Jun. 20, 2018
Jun 20, 2018 Securities and Exchange Commission To the and Exchange Commission, As a former employee in the Division of Enforcement, I am often asked for advice on who to turn to for investment advice. I tell people that they should educate themselves because they are truly the only ones who will put their own interests first. I see no reason that investment advisers should not be held to the highest standards in advising people on how to invest their assets. I know of one case I investigated of individuals who left a brokerage firm and started an advisory business just to put their clients assets into very risky and unsuitable investments. All of their clients assets were lost. It makes no sense to allow a lesser standard than that of a fiduciary when someone is trusted with an investor's life savings! 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. Susan Hannan Sincerely, Ms. SUSAN HANNAN