Jun. 20, 2018
Jun 20, 2018 Securities and Exchange Commission To the and Exchange Commission, I was a shareholder and active engineer/project manager in a medium-sized engineering company. Among other things, I took on the role of CFO for the company. I took my fiduciary responsibilities to the other shareholders and to the employees VERY seriously. I held MYSELF accountable, while it seems the Financial Planning industry is trying to pursue rulemaking that would allow them not to do so. Under my tour as Director of Finance (and ever since), decisions regarding 401k investment vehicles were very publicly deliberated. All employees and shareholders could participate in selecting their investment options. On matters outside of 401k investment options, I made financial decisions with their best interests at heart. I fail to see how Financial Planning "Professionals" can absolve themselves of similar responsibilities to their clients by merely lobbying a pro-2% Congress and a pro-1% White House. 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. Sincerely, Mr. Paul Smith