Jun. 24, 2018
Jun 24, 2018 Securities and Exchange Commission To the and Exchange Commission, I am retired. I am on Medicaid and collecting Social Security. These are important resources, but wouldn't cover all my living expenses. I depend on my IRAs for the supplemental income needed for a decent life. Few of us have the time and training to make great decisions about our investments. That's why my wife and I rely on our advisors at TIAA-CREF. Our security and futures are very dependent on their giving us good advice. It's critical to us to know our advisors are looking out for our best interests! So, I am opposed to undoing any regulations that require it. These rules should be strengthened, to eliminate the loophole that allows advisors to give advice that puts our funds at more risk, or increases our expenses, for their benefit, not ours. We need to be sure the advice we receive is the best available for us, not that which puts more fees and commissions in our advisors' pockets. Please, protect us seniors and future retirees! Advisors and other agents should be working for us, their clients. They should be putting our best interests first, not their incomes. I'm certain they'll continue to do well without abusing or scamming us! Having recently visited the tip of Manhattan where Wall Street is located, I am certain they are doing well enough.... I recall the questions, "Whose boats are those?" "The bankers." "Where are the customers' boats?" It's immoral and should be illegal for advisors to cheat their clients by giving them less than the best advice they have for us. Sincerely, Mr. Donald Weigt