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

Jun. 22, 2018

Jun 22, 2018

Securities and Exchange Commission

To the and Exchange Commission,

My husband and I have been small investors in the stock market through
mutual funds for over 30 years.  We lost 70% of the value of our assets
in the 2000 market crash. Only after the fact did we realize that our
advisor from Morgan Stanley had us heavily invested in tech stock funds
that resulted in good commissions for her but an unbalanced portfolio
for us.

These companies spend millions on advertising to make sure that we
trust them. Without rules requiring them to make our best interests
their first priority, it is too tempting to place their personal profit
above their customer's interest.

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.


Mrs. Naomi Smith