You've worked hard to save enough to enjoy your retirement. But a loophole in the rules makes it legal for some bad financial advisers to tell you where you should put YOUR money based on what's best for THEIR pocketbooks, not yours.
The result? Americans end up in riskier investments with higher fees and lower returns – and Wall Street makes billions.
The Securities and Exchange Commission is considering a new rule for financial advisers, but it isn't strong enough to protect older Americans' retirement savings.
Right now, they're accepting comments on their rule. This is our big chance to raise the pressure to hold Wall Street accountable. Tell the Securities and Exchange Commission to close this loophole!
We strongly encourage you to share your own stories and use your own voice in this letter. Personalized comments have the most impact, by far. Please use the following talking points to write your official comment:
By taking action you will join AARP's online network and will receive urgent news and action alerts about the issues that matter the most to older Americans, as well as information about AARP activities, events, and member benefits.
File Number S7-07-18: Stop financial advisers from sapping Americans' retirement savings
To the Securities and Exchange Commission:
Sincerely,[Your Name] [Your Address] [City, State ZIP][Your Email]