From: Gene R. Auriemma |
Dear Ms. Morris: The 12 b 1 fees help professional who are licensed to sell and advise on such products carrying said fee to provide advise and assistance to their clients at a reduced cost. Without the 12 b 1 fees, the advisor would have to pass along a cost to each consumer to defray the loss of 12 b 1 income. Disclosure yes, repeal, no. Gene R. Auriemma |