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

Jun. 21, 2018

Jun 21, 2018

Securities and Exchange Commission

To the and Exchange Commission,

I worked as an limited practice officer for several years and saw first
hand the bad advice that loan officers gave clients in order to make
large fees.  As an escrow officer, I was not allowed to say anything to
them to let them know they were going to be in trouble.  Unfortunately,
they discovered the problem when things went south in 2008 and many had
to do short sales or lost there home.

I experienced this myself when looking for a place to invest my 401K
after retiring.  I will accept some responsibility for not
investigating more, but the advisors did not explain to me all the
different choices and although telling me they would be following up
with me periodically, I never heard from them again after they walked
out of my home.  I was able to get out of the situation with the help
of my current advisor, but it was a lesson learned.

This loophole must be closed. The greed in this country is rampant and
I am appalled that so many who are supposed to "help" seniors
are more concerned with lining there own pockets.  Anything that needs
to be done to protect seniors must be done.  We are living longer and
need more security than we have at the hands of those who profess to be
working for us.   I am more fortunate than many older citizens that I
meet, but that does not mean that I an not concerned.


Ms. Edla Grant