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

Jun. 21, 2018

Jun 21, 2018

Securities and Exchange Commission

To the and Exchange Commission,

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.

As a long-time personal financial advisor and educator of personal
financial planners, I am acutely aware of the adverse incentives in the
financial marketplace for advisors and financial products/services
providers to take advantage of unsuspecting and less knowledgeable
investors and savers, rather than placing the interests of the general
public and their own clients' ahead of the advisors' and their firms'
narrow financial interests.  This shortsightedness is detrimental to
both the individuals who are ill-advised and to the well-being of the
broad economy, as the very important function of saving and capital
formation is underutilized and thwarted, along with the societal
ill-effects.

A strong and straight-forward fiduciary rule should be promulgated and
enforced by the SEC, which would be highly advantageous to all parties,
in the long-run.

The SEC is the agency best suited to take the necessary steps to bring
meaningful action implementing fiduciary responsibility and oversight
to the personal financial advisory sector!

I would be glad to answer any questions and to be of assistance in any
way I could.

Jerry D. Boswell, D.B.A., CFA