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
Lucas Group Financial Advisors, LLC
Latest filing Mar 30, 2026
First filing on the tape Nov 8, 2024 · 6 filings
SEC status approved since Dec 10, 2024
RAUM
$338M
reported, Item 5.F
Discretionary
87%
of RAUM
Private clients
96%
$326M individuals and HNW
Advisors
7
registered through the firm on IAPD
RAUM per advisor
$48.2M
derived; firm RAUM over IAPD count
Employees
9
7 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
6 filings and snapshots on the tape
RAUM$338M as of Mar 30, 2026
Feb 7, 2025$118M then
HNW client RAUM$195M as of Mar 30, 2026
Feb 7, 2025$78.5M then
State-registered IARs (5.B.3)7 as of Mar 30, 2026
Feb 7, 20252 then
Employees (5.A)9 as of Mar 30, 2026
Feb 7, 20252 then
Private funds: no history
RAUM +186% over the last fiscal yearIARs 2 to 7offices 0 to 2
Practice profile
derived from the filing of Mar 30, 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
- RAUM per advisor
- $48.2MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 59derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.6MderivedHNW RAUM over HNW clients
- Average account
- $287,125derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 87%derivedof RAUM
- Institutional
- 3.6%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.3derivedItem 5.A over advisors
- Advisors per office
- 2.3derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +186%derivedbetween the last two annual amendments
- Advisor growth, one year
- +250%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +148%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisersreportedItem 5.G
- Custody
- $97.4M, 222 clientsreportedItem 9.A
- 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
- is an insurance broker or agent (6.A.6)
- 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)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$195M58%
- Individuals$131M39%
- Charitable organizations$12.0M3.6%
- Corporations and businesses$79,3660.0%
- Individual clients
- 340reported
- HNW clients
- 76reported
- Pension plan clients
- 0reported
- Charitable clients
- 7reported
- Accounts
- 1,176reported
- Financial planning clients
- 1-10reported
- Wrap fee programs
- noreported
- Custody of client assets
- $97.4M for 222 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.96 fund_share=0.0 institutional_share=0.04 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
7 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Jeffery Paul WallemCertified Financial Planner | Freeport, Il | Jan 12, 2024 | 32 y | 2 |
| Michael Edward SullivanCertified Financial Planner | Freeport, Il | Jan 12, 2024 | 32 y | 3 |
| Lucas Arthur BegginCertified Financial Planner | Freeport, Il | Aug 22, 2025 | 16 y | 2 |
| Katherine Alicia DowningCertified Financial Planner | Rockford, Il | Aug 22, 2025 | 12 y | 2 |
| Todd Thomas Reno | Rockford, Il | Aug 25, 2025 | 10 y | 1 |
| Andrew Lee Stewart | Freeport, Il | Aug 25, 2025 | 10 y | 2 |
| Aaron Scibona | Freeport, Il | Aug 26, 2025 | 15 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
none on the tape
Joined, latest
- Andrew Lee Stewart from Regal Investment Advisors LLCAug 25, 2025 · Affiliated broker-dealer or bank to independent RIA
- Todd Thomas Reno from Regal Investment Advisors LLCAug 25, 2025 · Affiliated broker-dealer or bank to independent RIA
- Lucas Arthur Beggin from Regal Investment Advisors LLCAug 22, 2025 · Affiliated broker-dealer or bank to independent RIA
- Katherine Alicia Downing from Regal Investment Advisors LLCAug 22, 2025 · Affiliated broker-dealer or bank to independent RIA
- Michael Edward Sullivan from Cambridge Investment Research Advisors, Inc.Jan 12, 2024 · Affiliated broker-dealer or bank to independent RIA
- Jeffery Paul Wallem from Cambridge Investment Research Advisors, Inc.Jan 12, 2024 · Affiliated broker-dealer or bank to independent RIA
Teams: two or more advisors moving together within fourteen days, from one state
- 4 joined from Regal Investment Advisors LLCOct 7, 2025 · Rockford, Il
- 2 joined from Cambridge Investment Research Advisors, Inc.Jan 12, 2024 · Loves Park, Il
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Edward Michael Sullivan · Co-Owner | Chief Compliance Officercontrolsince 05/2023 · owns 50% to 75%
- Paul Jeffery Wallem · Co-Owner | Directorcontrolsince 05/2023 · owns 50% to 75%
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 |
|---|---|---|---|---|---|
| Freeport, Il · principal | 7 | 0 | 0 | ||
| Rockford, Il | 4 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
4 against comparable advisers; where to look, not conclusions
- account count surgeChange between filings · filing Mar 30, 2026accounts (Item 5.F.2.f) moved from 459.0 to 1,176.0 (+156.0%) between the annual amendments of 2025-02-07 and 2026-03-30; the peer median change was +5.0% (3688 comparable advisers, 99.0th percentile of changes)peers: independent wealth managers, $100M to $500M (3,688) · 99% percentile
- client count surgeChange between filings · filing Mar 30, 2026individual and HNW clients (Item 5.D) moved from 168.0 to 416.0 (+148.0%) between the annual amendments of 2025-02-07 and 2026-03-30; the peer median change was +3.0% (3310 comparable advisers, 99.0th percentile of changes)peers: independent wealth managers, $100M to $500M (3,310) · 99% percentile
- discretionary share shiftChange between filings · filing Mar 30, 2026discretionary share of RAUM moved from 70.0% to 87.0% between the annual amendments of 2025-02-07 and 2026-03-30peers: independent wealth managers, $100M to $500M (5,676)
- RAUM up 50 %Change between filings · filing Mar 30, 2026RAUM (Item 5.F) moved from $118,257,513 to $337,658,673 (+186.0%) between the annual amendments of 2025-02-07 and 2026-03-30; the peer median change was +15.0% (4551 comparable advisers, 100.0th percentile of changes)peers: independent wealth managers, $100M to $500M (4,551) · 100% percentile
What changed
consecutive filings, newest first
- Accounts · 1,115 to 1,176Dec 10, 2025 to Mar 30, 2026
- Charity clients · 6 to 7Dec 10, 2025 to Mar 30, 2026
- HNW clients · 77 to 76Dec 10, 2025 to Mar 30, 2026
- Individual clients · 335 to 340Dec 10, 2025 to Mar 30, 2026
- Assets in custody · $123M to $97.4MDec 10, 2025 to Mar 30, 2026
- Discretionary RAUM · $279M to $292MDec 10, 2025 to Mar 30, 2026
- HNW RAUM · $187M to $195MDec 10, 2025 to Mar 30, 2026
- Individual RAUM · $120M to $131MDec 10, 2025 to Mar 30, 2026
- Non-discretionary RAUM · $49.6M to $45.3MDec 10, 2025 to Mar 30, 2026
- RAUM · $329M to $338MDec 10, 2025 to Mar 30, 2026
- Accounts · 1,070 to 1,115Aug 20, 2025 to Oct 30, 2025
- Charity clients · 7 to 6Aug 20, 2025 to Oct 30, 2025
- Corporate clients · 12 to 6Aug 20, 2025 to Oct 30, 2025
- HNW clients · 81 to 77Aug 20, 2025 to Oct 30, 2025
- Individual clients · 339 to 335Aug 20, 2025 to Oct 30, 2025
- Assets in custody · unset to 122737220.0Aug 20, 2025 to Oct 30, 2025
- Custody of client assets · false to trueAug 20, 2025 to Oct 30, 2025
- Insurance-licensed employees · 4 to 0Aug 20, 2025 to Oct 30, 2025
- Financial planning clients · 0 to 1-10Aug 20, 2025 to Oct 30, 2025
- Other offices · 3 to 2Aug 20, 2025 to Oct 30, 2025
- Discretionary RAUM · $266M to $279MAug 20, 2025 to Oct 30, 2025
- HNW RAUM · $196M to $187MAug 20, 2025 to Oct 30, 2025
- Individual RAUM · $106M to $120MAug 20, 2025 to Oct 30, 2025
- Non-discretionary RAUM · $58.5M to $49.6MAug 20, 2025 to Oct 30, 2025
- RAUM · $325M to $329MAug 20, 2025 to Oct 30, 2025
- Accounts · 459 to 1,070Feb 7, 2025 to Aug 20, 2025
- Advisory employees · 2 to 7Feb 7, 2025 to Aug 20, 2025
- Business name · WALLEM ASSOCIATES, INC. to LUCAS GROUP FINANCIAL ADVISORS, LLCFeb 7, 2025 to Aug 20, 2025
- Charity clients · 0 to 7Feb 7, 2025 to Aug 20, 2025
- Corporate clients · 0 to 12Feb 7, 2025 to Aug 20, 2025
- HNW clients · 41 to 81Feb 7, 2025 to Aug 20, 2025
- Individual clients · 127 to 339Feb 7, 2025 to Aug 20, 2025
- Employees · 2 to 9Feb 7, 2025 to Aug 20, 2025
- Insurance-licensed employees · 0 to 4Feb 7, 2025 to Aug 20, 2025
- HQ city · LOVES PARK to FREEPORTFeb 7, 2025 to Aug 20, 2025
- State-registered IARs · 2 to 7Feb 7, 2025 to Aug 20, 2025
- Legal name · WALLEM ASSOCIATES, INC. to LUCAS GROUP FINANCIAL ADVISORS, LLCFeb 7, 2025 to Aug 20, 2025
- Other offices · 0 to 3Feb 7, 2025 to Aug 20, 2025
- Organization form · Corporation to Limited Liability CompanyFeb 7, 2025 to Aug 20, 2025
- Discretionary RAUM · $82.2M to $266MFeb 7, 2025 to Aug 20, 2025
Signals
4 dated events
- 4 advisors left Regal Investment Advisors LLC (Rockford, IL) for Lucas Group Financial Advisors, LLC on the same dayOct 7, 2025 · Team lift-out · derived
- Lucas Group Financial Advisors, Llc reported RAUM $324.8M, up 175% from $118.3M (2025-02-07 to 2025-08-20)Aug 20, 2025 · RAUM change · derived
- Wallem Associates, Inc. filed its initial SEC registration (Form ADV)Nov 8, 2024 · First SEC registration · fact
- 2 advisors left Cambridge Investment Research Advisors, Inc. (Belvidere, IL) for Lucas Group Financial Advisors, LLC on the same dayJan 12, 2024 · Team lift-out · derived
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 email
- info@lucasgroupfinancial.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 815-235-9610reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 815-235-9650reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 815-964-3601reportedpublished by the firm, firm site, Sep 15, 2026
- Website
- LUCASGROUPFINANCIAL.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 815-235-9610reportedpublic record, Form ADV, Mar 30, 2026
- Team page
- lucasgroupfinancial.com/team-member-01/lucas-begginreportedpublished by the firm, firm site, Sep 15, 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
- $48.2Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026