June 1, 2018
Securities and Exchange Commission
To the and Exchange Commission,
My husband and I have worked and sacrificed for a lifetime to build our retirement savings. Our decades of labor are at risk unless the SEC institutes a rule requiring all financial advisers to act as fiduciaries. Otherwise, we could put our future well-being into the hands of someone who puts his own well-being ahead of ours.
I don't think it's asking too much to require financial advisers to deliver what they promise. Failing to do so basically confirms that today's excessive fees and low returns are not only legal but have SEC approval. Wall Street has long proven its willingness to take unfair advantage of investors. SEC regulation is the only protection investors have. We want you to use that authority to protect us.
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,
Mrs. Peg Barrett