From: Stephen Thomas
I would like to respectfully submit the following comment in response to the new SEC proposed rule #S7-25-06.
My name is Stephen Thomas. I grew up financially humble as one of four kids, with separate fathers, born to a single-mother. Since that start, I forged ahead with hard work to earn a BA from an Ivy League college, serve my country as a Naval Officer and prosper in a career on Wall Street. My wife has a similar story with a humble start but a current status as a star salesperson for a major U.S. bank.
Together we started with a negative net worth and today we have over one-million of net worth, according to Merrill Lynch. We invest in several vehicles through our African-American Merrill Lynch financial advisor, which requires Accredited Investor status. We want to continue to be able to pursue our American Dream. At this point, age 38, our investments are nearly as financially important to us as our careers. Our investments represent so much of our hard work, achievement and disciplined investing. We need to maintain our access to as many growth vehicles as possible, and why shouldn't we be able to? Why would the SEC raise our bar? Who will benefit, given the fact that surely we will lose. Please continue to allow ambitious, educated and financially prudent Americans to continue to be able to compete financially on the same playing field as others.