Jun. 20, 2018
Jun 20, 2018 Securities and Exchange Commission To the and Exchange Commission, This predatory 'dirty pool' practice WAS made illegal & now has been made - or is being considered being made - ok again! Charlatans! I have worked for Financial Planners & was IAFP chapter administrator for 130 planners in the greater NOLA area & I PROMISE you without legal protection planners put clients into heavily loaded funds of 6%-8% when there are 3% funds available! Planner neglect to pass on money saving tips - like money market accts that pay more interest that they personally use for their own money instead of banks, but since there's no commission in it for 'em, clients NEVER hear about them. 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. We've already got to work YEARS longer than our parents did for the same degree of security due to the baby boom & feminism minimizing our rates of pay during our earning years & recessions have seen our savings earn little - my Dad got 10%- 12% earnings on savings - mine earn 1.3% - his credit cards charged 5% interest - mine charge 23% interest for GOOD customers! Don't take this protection away from us, too! CLOSE the door on predators! Sincerely, Ms. Patricia McWhorter