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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Americans depend on financial advisers, and pay them well, to give good
advice on stocks, bonds and markets, simply because they have expertise
that we do not.  Unfortunately, there are those that are in the
business to line their own pockets instead of doing what is right and
what they are supposed and expected to do.  This is the fatal flaw of
people when money is involved, and the reason why we need to have
strong laws and rules of business, and repercussions to protect us from
this flaw.

While most Americans rely on there investments for retirement, and
since Social Security is almost certain to fail, the SEC must ensure
that these investments and all the procedures and protocols surrounding
this business is orchestrated and implemented in the best way possible.
It must protect the investor, first and foremost, as the investor
makes all this possible.  And, that any deviance from these laws and
rules must be dealt with in the most stern way.

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. Kenneth Phillips