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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

I am a member and former Board Member of the National Retiree
Legislative Network and the National Chrysler Retirement Organization.
In working for, and with retirees for the last 11 years I have seen
"Financial Advisors" sap the savings of retirees.  Typically
they charge 1.5% in fees per year, put them in investments that charge
2% per year and recommend investments that pay lower rates of return
than standard index funds.  In total such advise costs retirees 5% or
more a year compared to simple index funds.  Financial Advisors
typically do not work in the best interest of the people they advise.
Most people don't know how to invest and rely on expert advise, but
when that advise is bad it is not the Advisor who suffers because all
their fees are first in line.

I have bench marked my own investments, which I do myself, against two
other Financial firms, and have done much better than either by a
substantial amount, 50% or more.

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. Christopher Dyrda