Jun. 20, 2018
Jun 20, 2018 Securities and Exchange Commission To the and Exchange Commission, As I shop for consumer goods I can compare prices for similar items and make my selections. A department store may have different costs of overhead, product acquisition, or other business expenses and these would all be reflected in the product price. All of this would be visible in the posted price. When I see a professional like an attorney or hire an professional engineer I have some expectation that they are working in my best interests with legal advice or product development. Each profession has codes of ethics that puts the client first as the client has every right to expect. Why should it be different with an investment advisor? Why should I not expect an investment advisor to work for my best interests as that is why I would hire them - to do a job better than I could do myself. If there is no expectation of this then I have hired a con artist without even knowing it and have no reasonable way to discover it. Without a professional obligation to first serve the client the financial investment system has been deliberately set up for legal robbery. 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. Carl Klinge