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

Jun. 21, 2018

Jun 21, 2018

Securities and Exchange Commission

To the and Exchange Commission,

People are increasingly expected to make decisions on crucial aspects
of their lives such as investments and health care. Most people are ill
prepared to make these decisions and are overwhelmed with confusing

Seniors often seek advice from financial professionals, trusting that
they will advise them in the right way. Without regulations requiring
fiduciary duty, financial advisors can become salesmen. Their incentive
is to line their own pockets - what is best in terms of profit for the
salesman may not be best for the investor.

It is hard enough to make smart choices. Without clear rules seniors
can become victims.

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.


Ms. Carol Schmidt