Securities and Exchange Commission Investor Advocate Rick Fleming said Tuesday he will push SEC Chairman Mary Jo White to use a “significant” portion of its extra $150 million for 2015 to go to increased financial advisor oversight.

Considering it took three SEC chairmen to anoint him as the first advocate four years after the Dodd-Frank Act created the position and he has only a handful of staffers, his clout within the agency may be limited.

Even if White does use the money for more exams, Fleming said the increased funding is unlikely to bring the full level of examination coverage needed.

Fleming called SEC exams of advisors critical to investors.

Noting the frequent inability of lone investors to fend for themselves in dealing with unscrupulous advisors, Fleming noted, “Fraudulent or abusive practices by an investment advisor can be very difficult for an individual investor to detect, particularly if the advisor goes so far as to falsify account statements or other records.”

Fleming’s comments came in his initial annual report to Congress.

In his report, Fleming said aggressive enforcement of fiduciary duties rather than new rules are needed to prevent hybrid advisors from profiting unfairly on fee-based accounts by doing little as brokers who could have been tempted to do excessive transactions to gain income enter the advisory market.

The official said the three biggest investor problems in the last year have been private placement offerings, variable annuities and non-traded real estate investment trusts.

He said among the biggest investor dangers in variable annuities are hidden fees including surrender charges, mortality and expense risk charges, administrative fees, underlying fund expenses, and charges for bonus credits and other special features.

Non-traded REITs are high up on his problem list, said Fleming. In part because they are illiquid making them difficult for investors to value and sell.

Pointing to another issue with the investment, Fleming said, “Unlike publicly traded REITs, non-traded REITs often make distributions in excess of their taxable income using borrowed funds and offering proceeds. This can deflate share value and reduce the cash available to purchase additional income-generating properties.”

Fleming called for aggressive enforcement to combat a growing problem with binary options where the profit or low depends entirely on whether a stock or other underlying asset rises above or falls below a specified amount.

The most common investor complaints with the options, according to Fleming, are refusals to credit customer accounts or reimburse funds to customers; identity theft; and manipulation of software to generate losing trades.