Jun. 22, 2018
Jun 22, 2018 Securities and Exchange Commission To the and Exchange Commission, By definition, a financial adviser should be serving and protecting the financial interests of his/her clients. To serve their own financial interests first before their clients by not disclosing any financial interest or motivation in their recommending or promoting products offering them some form of compensation for that recommendation/promotion is at least unprofessional, unethical, and unconscionable. To allow them the legal backing to support this practice is even more despicable. Beginning in 2008 and even until now, these and other similar practices in the financial world brought many in this country to their knees. As is often said, those who don't learn from history are doomed to repeat it, so please don't allow this travesty to perpetuate. Rules are needed only because someone has been stepped on - the stepper wins and the stepee loses and is hurt in the transaction. Please enact rules reasonable to both sides of these transactions, at the very least disclosure of the relationship between the financial adviser and the products being offered and a comparison between those products and other comparable products (industry ratings; rates of return; fees or other compensation being offered to the financial adviser; etc) to those being recommended/promoted. 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, Mr. Ken Vogt