August 24, 2010
Please be advised the proposed changes would adversely affect my practice and my ability to service my investment clients. The additional requirements would force me to a fee-based planning service which would increase the cost to the consumer or force me to drop my securities license. If tens of thousands of advisors drop their securities license due to this rule change, the remaining advisors would greatly decrease the amount of time they spend on client accounts. In effect this would impact the consumer in a negative way, they would pay more and receive less service. In theory, the rule changes as proposed seem to provide a benefit. However in practical application would actually do the opposite. I respectfully request the changes not be made.
Kyle B. Walker