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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Selling someone advice, and the advising them to invest in ways that
move money out of their pocket and into yours, is nothing more than
theft.  In fact, it's double theft - stealing once by means of bad
advice and then stealing again by charging for it.  Yet without a
strong fiduciary rule or equivalent, this theft is perfectly legal -
and for many financial institutions, it's business as usual.  This is
just plain wrong - and older Americans are losing billions because of

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.


Dr. George Rappolt