LUCAS GROUP FINANCIAL ADVISORS, LLC

Form CRS

August 2025

Introduction 

Lucas Group Financial Advisors, LLC is registered with the Securities and Exchange Commission as an investment advisor. Fees for brokerage and investment advisory services differ among broker-dealers and investment advisors and it is important you understand the differences. Free and simple tools are available to research firms and financial professionals at https://www.investor.gov/CRS which also provides educational materials about broker­ dealers, investment advisors, and investing.

 

 

What investment services and advice can you provide me?

We offer wealth management services to retail investors, which include financial planning and portfolio management services. We provide periodic advice and reviews regarding your investment goals and objectives, personal balance sheet, tax planning, risk management, retirement, education, cash flow and investment planning. In our portfolio management services, we will continuously monitor your investment accounts over which you provide us with such authority and provide advice. In your investment advisory agreement with us, you give us discretion to determine the investments to buy and sell on your behalf and the authority to select other investment advisers on your behalf, which means we will make the ultimate decision regarding the investments purchased and sold in your account. You may impose reasonable restrictions on our discretionary authority. Any restrictions must be provided to us in writing and accepted by us. As part of portfolio management services, we will continuously monitor your investments. We require a minimum initial and ongoing account size for portfolio management services.

We will discuss the following questions with you to help you better understand the relationship you will have with our firm: Given my financial situation, should I choose an investment advisory service? Why or why not? How will you choose investments to recommend to me? What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean?

Please refer to our Form ADV, Part 2A Brochure for more detailed information on our services.

 

What fees will I pay?

We charge fees for our advisory services and those fees vary among the different types of services we offer. We charge a percentage of assets under management for portfolio management services. These fees are assessed on a quarterly basis, in advance. You should be aware that the more assets there are in your account, the more you will pay in fees. This means we have an incentive to encourage you to increase the assets in your account. Alternatively, for clients who do not want portfolio management, we charge an hourly or fixed fee for financial planning services. In addition to our fees, you may incur additional fees and costs related to the investments in your account, such as custodian fees, account maintenance fees, transaction costs, surrender charges, wire transfer and electronic fund fees, internal management fees of mutual funds and variable annuities, and other product related fees such as redemption fees.

We will discuss the following question with you to help you better understand the impact of fees and costs.on investments: Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?

You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. You should carefully review our Form ADV, Part 2A Brochure to understand the fees and costs you will pay to us.

 

What are your legal obligations to me when acting as my investment advisor? How else does your firm make money and what conflicts of interest do you have?

When we act as your investment advisor, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. Here are some examples to help you understand what this means:

  • We recommend mutual funds whose investment companies provide us with educational information and software that provides information helpful in our investment advice process. This is a conflict because we have an incentive to recommend mutual funds that provide us with these tools.
  • Fidelity, Schwab, Pershing, and Focus Partners Advisor Solutions make available to us other products and services that benefit us but may not directly benefit the client or its account. These products and services assist us in managing and administering our client accounts. They include investment research to service all of some of the substantial number of our clients’ accounts, including accounts not maintained at these companies. In addition to investment research, Fidelity, Schwab, Focus Partners Advisor Solutions, and Pershing also make available software and other technology.
  • We are affiliated with the accounting firm, Lucas Group CPAs + Advisors, PLLC. Lucas Group CPAs + Advisors, PLLC may recommend us to accounting clients in need of advisory services, and Lucas Group Financial Advisors may recommend Lucas Group CPA & Advisors, PLLC. to advisory clients in need of accounting services. We have an incentive to recommend our affiliate to you which is a conflict of interest.

 

We will discuss the following question with you to help you better understand the conflicts of interest we have: How might your conflicts of interest affect me, and how will you address them?

You should carefully review our Form ADV.1 Part 2A Brochure for more detailed , information about our conflicts of interest.

 

How do your financial professionals make money?

Our financial professionals receive a salary and income based on the assets that they manage, as well as a discretionary bonus on performance and the success of the firm.

 

Do you or your financial professionals have legal or disciplinary history?

No, please visit Investor.gov/CRS for a free and simple search tool to research our firm and your financial professional.

We will discuss the following questions with you to help you better understand our disciplinary history: As a financial professional, do you have any disciplinary history? For what type of conduct?

 

Additional Information

You can find additional information about our advisory services in our Form ADV Part 2A Brochure and may request up-to-date information and a copy of our Relationship Summary by contacting us at 815-964-9955.

We will discuss the following questions with you so that you better understand who to contact with any questions or complaints: Who is my primary contact person? Is he or she a representative of an investment advisor or a brokerdealer? Who can I talk to if I have concerns about how this person is treating me?

 

Material Changes to Lucas Group Financial Advisors Form CRS as of August 20, 2025

Effective August 20, 2025, Lucas Group Financial Advisors, LLC, acquired Wallem Associates, Inc. and changed their name to reflect the acquisition. On page two in the section describing our legal obligations and our conflicts of interest, we added Fidelity as a broker; mention of services received as part of affiliation with Focus Partners Advisor Solutions; an update to the compensation that our financial advisors receive which includes income based on assets they manage; and a conflict with an affiliated CPA firm.