Lucia Wealth Services, LLC (San Diego)

Name: Lucia Wealth Services, LLC
Address: 13520 Evening Creek Drive, N., San Diego, CA, 92128
Telephone: 800-644-1150

Lucia Wealth Services, LLC is a large advisory firm based in San Diego. It manages $1.29 billion of regulatory assets for 5,963 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 47 other states.

Lucia Wealth Services provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and educational seminars and workshops. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Lucia Wealth Services: assets under management

The assets under management (AUM) of Lucia Wealth Services, LLC is $1.29 billion. The firm's AUM has grown by 159% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $899.7 million in discretionary accounts and $390.38 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $270.51 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $148.04 thousand.

Lucia Wealth Services has custody of $889.12 million in cash and securities for 3,601 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 48% of the total AUM. The second-largest asset type is investment and business development companies, which make up 36% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Lucia Wealth Services, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Joseph Paul Lucia serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Joseph Paul Lucia is individuals with 3,253 clients and $648.16 million of assets under management. Among the 14 most similar advisory firms, Lucia Wealth Services has the 4th highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $1.29 billion for 4,103 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Lucia Wealth Services doesn't advise any private funds.

Careers at Lucia Wealth Services, LLC

The company employs 75 people that are either part- or full-time employees. 35 percent of the employees work as investment advisers or researchers. 29 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Joseph Paul Lucia has been acting as President since 1 Jan 2013. Viktoria Irena Palermo joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Theresa Jean Ochs	Chief compliance officer	1 Jan 2010	Other	4064049
Raymond Joseph Lucia	Managing member/ chairman	1 Jan 2010	75% - 100%	4504365
Llc Lucia Capital Group	Llc	1 Jan 2010	75% - 100%	27-1729008
Joseph Paul Lucia	President	1 Jan 2013	Other	4945945
Stephanie Lee Pimentel	Cfo	1 Jan 2014	Other	5160645
Derek Jerold Bruton	Ceo	1 Jul 2014	Other	2287900
Viktoria Irena Palermo	Chief compliance officer	1 Mar 2018	Other	4769903

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Joseph Paul Lucia	Member	1 Jun 2013	25% - 50%	4945945

Based in San Diego

The principal office where Lucia Wealth Services, LLC performs its advisory services is located at 13520 Evening Creek Drive, N., San Diego, CA 92128, which is also the mailing address of the firm. An additional office of the firm is in Ontario, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 800-644-1150 or by fax 858-519-8931. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at luciacap.com/.