June 18, 2018
Securities and Exchange Commission
To the and Exchange Commission,
For most older persons, retirement is life changing. As a retired person, you must rely on your savings from a lifetime of work to live out your remaining years.
I am not an investment professional and I consult with financial advisers to help me manage my assets so they will extend as long as possible and meet my needs. I realize that financial advisers, who we trust with our financial assets, are likely tempted to invest assets in a way that benefits them rather than me. This is wrong.
Financial advisers must be held to a higher standard than others because they hold a place of trust. As a retired person I place my trust in financial advisers. If they violate that trust, they must be accountable.
I do not want to rely on public services because a financial adviser used my financial assets for their own benefit. We need rules that make the responsibility of financial advisers to their clients absolutely clear.
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. John Vasquez