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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

I'm an investor with nearly all of my net worth (outside my primary
residence) invested in stocks and mutual funds.  I'm in the minority,
as I don't use a money manager for most of my investments.  Most people
saving for retirement don't have the time to look after their savings
(like I do) because they are too busy working, raising a family, trying
to make ends meet and have a little left over for their retirement.
Please enforce a fiduciary responsibility for brokers and money
managers, as is done in most professions (medical, legal, etc),
otherwise how can these people be considered professionals.

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. Douglas Smith