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

Jun. 28, 2018

Jun 28, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Unfortunately, many people depend on financial advice from a
professional in making confusing but mportant financial decisions. The
relationship with a financial advisor can be compared to the trust that
you have for your doctor. People do not expect doctors to give advice
that will make them just a little better off so that the doctor can get
richer by prescribing the wrong medication. Financial advisors are
trusted for advice that will make their client's financial decisions
healthy which requires the advisor to be in a fiduciary role.

Currently there are loopholes in the law that make it easy for advisors
to take advantage of hard working Americans and line their pockets with
our retirement savings. Close this loophole and ensure a higher
standard than the currently proposed rule. Hold anyone who gives
financial advice genuinely accountable for helping everyday Americans
choose the best investments for us, our families, and our future. We
don't need or want a standard that just makes our brokers and bankers

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. Richard Brown