Jun. 24, 2018
Jun 24, 2018 Securities and Exchange Commission To the and Exchange Commission, Permitting financial advisers to provide guidance to seniors (or anyone) that reduces the potential income of the people being advised is unethical and immoral. Financial advisers need to act as fiduciaries to the people they provide advice. It is a matter of trust. Social Security and Medicare already are on shaky ground. We do not need a financial advice system that is less than honest and fair or that erodes potential future income of those being advised due to hidden fees, commissions and bad advice. Sure, everyone knows one cannot guarantee an investment will not lose value. However, financial advice needs to be based on sound analysis of the markets and clients circumstances, and not personal gain by the financial adviser. 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. Art McCurdy