Carr Financial Group provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, education planning, estate planning, family office services, insurance, philanthropic planning, retirement plan services, and tax planning. Financial planning was provided to 500 clients last fiscal year.
Carr Financial Group reports 625 clients. They include 427 individual clients, 192 high-net-worth individuals, and 6 corporations and other businesses. Of its assets, 100.0% ($836M across 1,675 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 68% | 18% |
| High-net-worth individuals | 31% | 81% |
| Charitable organizations | Fewer than 5 | <1% |
| Corporations and other businesses | <1% | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 427 | $150M | 18.0% | $352K |
| High-net-worth individuals | 192 | $675M | 80.7% | $3.51M |
| Charitable organizations | Fewer than 5 | $4.22M | 0.5% | — |
| Corporations and other businesses | 6 | $6.87M | 0.8% | $1.14M |
| Total | 625 | $836M | 100% | — |
- Clients
- 427
- Regulatory AUM
- $150M
- AUM share
- 18.0%
- Avg. per client
- $352K
- Clients
- 192
- Regulatory AUM
- $675M
- AUM share
- 80.7%
- Avg. per client
- $3.51M
- Clients
- Fewer than 5
- Regulatory AUM
- $4.22M
- AUM share
- 0.5%
- Avg. per client
- —
- Clients
- 6
- Regulatory AUM
- $6.87M
- AUM share
- 0.8%
- Avg. per client
- $1.14M
Total
- Clients
- 625
- Regulatory AUM
- $836M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 500
Carr Financial Group charges up to 2.00% a year for its Wealth Management. The fee is billed in advance. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Family Office Services
- Family office services, provided under the Lucey Advisory Group name, are a negotiable fixed fee of up to $12,000 per month, charged in advance.
- Financial Planning and Consulting
- Stand-alone financial planning and consulting is a negotiable fixed fee ranging from $1,000 to $10,000.
Richard Carr owns 75% or more of Carr Financial Group. The leadership team of Carr Financial Group includes President Richard Carr and Chief Compliance Officer Julie Wagner. It has 9 employees, 7 of them in advisory roles.
Leadership
Richard CarrPresident- Julie WagnerChief Compliance Officer
Benjamin CauleyTreasurer- Andrea LuceySecretary
- Spencer LyonsShareholder
Investment adviser representatives
6 representatives listed in the SEC register as of 9 October 2026.
Staff
- 9 employees
- 7 in advisory functions
- 7 state-registered reps
- 5 insurance agents
- Owns 75% or more of Carr Financial Group Corporation
Richard Carr
Control person · since November 2019
- Owns 10% to 25% of Carr Financial Group Corporation
Benjamin Cauley
Control person · since January 2022
- Owns 10% to 25% of Carr Financial Group Corporation
Andrea Lucey
Control person · since October 2023
- Owns 5% to 10% of Carr Financial Group Corporation
Spencer Lyons
Control person · since July 2025
Carr Financial Group’s regulatory assets grew 1.9× from $437M (June 2022) to $836M (September 2026); clients rose from 439 to 625 and employees from 7 to 9.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $836M | 625 | 9 | 5 |
| July 2025 | $648M | 538 | 9 | 5 |
| February 2024 | $554M | 492 | 8 | 1 |
| April 2023 | $467M | 466 | 8 | 1 |
| June 2022 | $437M | 439 | 7 | 1 |
Besides its headquarters, Carr Financial Group has 4 offices (4 private residences, listed without an address), with 1 listed address in Massachusetts.
Massachusetts · 1 listed address
- 20 Park Avenue, Ste #201, WorcesterHQ
Other business names
Carr Financial Group has reported 1 other business name to the SEC.
- Lucey Advisory Group Dba
Contact and registration details
- Legal name
- Carr Financial Group Corporation
- Headquarters
- 20 Park Avenue, Ste #201, Worcester, MA 01605
- Website
- carrfinancial.com
- Phone
- 508-795-0264
- @carrfinancialgroup
- SEC file
- 801-123187
- Founded
- 2022
- Structure
- Massachusetts corporation
- Fiscal year end
- December
Carr Financial Group uses Charles Schwab ($744M) as custodian for its separately managed accounts. Carr Financial Group has custody of $178M in client assets for 1 client.
- Charles SchwabCharles Schwab · San Francisco, CA · $744M100%
At year end, Carr Financial Group’s separately managed accounts were mostly in funds (62%) and stocks (23%). Its reported 13F holdings for the quarter ended 30 June 2026 total $434M across 182 positions; the largest are Vanguard Total Bond Market ETF (7.3%), Vanguard Dividend Appreciation ETF (7.0%) and iShares MSCI Emerging Markets EX China ETF (6.8%).
What the accounts hold
- Stocks23%
- Funds62%
- Bonds6%
- U.S. government and agency bonds5%
- State and local bonds1%
- Cash9%
Reported 13F holdings
- $434M
- Reported 13F value
- 182
- Positions
- 48.8%
- In the 10 largest
- +14.6%
- Value vs. prior quarter
- Vanguard Total Bond Market ETFETF7.3%
- Vanguard Dividend Appreciation ETFETF7.0%
- iShares MSCI Emerging Markets EX China ETFETF6.8%
- iShares MSCI Intl Quality Factor ETFETF6.5%
- JPMORGAN Hedged Equity Laddered Overlay ETFETF4.1%
- Vanguard Morningstar Total Stock Market ETFETF4.0%
- iShares 0-5 Year High Yield Corporate Bond ETFETF3.7%
- iShares MSCI USA Quality Garp ETFETF3.5%
- Invesco Qqq Trust Series IETF3.4%
- iShares Core S&P Mid-cap ETFETF2.5%
Together, the ten largest are 48.8% of reported value.
How many clients does Carr Financial Group have?
Carr Financial Group has 625 clients and manages $836 million for them, as of September 2026. They include 427 individual clients, 192 high-net-worth individuals, and 6 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 September 2026
What services does Carr Financial Group offer?
Carr Financial Group provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, education planning, estate planning, family office services, insurance, philanthropic planning, retirement plan services, and tax planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Carr Financial Group charge?
Carr Financial Group charges up to 2.00% a year for its Wealth Management. The fee is billed in advance.
Which custodians does Carr Financial Group use?
Carr Financial Group’s separately managed account assets are held at Charles Schwab (San Francisco, CA), with $744M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 September 2026
How many financial advisors does Carr Financial Group have?
Carr Financial Group has 7 investment adviser representatives registered with state securities authorities, out of 9 employees, and 7 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 5 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Carr Financial Group invest in?
At the end of its last fiscal year, Carr Financial Group’s separately managed accounts held 62% registered funds (mutual funds, ETFs, BDCs), 23% exchange-traded equities, 9% cash and equivalents, 5% U.S. government and agency bonds and 1% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Carr Financial Group?
Carr Financial Group’s direct owners are Benjamin Cauley (10% to 25%), Richard Carr (75% or more), Andrea Lucey (10% to 25%) and Spencer Lyons (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 30 September 2026
How does Carr Financial Group get paid?
Carr Financial Group is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Carr Financial Group?
Carr Financial Group’s main office is at 20 Park Avenue, Ste #201, Worcester, MA 01605. Its phone number is 508-795-0264. Its website is carrfinancial.com.