Subject: File Number S7-07-18: Stop financial advisers from sapping Americans' retirement savings
From: Richard Klare
Affiliation:

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

For several years I had an account with what I believed to be a
reputable firm, (Merrill Lynch). After several years I found out that
most of the fund groups they had me invested in were proprietary and
not easily transferred or liquidated. Then when I called them on it
they reinvested my funds in similar
fund groups elsewhere. I hope to avoid any repeating of my errors.
However,
how do I know for sure. I believe that it will take the rule of law to
ensure that their advice to me is in my best interest.

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. Richard Klare