Jun. 20, 2018
Jun 20, 2018 Securities and Exchange Commission To the and Exchange Commission, Financial advisors should act as fiduciaries --- period. Many people have a very limited understanding of investments and are, to various degrees, dependent on their advisors. Also, many folks do not know about the different types of advisors, what qualifications and licenses they possess, and how they are paid. Retirement advice should not be sold on a "buyer beware" basis. Hidden fees and bad advice costs Americans billions of dollars every year, and we deserve better. Millions of Americans like me are counting on our IRAs, 401(k)s and other retirement accounts for a secure financial future and we've worked hard to build and grow our savings. We should be able to trust our financial advisers to put our interests first. But loopholes in the current law make it easy for many advisers to take advantage of hard-working Americans and line their own pockets with our retirement savings. 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. Steve Baird