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

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

I'm deeply concerned about the ruling that all fiancial advisors and
people responsible for others money are not required to be fiducaries.
Any one who provides a service to other people should be ethically and
legally responsible to have the clients best interest ahead of their
own. These loopholes and reduction in the regulations are not fair to
any one who invests. The financial advisor is just that, a person who
advises other in a specialized field. Should any American investor be
put in financial danger because they are not proficient and educated in
any specialized field.
Would you expect a doctor to authorize a highly expensive surgery when
a simple drug or exercise could relieve the symptoms. Should that
doctor put his personal fiancial or professional needs ahead of the
patient. Would you expect a dentist to do a dental implant when a
filling would eliminate the pain just because he gets a bigger paycheck
for doing the implant.
We arrest and prosecute officials who take a bribe.
In my opinion this is the same thing as allowing fiancial advisers to
put their interest and paychecks ahead of the good of the client and
their fiancial needs.
This loophole affects all investors but especially the older investor
who has less time or no time to recover their losses.
We can not all be specialists in every field and need to be able to
trust those who we seek guidance and advise from.
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,

Ms. Sondra Graham