May 6, 2016
Thank you for attempting to help individual investors, especially those of us just trying to save enough to retire. I fully endorse allowing financial services companies to make money for their work. I do not expect them to allow me to invest for free. However, I want to know how much I am paying for their services. When I hire almost any other professional, I receive a bill that explains in detail how much their services cost. (Health insurance makes medical billing cloudy, but that's another battle.) Financial services companies should provide a detailed billing statement to each of their customers. This is especially crucial for the small investor. For people with millions, hidden financial service fees may be annoying and unfair, but they will not affect their ability to retire. For the rest of us, hidden fees eat away at our hard-earned savings. Please require full and specific disclosure of fees from all financial services companies. Thank you.