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

Jun. 22, 2018

Jun 22, 2018

Securities and Exchange Commission

To the and Exchange Commission,

By definition, a financial adviser should be serving and protecting the
financial interests of his/her clients.  To serve their own financial
interests first before their clients by not disclosing any financial
interest or motivation in their  recommending or promoting products
offering them some form of compensation for that
recommendation/promotion is at least unprofessional, unethical, and
unconscionable.  To allow them the legal backing to support this
practice is even more despicable.  Beginning in 2008 and even until
now, these and other similar  practices in the financial world brought
many in this country to their knees.  As is often said, those who don't
learn from history are doomed to repeat it, so please don't allow this
travesty to perpetuate.  Rules are needed only because someone has been
stepped on - the stepper wins and the stepee loses and is hurt in the
transaction.  Please enact rules reasonable to both sides of these
transactions, at the very least disclosure of the relationship between
the financial adviser and the products being offered and a comparison
between those products and other comparable products (industry ratings;
rates of return; fees or other compensation being offered to the
financial adviser; etc) to those being recommended/promoted.

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.


Mr. Ken Vogt