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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Sitting in a position of authority can grow conducive to self
deception. Just having power without tasting the consequences in a
deep, personal or instantaneous way may erase the knowledge that real
people are experiencing life changing effects that could be disastrous.
That is why the SEC needs to consider what the most vulnerable of
American citizens are going to deal with in their real lives, when
so-called financial "advisers" take easy advantage of them,
manipulating their accounts, just a little, buying and selling
securities just to get another slice of a commission, nothing too
serious, of course, just enough to cover an adviser's golf club
membership, say.  These situations may be very hard for most Americans,
especially trusting, older citizens, to ever notice...and if they do,
it will be too late. The SEC is in a position to protect ordinary
people from this abuse. And, it is on the members of the SEC if they

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. Allen Wheeland