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SEC charges Lucia for misleading seminars

The Securities and Exchange Commission on Wednesday charged a syndicated radio personality and author Ray Lucia Sr. with spreading misleading information about his wealth management strategy at a series of investment seminars targeting retirees.
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2 UserComments
Jim Galpin 8:46am September 8, 2012

I found this article after hearing another financial person on the radio talking about the SEC fining a financial advisor (un-named) for fraudulent backtesting data. Let me say, I listen to Ray Lucia frequently, and as a fairly astute investor myself, can attest to the fact that Ray does a fine job of giving financial advice. I don't agree with everything Ray says, (I'm not a fan of non-traded REITS like Ray is) but about 98% of his advice is excellent. It's ironic the SEC finds fault with an upstanding advisor like Ray but completely missed Bernie Maddoff, even after they had been tipped-off about Bernie years before he was stopped.

Randy Truthtime 7:55am September 7, 2012

My mother has been a client, for many years, of the firm that Mr. Lucia refers people to. He does not have clients himself, since that would be conflict of interest. She has done just fine with her portfolio and the system works for her. Sad that people take an inflammatory headline and assume someone is guilty before even investigating what is being said. The fact is, if anyone accusing him cares about the facts, that what the SEC is claiming is a well-accepted assumption rate. Look it up and read the actual data before blatantly assuming someone is a "fraud" !!!

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