June 18, 2007
On the issue of 12B-1 fees....
I currently use a personal financial adviser to manage my investments and I happily pay a 1% fee for the services he provides.
I am completely aware of what the cost I am paying for this service and I am happy to pay it as the additional return on my investment portfolio justifies this expense. While I understand the desire to protect consumers from paying excess fees, you must preserve the right of consumers like myself (how are not high net worth...yet) to willingly pay a service fee for individual portfolio management.
I urge you to find a satisfactory safeguard that also preserves the right of consumers to pay an additional fee for a service they deem to be well worth the investment.