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SEC Charges Ray Lucia with Misleading Retirees

Posted by Seton McAndrews | CFP®, Vice President Investments

September 21, 2012

The SEC has charged Ray Lucia and his “Buckets of Money” investing strategy for spreading misleading information at several investment seminars. Ray Lucia claimed that his strategy, which attempts to provide inflation adjusted income and portfolio protection, had been back tested extensively. The SEC found that the actual back testing consisted of a two two-page spreadsheets.

Read the full story here.

WrapManager believes this highlights how important it is for investors to conduct proper due diligence before investing with a money manager. As this is often difficult to do, WrapManager actively conducts due diligence on several money managers and their strategies. If you would like to research a money manager, simply search our Money Manager Directory and request the information.


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