The following Letter Type B, or variations thereof, was submitted by individuals or entities.
Letter Type B:
Dear Chairman Clayton, As a financial services professional, I believe investors deserve to choose the type of relationship they have with their advisor and the account structure most appropriate for their needs. The DOL Fiduciary Rule, while well-intended, has negative impacts on investors' abilities to save for the future, including loss of choice and increased cost — the latter potentially prohibiting access to retirement advice altogether. Investors value choice and selection with respect to the types of accounts they maintain and how they pay for financial services. I believe the Securities and Exchange Commission, as the leading federal securities regulator, should assert its jurisdiction and administer a uniform best interest standard across all brokerage account types including retirement. The DOL should not be permitted to restrict access to the products, services and payment terms retirement savers deserve. Sincerely,