June 2, 2017
To Whom It May Concern,
I believe that the intent of the Labor Dept.’s Fiduciary rule is very important to retail investors like myself. It amazes me how many of my friends and acquaintances believe that brokers and other financial advisors have always been held to that standard. They just assume that they could sue in court if they got bad advice because their advisor had a financial stake in selling them a certain product.
I think a key area that the SEC should consider getting involved in is standardizing the nomenclature. Setting definitions for different types of stockbrokers, financial advisors, etc. would be a great benefit to the public and to advisors. If terms were solidly defined and consistently used, it would make it easier and less confusing for investors, plus help advisors market their skillset appropriately.
Thanks you for your attention,
Mark D. Moss
Staff Scientist – Aircraft Structures
Gulfstream Aerospace Corporation