Raymond Joseph Lucia, Sr. is an American former
Certified Financial Planner
The Certified Financial Planner (CFP) designation is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards (CFP Board) in the United States, and by 25 other organizations affiliate ...
, former
Registered Investment Advisor A registered investment adviser (RIA) is a firm that is an investment adviser in the United States, registered as such with the Securities and Exchange Commission (SEC) or a state's securities agency. The numerous references to RIAs within the Inves ...
,
author
An author is the writer of a book, article, play, mostly written work. A broader definition of the word "author" states:
"''An author is "the person who originated or gave existence to anything" and whose authorship determines responsibility f ...
,
radio personality and
television host
A television presenter (or television host, some become a "television personality") is a person who introduces, hosts television programs, often serving as a mediator for the program and the audience. Nowadays, it is common for people who garne ...
.
He is host of ''The Ray Lucia Show'', a nationally syndicated radio and television financial talk show on the
Business Talk Radio Network
BizTalkRadio is a radio network in the United States. Its programming focuses on the entrepreneur, small business owner and listener who wants to manage their family's assets. Formerly known as the Business Talk Radio Network, BTR was purchased ...
and the
Biz Television network.
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.
Early life, education, personal life
Lucia was born in Philadelphia, Pennsylvania. His family moved to Poway, California when Lucia was ten years old.
He went to
Palomar College
Palomar College is a public community college in San Diego County, California. The main campus is in San Marcos and three centers and four education sites are located elsewhere throughout north San Diego County. The largest of these by student ...
on a football scholarship and earned a teaching degree. 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.
Financial advisor
Lucia founded the Raymond J. Lucia Companies, Inc. and was the company's president and CEO for over twenty years. Registered Rep Magazine named Lucia as one of the "Top 100 Independent Financial Advisors in America" in 2008, and he was one of ten financial advisors recognized in the magazine's 2004 "Outstanding Broker Awards."
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. 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. 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 . Lucia appealed the decision, arguing that the administrative judge position within the SEC was an officer of the United States which required appointment to the position, and argued that the SEC's current judge was not properly appointed. The SEC and the District Court rejected Lucia's argument, leading him to petition to the
United States Supreme Court
The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all U.S. federal court cases, and over state court cases that involve a point o ...
by mid-2017. The Court heard the case as ''
Lucia v. SEC'', and in June 2018, ruled in favor of Lucia's position that such administrative judges are officers and must be hired appropriated. They reversed the previous judgments and granted Lucia a new hearing within the SEC under an appropriately-appointed administrative judge.
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 2014. Ten of the Eleven “Settled” Claims and Seven of the Eight “Pending” Claims are for “Real Estate Securities.”
Writing
Lucia is author of three books focusing on retirement investment strategies, with co-author Dale Fetherling:
* ''The Buckets of Money Retirement Solution: The Ultimate Guide to Income for Life'' (2010) (foreword by
Ben Stein)
* ''Ready... Set... Retire! Financial Strategies for the Rest of Your Life'' (2007)
* ''Buckets of Money: How To Retire in Comfort and Safety'' (2004)
Radio and television
In 1990, ''The Ray Lucia Show'' began airing on radio station
KFMB (AM) in San Diego. From 2000 to 2011, the show was nationally syndicated on the Business Talk Radio Network. Currently it can be heard on the Global American Broadcasting Network In 2009, Talkers Magazine named Lucia as one of the "100 Most Important Radio Talk Show Hosts in America." Lucia is also a frequent guest on the
Sean Hannity
Sean Patrick Hannity (born December 30, 1961) is an American talk show host, conservative political commentator, and author. He is the host of '' The Sean Hannity Show'', a nationally syndicated talk radio show, and has also hosted a commen ...
Show. In September 2010 ''The Ray Lucia Show'' was picked up for television by the Biz Television Network.
[''Ray Lucia joins Biz Television''](_blank)
''Biz Television''. Retrieved 2010-09-27. In addition to his own show, Lucia has appeared on ABC's
Good Morning America,
Fox News Channel's
Your World With Neil Cavuto
''Your World with Neil Cavuto'' (written on-air as ''Your World Cavuto''), which debuted as ''The Cavuto Business Report'' on the network's launch in 1996, is an American television news and business talk program on Fox News Channel currently ...
and
The Cost of Freedom
''The'' () is a grammatical article in English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the m ...
and
CNBC
CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk sho ...
's On The Money. Lucia announced in June 2019 that he is retiring from broadcasting. His June 28 program will be his last.
[http://www.talkers.com June 10, 2019]
References
External links
''Raymond J. Lucia, Sr., CFP'' RJL Wealth Management
{{DEFAULTSORT:Lucia, Ray
Living people
American financial businesspeople
American finance and investment writers
American television talk show hosts
American talk radio hosts
Businesspeople from Philadelphia
1950 births
Palomar Comets football players
Radio personalities from Philadelphia