Jun. 22, 2018
Jun 22, 2018 Securities and Exchange Commission To the and Exchange Commission, i have an annuity. the financial advisor steered me into the annuity as a great investment. for him maybe, but not me. the investment choices in the annuity are extremely restrictive, inflexible, have poor to negative returns, & have very costly administrative fees. the money fund is not a money market & looses money. the monthly administrative fees are as expensive as my monthly "income". so when they send $1,000 to my bank account they also take $1,000 for managing my money. that is obscene! i could put my money in my own money market account & earn 0.01% interest & give myself the monthly money free of fees! additionally, if i want to get out of the annuity i have to pay them $10,000 to do so. that really sucks! require financial advisors to act as true fiduciary's for their clients & act in their client's best interests! 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. BJ Lamb