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

Jun. 21, 2018

Jun 21, 2018

Securities and Exchange Commission

To the and Exchange Commission,

As a retired physician I know how difficult it is to find reliable
financial advice to help ensure that my retirement savings are wisely
invested.  And I am a well educated and reasonably astute individual.
But that does not make me competent to navigate the complexities of our
financial markets.  I need good, honest advice.

So you can imagine how disheartening it was to hear that a well
respected company like Wells Fargo was scamming its clients.  It is no
longer possible to assume that those in business to provide financial
guidance and advice will act ethically and put our financial interests
first.  We need the law to protect us.

We need to close the loophole in the current law that allow financial
advisors to act in their own interests rather than in the best
interests of their clients.  Investors trying to plan for a secure
retirement need protection from hidden fees and intentional bad advice
from the very agencies they engage to guide their investment decisions.

I'm counting on you to make a stronger rule that closes this loophole.
Americans who've worked hard to save for retirement deserve peace of
mind about their financial security.

Sincerely,

Dr. Joan Mattson