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

Jun. 24, 2018

Jun 24, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Permitting financial advisers to provide guidance to seniors (or
anyone) that reduces the potential income of the people being advised
is unethical and immoral.  Financial advisers need to act as
fiduciaries to the people they provide advice.  It is a matter of

Social Security and Medicare already are on shaky ground.  We do not
need a financial advice system that is less than honest and fair or
that erodes potential future income of those being advised due to
hidden fees, commissions and bad advice.

Sure, everyone knows one cannot guarantee an investment will not lose
value.  However, financial advice needs to be based on sound analysis
of the markets and clients circumstances, and not personal gain by the
financial adviser.

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. Art McCurdy