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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

The main role of any government is to protect its citizens. One of the
ways is to pass laws that require honest and helpful information to be
provided by professionals in their various fields of practice. That we
have professionals is due to the specialized knowledge required to
perform complicated tasks successfully. Giving anyone the ability to
abuse their clients legally by not advising their clients of all the
ramifications involved in the services they provide is a failure of the
governments' prime responsibility to its citizens.

Millions of Americans like me are counting on our IRAs, 401(k)s and
other retirement accounts for a secure financial future  and we've
worked hard to build and grow our savings.

We should be able to trust our financial advisers to put our interests
first. But loopholes in the current law make it easy for many advisers
to take advantage of hard-working Americans and line their own pockets
with our retirement savings.

Hidden fees and bad advice costs Americans billions of dollars every
year, and we deserve better.

Close this loophole and ensure a higher standard than the currently
proposed rule. Hold anyone who gives financial advice genuinely
accountable for helping everyday Americans choose the best investments
for us, our families, and our future. We don't need or want a standard
that just makes our brokers and bankers richer.

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.

Thank you for your time and consideration.