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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

When you visit a doctor or lawyer, there are protections in place to
make sure those professionals look out for your best interests. The
same ethos does not apply to financial advisors when it comes to
investing your retirement accounts.

Financial advisors are merely required to give advice that is suitable.
If you had cancer and went to the doctor, you wouldn't want your doctor
telling you what's 'suitable.' You want her to tell you what's going to
give you the best chance to beat the cancer. But financial advisors are
not under that obligation. They can steer you toward more complicated
investment instruments with higher fees that are great for the advisor
at the expense of the customer.

It's easy for anyone to believe they have the highest ethics and always
put their client's interests first. It's much harder to practice that
belief, especially when it hits one squarely in the wallet. I've found
that planners that tout their ethics the most also tend to be the worst

We need rules that anyone providing retirement advice for a fee is
required to act in the best interest of their client.


Mr. George Lewis