May 31, 2018
Securities and Exchange Commission
To the and Exchange Commission,
It is critical that financial advisors and others that help with investments, 401Ks, savings, etc have the best interest of the customer in mind and not their company or self-interest in mind. It is mind boggling how investment companies are rolling in profit but most seniors can't afford to retire. With the loss of pensions and the dependance on 401Ks and IRAs to fill the gap, it is critical that financial advisors give unbiased advice that can be trusted. Most mutual funds and high traded stock funds underperform the market yet the management fees cost up to 2%. Why is this allowed?
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.
Sincerely,
Mr. Carl Nelson