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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

I am writing urging the Securities and Exchange Commission (SEC) to
close the loophole in regulatory rules that make it possible for
unscrupulous financial advisers to direct the hard-earned money of
working class people into investments that Benefit the investor rather
than the investor. For many people, who lack the knowledge and
background in investing, this is nothing more than a fraudulent scam
perpetrated bad financial advisors.

The SEC should be proposing and enforcing rules that protect the
interests of the average American, not some special interest group. Any
rule that benefits the financial advisor and potentially makes
investing riskier with higher fees and lower returns should be avoided.
All rules for financial advisers, new or existing, should be strong
enough to protect the retirement savings every American, particularly
older Americans.

My wife and I have worked hard to build our retirement portfolio in the
hopes of securing our financial future. We have been fortunate to have
found financial advisors who have worked in our best interest and
reasonable costs. We want all people to feel secure that the person
advising them about IRAs, 401(k)s and other retirement accounts is
working in their best interest. Every investor should be confident and
trust that their financial adviser puts their interest first.

Again, I strongly urge the SEC to close regulatory loopholes and ensure
a higher standard for financial advisors.  than the currently proposed
rule. Holdwho gives every person every who gives financial advice for a
fee is genuinely accountable for helping their client make the best
possible investment for themselves, their family and their future.  I
do not want a standard that makes our broker or banker richer at the
expense of the investor.


Mr. Robert Borremans