Ray Lucia, “Buckets of Money” Author Barred From Industry

Ray Lucia, “Buckets of Money” Author Barred From Industry 150 150 Rex Securities Law

by Robert H. Rex, Esq.

UPDATE JULY 2013– The SEC fined Ray J. Lucia, Sr. and his firm were fined $300,000 for spreading misleading information about his “Buckets of Money” investment strategy. He was also barred from associating with other advisers, brokers and dealers and his firm’s investment adviser registration was revoked.


On September 5, 2012, the Securities and Exchange Commission charged Ray Lucia, Sr., a nationally syndicated radio personality and author of an investing strategy “Buckets of Money”, with misleading investors. The SEC release can be viewed here and the SEC Order may be viewed here. Lucia, who is from the San Diego area, regularly touts his investment theory on radio shows and at seminars across the country. 

The SEC is taking issue with Lucia’s claims that his Buckets of Money strategy has been extensively back tested and proven to provide inflation adjusted income to retirees while protecting and even increasing their retirement savings. Per the regulators, seminar attendees gained a false sense of comfort about the Buckets of Money strategy. According to Michele Layne, Regional Director of the SEC’s Los Angeles office, ” The so-called back tests weren’t really backtests, and the strategy wasn’t proven as they claimed.” 

The SEC order alleges that Lucia did not maintain records on the purported backtesting. A pair of two-page spreadsheets was the only documentation of the backtesting calculations and they failed to duplicate the advertised investment strategy. 

Mr. Lucia’s CRD, which may be viewed on FINRA’s Broker Check website, indicates that at least two customers have complained in the past that real estate investments made in their accounts were inappropriate. 

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