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

Jun. 22, 2018

Jun 22, 2018

Securities and Exchange Commission

To the and Exchange Commission,

i have an annuity. the financial advisor steered me into the annuity as
a great investment. for him maybe, but not me. the investment choices
in the annuity are extremely restrictive, inflexible, have poor to
negative returns, & have very costly administrative fees. the money
fund is not a money market & looses money. the monthly
administrative fees are as expensive as my monthly "income".
so when they send $1,000 to my bank account they also take $1,000 for
managing my money. that is obscene! i could put my money in my own
money market account & earn 0.01% interest & give myself the
monthly money free of fees! additionally, if i want to get out of the
annuity i have to pay them $10,000 to do so. that really sucks! require
financial advisors to act as true fiduciary's for their clients &
act in their client's best interests!

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. BJ Lamb