Jun. 23, 2018
Jun 23, 2018 Securities and Exchange Commission To the and Exchange Commission, Financial Advisers should be held to standards similar to personal physicians--doctors are required by law to disclose clearly any financial interest they hold in medical services they may prescribe; i.e. an orthopedist recommending a particular physical therapy organization in which they are a financial partner. Financial Advisers should be required to disclose the fees they receive, and should be required to make decisions based on their clients' best interest, not on the basis of these fees. Disclosures should be in clear english, not complicated legalese, and especially for older clients, should be printed in an easy-to-read format. Anything less than these protections is expecting them to be financial experts themselves, whicfh is ridiculous. That's why they are dealing with an Adviser in the first place; they aren't experts! 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. Virginia Baker