May 31, 2018
Securities and Exchange Commission
To the and Exchange Commission,
I am currently managing my own retirement account funds, and not
accessing an agent at one of the investment advisory firms. My main
reason for not doing so is my fear that the advice I receive will be
both expensive and not produce the desired results.
Many years ago I worked with stock brokers/investment advisers that
gave me bad direction. It cost me money for the advice, and the loss
of money for the bad investment. I have decided ever since to handle
my own investment choices.
I am confident that I am not as knowledgeable as those who are
investment professionals, but I also know that I will not knowingly
make poor choices with my money. If I could be sure that investment
advice will be for my benefit, I would be very inclined to make use of
investment services. I cannot afford to lose the funds that I have
worked a lifetime to accumulate. I need to make these funds cover the
costs of housing, feeding and caring for my wife and myself for as long
as we are retired. I do not know how long that will be.
I'm counting on you to make a stronger rule that closes the investment
fidelity loophole. Americans who've worked hard to save for retirement
deserve peace of mind about their financial security.
Sincerely,
Mr. Steve Wright