Jun. 22, 2018
Jun 22, 2018 Securities and Exchange Commission To the and Exchange Commission, My husband and I have been small investors in the stock market through mutual funds for over 30 years. We lost 70% of the value of our assets in the 2000 market crash. Only after the fact did we realize that our advisor from Morgan Stanley had us heavily invested in tech stock funds that resulted in good commissions for her but an unbalanced portfolio for us. These companies spend millions on advertising to make sure that we trust them. Without rules requiring them to make our best interests their first priority, it is too tempting to place their personal profit above their customer's interest. 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, Mrs. Naomi Smith