DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
True Wave Financial Planners
Legal name Lucas Group Financial Planners, Inc.
Latest filing Aug 19, 2026
First filing on the tape Mar 1, 2018 · 18 filings
SEC status approved since Apr 2, 2018
RAUM
$456M
reported, Item 5.F
Discretionary
93%
of RAUM
Private clients
88%
$402M individuals and HNW
Advisors
3
registered through the firm on IAPD
RAUM per advisor
$152M
derived; firm RAUM over IAPD count
Employees
6
3 advisory (5.B.1)
Offices
1
beyond the principal office
Private funds
0
reported on Schedule D
History
18 filings and snapshots on the tape
RAUM$456M as of Aug 19, 2026
Feb 28, 2019$131M then
HNW client RAUM$292M as of Aug 19, 2026
Feb 28, 2019$61.2M then
State-registered IARs (5.B.3)3 as of Aug 19, 2026
Feb 28, 20193 then
Employees (5.A)6 as of Aug 19, 2026
Feb 28, 20196 then
Private funds: no history
RAUM +22% over the last fiscal year+22% a year over threeIARs 4 to 3
Practice profile
derived from the filing of Aug 19, 2026; every figure names its basis
Archetypes, each a printed rule
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients
- RAUM per advisor
- $152MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 307derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.1MderivedHNW RAUM over HNW clients
- Average account
- $316,104derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 93%derivedof RAUM
- Institutional
- 9.5%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.0derivedItem 5.A over advisors
- Advisors per office
- 1.5derived2 offices incl. principal (1.F.5)
- RAUM growth, one year
- +22%derivedbetween the last two annual amendments
- Advisor growth, one year
- -25%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +102%derived
- Compensation
- percentage of assets, hourly, fixed fees, otherreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, pension consulting, selection of other advisersreportedItem 5.G
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- compensates persons for client referrals (8.G.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$292M64%
- Individuals$110M24%
- Pension and profit-sharing plans$40.2M8.8%
- Corporations and businesses$10.9M2.4%
- Charitable organizations$3.1M0.7%
- Individual clients
- 656reported
- HNW clients
- 266reported
- Pension plan clients
- 27reported
- Charitable clients
- n/areported
- Accounts
- 1,444reported
- Financial planning clients
- 251-500reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.88 fund_share=0.0 institutional_share=0.09 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
3 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Paola Montserrat Quintero Salazar | Sacramento, Ca | Sep 4, 2023 | 12 y | 0 |
| Matthew Maguire PageCertified Financial Planner | Sacramento, Ca | Jan 24, 2025 | 22 y | 2 |
| Todd Royce HadleyCertified Financial Planner | Sacramento, Ca | Nov 26, 2025 | 39 y | 1 |
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- Matthew Peter Jude to Rebalance LLCJul 5, 2023 · RIA to RIA
- Eugene Kwok Hung Hsu to LPL Financial LLCMay 9, 2011 · Other
Joined, latest
- Todd Royce Hadley from Cetera Investment Advisers LLCNov 26, 2025 · Other
- Matthew Maguire Page from Capital Planning Advisors LLCJan 24, 2025 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Alan Gregory Lucas · President & Ceocontrolsince 01/2004 · owns 75% or more
- Maguire Matthew Page · Shareholdercontrolsince 04/2016 · owns 10% to 25%
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Sacramento, Ca · principal | 3 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
- Carmichael, CA1 employees
ADV anomalies
4 against comparable advisers; where to look, not conclusions
- very high RAUM per advisorStatic outlier · filing Aug 19, 2026RAUM per registered advisor of $152,151,564 against a peer median of $55,731,856 (3254 comparable advisers, 99.0th percentile, 3.4 robust deviations)peers: independent wealth managers, $100M to $500M (3,254) · 99% percentile
- unusually high clients per advisorStatic outlier · filing Aug 19, 2026private clients per advisor of 307.3 against a peer median of 57.3 (3076 comparable advisers, 99.0th percentile, 7.1 robust deviations)peers: independent wealth managers, $100M to $500M (3,076) · 99% percentile
- HNW share shiftChange between filings · filing Jan 23, 2026HNW share of RAUM moved from 37.0% to 64.0% between the annual amendments of 2025-01-22 and 2026-01-23peers: independent wealth managers, $100M to $500M (5,676)
- client count surgeChange between filings · filing Jan 23, 2026individual and HNW clients (Item 5.D) moved from 456.0 to 922.0 (+102.0%) between the annual amendments of 2025-01-22 and 2026-01-23; the peer median change was +3.0% (3309 comparable advisers, 99.0th percentile of changes)peers: independent wealth managers, $100M to $500M (3,309) · 99% percentile
What changed
consecutive filings, newest first
- Business name · TRUE WAVE WEALTH PLANNERS to TRUE WAVE FINANCIAL PLANNERSJan 23, 2026 to Aug 19, 2026
- Accounts · 1,110 to 1,444Jul 3, 2025 to Jan 23, 2026
- Business name · LUCAS GROUP FINANCIAL PLANNERS, INC. to TRUE WAVE WEALTH PLANNERSJul 3, 2025 to Jan 23, 2026
- Charity clients · 0.0 to unsetJul 3, 2025 to Jan 23, 2026
- Corporate clients · 0 to 7Jul 3, 2025 to Jan 23, 2026
- HNW clients · 66 to 266Jul 3, 2025 to Jan 23, 2026
- Individual clients · 390 to 656Jul 3, 2025 to Jan 23, 2026
- Pension plan clients · 29 to 27Jul 3, 2025 to Jan 23, 2026
- Employees · 5 to 6Jul 3, 2025 to Jan 23, 2026
- Financial planning clients · 0 to 251-500Jul 3, 2025 to Jan 23, 2026
- Discretionary RAUM · $344M to $425MJul 3, 2025 to Jan 23, 2026
- HNW RAUM · $139M to $292MJul 3, 2025 to Jan 23, 2026
- Individual RAUM · $183M to $110MJul 3, 2025 to Jan 23, 2026
- Non-discretionary RAUM · $30.3M to $31.8MJul 3, 2025 to Jan 23, 2026
- Pension RAUM · $52.3M to $40.2MJul 3, 2025 to Jan 23, 2026
- RAUM · $375M to $456MJul 3, 2025 to Jan 23, 2026
- Advisory employees · 4 to 3Jan 22, 2025 to Jul 3, 2025
- Employees · 6 to 5Jan 22, 2025 to Jul 3, 2025
- Financial planning clients · 0 to 0Jan 22, 2025 to Jul 3, 2025
- State-registered IARs · 4 to 3Jan 22, 2025 to Jul 3, 2025
- State-registered IARs · 3 to 4Jan 23, 2024 to Jan 22, 2025
- Accounts · 1,084 to 1,110Jan 23, 2024 to Jan 22, 2025
- Advisory employees · 3 to 4Jan 23, 2024 to Jan 22, 2025
- Charity clients · unset to 0.0Jan 23, 2024 to Jan 22, 2025
- HNW clients · 43 to 66Jan 23, 2024 to Jan 22, 2025
- Individual clients · 381 to 390Jan 23, 2024 to Jan 22, 2025
- Pension plan clients · 38 to 29Jan 23, 2024 to Jan 22, 2025
- Employees · 3 to 6Jan 23, 2024 to Jan 22, 2025
- Financial planning clients · 251-500 to 0Jan 23, 2024 to Jan 22, 2025
- Discretionary RAUM · $303M to $344MJan 23, 2024 to Jan 22, 2025
- HNW RAUM · $121M to $139MJan 23, 2024 to Jan 22, 2025
- Individual RAUM · $180M to $183MJan 23, 2024 to Jan 22, 2025
- Non-discretionary RAUM · $25.0M to $30.3MJan 23, 2024 to Jan 22, 2025
- Pension RAUM · $25.0M to $52.3MJan 23, 2024 to Jan 22, 2025
- RAUM · $328M to $375MJan 23, 2024 to Jan 22, 2025
- Accounts · 786 to 1,084Jan 10, 2023 to Jan 10, 2024
- Charity clients · 0.0 to unsetJan 10, 2023 to Jan 10, 2024
- HNW clients · 41 to 43Jan 10, 2023 to Jan 10, 2024
- Individual clients · 376 to 381Jan 10, 2023 to Jan 10, 2024
- Pension plan clients · 15 to 38Jan 10, 2023 to Jan 10, 2024
Signals
2 dated events
- Matthew Peter Jude left True Wave Financial Planners for Rebalance Llc (registered 2023-07-20)Jul 5, 2023 · Advisor changed firm · fact
- Lucas Group Financial Planners, Inc. filed its initial SEC registration (Form ADV)Mar 1, 2018 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Business phone
- 916-921-2625reportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 916-921-9220reportedpublished by the firm, firm site, Sep 16, 2026
- Website
- truewavefinancial.comreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 916-921-9220reportedpublic record, Form ADV, Aug 19, 2026
- Contact form
- truewavefinancial.com/contactreportedpublished by the firm, firm site, Sep 16, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $152Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026