Ray Lucia

Ray Lucia

Ray Lucia speaking at Sean Hannity's Freedom Concert in San Diego, California, August 28, 2010.
Born (1950-04-03) April 3, 1950
Philadelphia, Pennsylvania
Residence San Diego, California
Nationality American
Occupation Certified Financial Planner, Registered Investment Advisor, author, radio personality television host
Known for The Ray Lucia Show
Spouse(s) Jeanne Lucia
Website www.RayLucia.com

Raymond Joseph Lucia, Sr. is an American former Certified Financial Planner,[1] former Registered Investment Advisor,[2] author, radio personality and television host.[3] He is host of The Ray Lucia Show, a nationally syndicated radio and television financial talk show on the Global American Broadcasting Radio Network[4] and the Biz Television Network.[5]

On July 8, 2013, The United States Securities and Exchange Commission (SEC) banned him from associating with an investment adviser, broker or dealer, revoked his license and that of his former company, and slapped both with a fine -- $50,000 to Lucia and $250,000 to his former firm.[6]

Early life, education, personal life

Lucia was born in Philadelphia, Pennsylvania. His family moved to Poway, California when Lucia was ten years old.[3] He went to Palomar College on a football scholarship and earned a teaching degree.[7] Before becoming a financial advisor, Lucia was a high school teacher and football coach, and also played guitar and sang in a rock band. Lucia and his wife have four children.[3][8]

Financial advisor

Lucia founded the Raymond J. Lucia Companies, Inc. and was the company's President and CEO for over twenty years.[9] Registered Rep Magazine named Lucia as one of the "Top 100 Independent Financial Advisors in America" in 2008,[10] and he was one of ten financial advisors recognized in the magazine's 2004 "Outstanding Broker Awards."[11]

On September 5, 2012, the SEC alleged that Ray Lucia spread misleading information about his Buckets of Money strategy at a series of investment seminars.[12] Lucia had assured investors that his strategies had been backtested during bear markets. The SEC contended that the only backtesting Lucia performed were some "calculations made in the late 1990s and two two-page spreadsheets."

On July 9, 2013, an administrative judge ordered Lucia to pay $50,000, finding that Lucia's claims that his strategy had been empirically backtested were false.[13] The administrative judge barred Lucia from associating with any investment advisor or broker, stripped Raymond J. Lucia Companies Inc. of its investment adviser registration, and fined the company $250,000. As of August 6, 2016, review of the SEC's decision is still pending before the Court of Appeals for the DC Circuit.[14] Counsel for Lucia indicated that should the DC Circuit side with the SEC, they would take up the issue with the Supreme Court.[15]

As of 1/3/2015, Ray Lucia Senior’s FINRA Broker Check record details 21 Customer Disputes, 8 of which are still pending as of 1/3/15. Five of these are from 2012, Six 2013 and Eight from 2104. Ten of the Eleven “Settled” Claims and Seven of the Eight “Pending” Claims are for “Real Estate Securities.” [16]

Writing

Lucia is author of three books focusing on retirement investment strategies, with co-author Dale Fetherling:

Radio and Television

In 1990, The Ray Lucia Show began airing on radio station KFMB (AM) in San Diego. From 2000-2011, the show was nationally syndicated on the Business Talk Radio Network. Currently it can be heard on the Global American Broadcasting Network[20] In 2009, Talkers Magazine named Lucia as one of the "100 Most Important Radio Talk Show Hosts in America."[21] Lucia is also a frequent guest on the Sean Hannity Show.[22] In September 2010 The Ray Lucia Show was picked up for television by the Biz Television Network.[5] In addition to his own show, Lucia has appeared on ABC's Good Morning America,[23] Fox News Channel's Your World With Neil Cavuto and The Cost of Freedom[24] and CNBC's On The Money.[25]

References

  1. ↑
  2. ↑ Investment Adviser Representative Report for Ray Lucia, Investment Adviser Public Disclosure, retrieved June 18, 2014 (Searching 'Advisors' for "Raymond Lucia")
  3. 1 2 3 Mike Kinosian (2005). "A Ray of Hope" (PDF). Inside Radio Magazine. Retrieved 2010-10-12.
  4. ↑ The Ray Lucia Show. GAB Radio. Retrieved 2012-02-21.
  5. 1 2 Ray Lucia joins Biz Television. Biz Television. Retrieved 2010-09-27.
  6. ↑ http://www.sandiegoreader.com/weblogs/news-ticker/2013/jul/08/radios-ray-lucia-banned-from-securities-industry/
  7. ↑ Insight Spring 2009. Palomar College. Retrieved 201-10-07.
  8. ↑ Profile: Ray Lucia. San Diego Magazine. Retrieved 2010-10-07.
  9. ↑ RJL Wealth Management - Independent Financial Services. RJL Wealth Management. Retrieved 2010-10-07.
  10. ↑ America's Top 100 Independent Investment Advisors. Registered Rep Magazine. Retrieved 2010-10-07.
  11. ↑ Whom Do You Trust. Registered Rep Magazine. Retrieved 2010-10-07.
  12. ↑ SEC Charges Radio Personality for Conducting Misleading Investment Seminars. Securities and Exchange Commission. 2012-09-05.
  13. ↑ . "San Diego Daily Transcript". Retrieved 2013-07-09
  14. ↑ BREAKING NEWS: Supreme Court Declines to Address the Constitutionality of Securities and Exchange Administrative Forum. orrick. Retrieved 2016-08-06.
  15. ↑ Oral Argument for Raymond J. Lucia Companies, In v. SEC. Court Listener. Retrieved 2016-08-06.
  16. ↑ RAYMOND J. LUCIA CRD# 1073284
  17. ↑ The Buckets of Money Retirement Solution: The Ultimate Guide to Income for Life. John Wiley and Sons, Inc. Retrieved 2010-10-12.
  18. ↑ Author Biography: Raymond J. Lucia. Hay House, Inc. Retrieved 2010-10-12.
  19. ↑ Buckets of Money: How to Retire in Comfort and Safety. John Wiley and Sons, Inc. Retrieved 2010-10-12.
  20. ↑ The Ray Lucia Show on the GAB Network. GAB Radio Network. Retrieved 2012-02-21.
  21. ↑ 2009 Talkers 250 Featuring the Heavy Hundred: The 100 Most Important Radio Talk Show Hosts in America. Talkers Magazine. Retrieved 2010-10-07.
  22. ↑ Ray Lucia on the Sean Hannity show. Hannity.com. Retrieved 2010-10-01.
  23. ↑ Raiding Your 401(k) Good Morning America on ABC. Retrieved 2010-10-12.
  24. ↑ Ray Lucia on Fox News FoxNews.com. Retrieved 2010-10-12.
  25. ↑ Ray Lucia on CNBC CNBC. Retrieved 2010-10-12.
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