Jun. 21, 2018
Jun 21, 2018 Securities and Exchange Commission To the and Exchange Commission, 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. As a long-time personal financial advisor and educator of personal financial planners, I am acutely aware of the adverse incentives in the financial marketplace for advisors and financial products/services providers to take advantage of unsuspecting and less knowledgeable investors and savers, rather than placing the interests of the general public and their own clients' ahead of the advisors' and their firms' narrow financial interests. This shortsightedness is detrimental to both the individuals who are ill-advised and to the well-being of the broad economy, as the very important function of saving and capital formation is underutilized and thwarted, along with the societal ill-effects. A strong and straight-forward fiduciary rule should be promulgated and enforced by the SEC, which would be highly advantageous to all parties, in the long-run. The SEC is the agency best suited to take the necessary steps to bring meaningful action implementing fiduciary responsibility and oversight to the personal financial advisory sector! I would be glad to answer any questions and to be of assistance in any way I could. Jerry D. Boswell, D.B.A., CFA