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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Financial advisors should act as fiduciaries --- period.  Many people
have a very limited understanding of investments and are, to various
degrees, dependent on their advisors.  Also, many folks do not know
about the different types of advisors, what qualifications and licenses
they possess, and how they are paid. Retirement advice should not be
sold on a "buyer beware" basis. Hidden fees and bad advice
costs Americans billions of dollars every year, and we deserve better.

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.

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. Steve Baird