December 16, 2010
Dear SEC,
In the interest of helping American investors please regulate in a meaningful way those individuals and organizations that represent themselves as brokers, dealers and investment advisers. I have tried twice to use the services of a financial adviser or investment adviser over the last several years and will possibly never do it again. The first was a private individual that had been recommended to me. I let him invest part of my holdings and over the next year realized that he was frequently moving it from one bank to the next, not to help me, but rather to gain from fees that each bank charged for their services. I quickly removed my money from his control and put it under my own supervision. The second incidence was using the services of a large financial institution recommended my my employer. I provided them with a listing of my investments and they came back to me with a list of load funds that they would be happy to invest in on my behalf. A number of these funds were not very well rated. Obviously they were looking out for their own interests and not mine. Needless to say I did not use them.
Thank you for taking the time to read my comments.
Sincerely yours,
Tim Gorzynski