Subject: File Number S7-07-18: Stop financial advisers from sapping Americans' retirement savings
From: Richard Nelson

June 18, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Having dealt with a number of financial advisors, it has been my experience the majority had little interest in anything other than 1) their commission, and 2) making the sale. I have caught them in outright lies, or failing to provide complete information if it did not support their pitch. The rul needs to be strengthened to make all financial advisors responsible for what they say and do. We go to them because they supposedly know more about the subject than we do. If they have no fiduciary requirement, there is no reason for them to actually consider what is best for their client.

I'm counting on you to make a stronger rule that closes the loophole.
Americans who've worked hard to save for retirement deserve peace of mind about their financial security.


Mr. Richard Nelson