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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Millions of average people rely on financial advisors to help them plan
savings for retirement.  This is crucial given the disappearance of
traditional pension plans, longer lives, and the threatened status of
social security.  It is critical that financial advisors have a
fiduciary responsibility to offer advice that primarily benefits the
investor rather than advice that primarily benefits the advisor.

This is not merely essential for the individual investor.  The investor
who is abused by an unscrupulous advisor may well end up penniless
while the advisor profits.  That penniless investor will end up being a
charge on the public.  This is not a crime which harms only the hapless
investor.  This crime impacts the public economy as well.  In effect,
the abusive advisor cheats not only the individual but the Federal
government that will become responsible for the ruined investor.

I urge you to establish a high fiduciary standard for advisors which
requires them to put the investors interests above their own.  This
will protect not only the individual investor but will protect the
public good.  Thank you.


Ms. Gale Oppenberg