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May 2024 by Epicurean E.
I feel compelled to share my troubling experience with E.A. Buck Financial Services to prevent others from falling into the same financial traps that we did. This firm, led by individuals like Scott Tusa, seems to prioritize their profits over the financial well-being of their clients through misleading sales tactics. Initially attracted by their offer of free educational seminars complete with meals, we soon realized after a year and the review of a 3rd party that these events were just a facade for sales pitches designed to help Scott to manage more money and receive more commissions from those managed funds at all costs. Scott Tusa, who boasts a degree in psychology from CU Boulder but lacks a deep financial background, led our consultations Under his guidance, our diversified, low-cost retirement funds (previously managed under a fee structure of less than 0.4%) were transferred into a high-fee, actively managed portfolio that E.A. Buck controlled. The portfolio carried a burdensome 1.5% management fee. This shift not only resulted in higher costs but also reduced our investment diversification, effectively undermining our financial strategy. Contrary to their claims of active portfolio management, our review of the many months they managed our assets revealed minimal trading activity or meaningful adjustment, which raises serious questions about the authenticity of their management strategy. Notably, there was a concerning overconcentration in large technology-related stocks, which could potentially expose investors to sector-specific risks, especially during market downturns. (e.g. akin to someone who picks brand names heard on CNBC) This lack of diversification goes against basic investment principles and showed a disregard for balancing risk and return in our portfolio. It appears their main focus was on accumulating fees from their clients, particularly exploiting the trust of those who value personal relationships over scrutinizing financial details. This strategy not only neglected the fundamental principles of sound investing but also prioritized E.A. Buck's financial gain over the financial security of their clients. Further adding to our grievances, Scott and his team pushed additional products like annuities and life insurance, which seemed more designed to generate commissions for themselves than to benefit our financial planning. These products came with large upfront commissions (around 10%) and were accompanied by complex, binding contracts that did not align with any sensible financial strategy. Once we were locked into these lengthy contracts, we found ourselves unable to exit without incurring substantial financial losses. This lock-in effect essentially meant that the money we invested in these products was lost, trapped in arrangements that served the interests of E.A. Buck far more than our own financial goals. The difficulty in obtaining clear and straightforward performance data from E.A. Buck was another major issue. Their opaque handling of inquiries and the lack of detailed financial insights provided by Scott were both frustrating and alarming. To review our portfolio details, we were required to jump through multiple bureaucratic hoops; everything needed to be done in person at their offices. While E.A. Buck was incredibly accommodating and efficient when it came to moving money into their management, the process of withdrawing funds or transferring them out was starkly different--painfully slow and obstructed at every turn. An overall warning - The allure of free meals and friendly consultations is a high price to pay for financial mismanagement and our long-term regrets. Engaging with E.A. Buck Financial Services, particularly if your interactions involve Scott Tusa, can be perilously costly. We learned the hard way that behind the charm and seemingly benign offers lies a ruthless focus on maximizing fee intake. Scott's primary goal appears to be to progressively wedge himself deeper into your retirement planning, managing more of your assets, and extracting increasingly higher
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December 2023 by Error A.
We went to E. A. Buck decades ago and invested through them. In plain simple terms - they are con artists. I would highly not recommend them, they are 100% in it for themselves. I did ok despite their self service nonsense advice. This company is all about making money for them, they don't give a crap about you. Phony to the max, but lots of smiles and cookies.
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December 2023 by Bruce S.
Advisor Roy Murai got me to foolishly invest in oil drilling projects which are highly risky. He told me very wealthy people invest in oil. My tax accountant told me everyone if her clients lost big on these type of investments. I was shown large payments he personally received. I invested a lot and did get a good payment. Once or twice. After that the well dried up. One well hit big but I guess it was so good the managers sold it probably to themselves. I'd say I lost 40% of my investment until they closed up the K1. He told me wells generally go on for many years. But it lasted a few months before things started going bad. I called an executive of the company and was told wells don't last very long. My fault for trusting him. He probably lost money so needed commissions to make his money back. I called a few times and he never called back. I saw him once on the street. He gave me a look like he wanted to avoid me. I said hi and walked away.EA Buck's son told me his dad has heavily invested in an investment. Again I listened and that was another loser.My advise is you talk to several advisers and then spread your money around in small amounts. Give it a couple or 3 years and see who does best to meet your needs. Dont be greedy use common sense and realize people can look you right in the eye and have no soul. You could tell them this is your life savings and that won't matter to this special breed of person. Also do some investing on your own. Frankly I've done well on my own but not well with the 3 advisers I used. EA Buck was the worst since I lost money.
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September 2023 by Dorkimon
It's a good thing the company specializes in finance and not environmental cleanliness. Learn to use a trash can instead of throwing it out of your car window.
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October 2022 by Kat Muraoka
Great service, very professional, always puts family first, and makes sure that the products we use will better our family financially. Mahalo for all you do for us. We are confident that your firm will take the best care of our hard earned money.
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October 2022 by Susan Pang
I have been with E A Buck Financial Services for over 30 years and they have kept me financially secure, now that I am fully retired and enjoying my life.
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October 2022 by C King
My wife and I had been unable to get help with our retirement until EA Buck. Thanks to Sean, we are at a good location financially.
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October 2022 by Laura Sanches
Everyone at E. A. Buck are very professional. I enjoyed going in, before Covid, and is always greeted with a smile.
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October 2022 by Mark Glumske
Always a great experience talking with Rachelle of E.A. Buck.Professional in every aspect.Quickly responds to any questions I may about our accounts.Thank you
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October 2022 by David Pavao
the one star rating is too highThree investments absolute rubbish, currently I'm finding ways on my own to stop feesMy advisor, his assistantwill call me back after Ive left two or three messagesAlso with "we dont have access to that information anymore"
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October 2022 by Clarence Edwards
Highly recommended company, I have been a satisfied client of Lorin Chun for over 15 year's, Lorin has given me great financial advice over the year's, and he continues to do so with the BEST customer service!!!
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October 2022 by Clifford Honjiyo
Whenever I need help or have any questions concerning my financial investments or annuities Lorin Chun or his assistant is always there to help me in a timely manner..
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October 2022 by Wesley Yoshimura
Tax advice and long-range financial planning have worked out very well.
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October 2022 by Laurel Boff
This is a financial institution of the highest quality ~ extraordinary customer service!!
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October 2022 by Dan Dennison
I've managed my own finances for close to 50 years and have done well. As I'm nearing retirement I figured it was time to seek some professional guidance to minimize taxes and maximize returns. It's early but have confidence Scott and team will do better than I have on my own.
