas Group Financial Advisors, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 30, 2026 says: "LGFA generally requires a minimum account size of $300,000 for Investment Management Services."

**What changed in Lucas Group Financial Advisors, LLC's recent Form ADV filings?**
In the January 2026 filing data: No longer registered or notice-filed in NE.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 30, 2026)

- Account minimum: $300,000

> LGFA generally requires a minimum account size of $300,000 for Investment Management Services.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $337,658,673
- Discretionary: $292,381,105
- Non-discretionary: $45,277,568

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 340 | $130,966,099 |
| High net worth individuals | 76 | $194,568,385 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 7 | $12,044,823 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 6 | $79,366 |
| Other | 0 | Not reported |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2024 (1 year)
- Employees: 9 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL, IA, IL, NH, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Rockford, IL

### Websites listed on Form ADV (Item 1.I)
- lucasgroupfinancial.com
- Facebook facebook.com
- LinkedIn @lucas-group-financial-advisors

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2025 | $118,257,513 | 2 | February 7, 2025 |
| October 2026 | $337,658,673 | 9 | March 30, 2026 |

Regulatory assets under management: $118,257,513 in the October 2025 data and $337,658,673 in the October 2026 data, up 186%.
Total employees: 2 in October 2025 and 9 in October 2026.

## Changes in the filing (last 12 months)

### January 2026
- No longer registered or notice-filed in NE.

### December 2025
- Changed its legal name from Wallem Associates, Inc. to Lucas Group Financial Advisors, LLC.
- Employees performing advisory functions went from 2 to 7.
- Regulatory assets under management went from $118,257,513 to $328,970,832 (+178%).
- Registered or notice-filed in IA, NE, NH.

### November 2025
- No longer lists an office in Loves Park, IL.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Lucas Group Financial Advisors, LLC (CRD 326880): Form ADV filing data as of October 2026.