Subject: File Number S7-07-18: Stop financial advisers from sapping Americans' retirement savings
From: Alfonso Juarez III
Affiliation:

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Dear Sir I am writing to you regarding Wall Street and retirees like me
that depend on their advice to manage our 401k, 457 and any other
retirement accounts that we will live on during our retirement years.
We have saved during the years that we have worked and have dep need in
these individuals along the way. However, the results in our accounts
do not appear to have matured like the returns that Wall Street gains
have achieved. We need legislation that will protect us all along the
way as we save an more importantly as we retire and draw in these
accounts.

Millions of Americans like me are counting on our IRAs, 401(k)s and
other retirement accounts for a secure financial future  and we've
worked hard to build and grow our savings.

We should be able to trust our financial advisers to put our interests
first. But loopholes in the current law make it easy for many advisers
to take advantage of hard-working Americans and line their own pockets
with our retirement savings.

Hidden fees and bad advice costs Americans billions of dollars every
year, and we deserve better.

Close this loophole and ensure a higher standard than the currently
proposed rule. Hold anyone who gives financial advice genuinely
accountable for helping everyday Americans choose the best investments
for us, our families, and our future. We don't need or want a standard
that just makes our brokers and bankers richer.

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. Alfonso Juarez III