Your Relationship with Your Financial Professional: Feedback on the Relationship Summary

We would like to know what you think about a proposed Relationship Summary that describes your relationship with your investment adviser or your broker-dealer (your firm) and your financial professionals. This document summarizes:

• the services the firm offers and the types of fees and costs associated with those services;
• the firm's obligations to you;
• certain conflicts of interest;
• how to find additional information about the firm and its financial professionals and research disciplinary history for the firm or its financial professionals;
• how to report a problem with your investments, investment account or a financial professional; and
• some questions to ask your financial professional to get more information.

It is important to us at the SEC to understand what you, the investor, think so that we can make it easier for you to choose the type of investment services relationship that is right for you. We prepared sample Relationship Summaries to illustrate what they may look like.

• Sample Relationship Summary for a broker-dealer
• Sample Relationship Summary for an investment adviser
• Sample Relationship Summary for firms that are both an investment adviser and broker-dealer

Please take a few minutes to review one or more of the samples and answer any or all of these questions. Please provide your comments by August 7, 2018 and thank you for your feedback!

If you are interested in background information on the proposed Relationship Summary, or want to provide feedback on additional questions, click here.

All required fields are marked with an asterisk *

Contact Info

* First Name:
* Last Name:
* Email:	(Your email address will not be published on the web site)

Questions

1. Overall do you find the Relationship Summary useful? If not, how would you change it? If so, what topics and how can they be improved?

2. How useful is each section of the Relationship Summary? Please consider explaining your responses in the comments

Subject to respond	Very Useful	Useful	Not Useful	Unsure	Comments
a. Type of Relationship and Service
b. Our Obligations to You
c. Fees and Costs
d. Comparison to different account types
e. Conflict of Interests
f. Additional Information
g. Key Questions to Ask

3. Please answer the following questions. Please consider explaining your responses in the comments

Questions	Yes	No	Somewhat	Comments
a. Do you find the format of the Relationship Summary easy to follow?
b. Is the information in the appropriate order?
c. Is the Relationship Summary easy to read?
d. Should the Relationship Summary include additional information about different account types?
e. Would you seek out additional information about a firm's disciplinary history as suggested in the Relationship Summary?

4. Are there topics in the Relationship Summary that are too technical or that could be improved?

5. Is there additional information that we should require in the Relationship Summary, such as more specific information about the firm or additional information about fees? Is that because you do not receive the information now, or because you would also like to see it presented in this summary document, or both? Is there any information that should be made more prominent?

6. Is the Relationship Summary an appropriate length? If not, should it be longer or shorter?

7. Do you find the 'Key Questions to Ask' useful? Would the questions improve the quality of your discussion with your financial professional? If not, why not?

8. Do you have any additional suggestions to improve the Relationship Summary? Is there anything else you would like to tell us?

We will post your feedback on our website. Your submission will be posted without change; we do not redact or edit personal identifying information from submissions. You should only make submissions that you wish to make available publicly.

Thank You!

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Other Ways to Submit Your Feedback

You also can send us feedback in the following ways (include the file number S7-08-18 in your response):

Print Your Responses and Mail	Secretary Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-1090
Print a PDF of Your Responses and Email	Use the printer friendly page and select a PDF printer to create a file you can email to: rule-comments@sec.gov
Print a Blank Copy of this Flier, Fill it Out, and Mail	Secretary Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-1090

File No. S7-08-18