August 27, 2010
To Whom It May Concern:
The Dodd/Frank Fiduciary legislation that is being proposed is harmful to small independent broker dealers, insurance broker dealers and similar. Applying the fiduciary standard, particularly without clear explanations as to how to comply corporately with oversight, is foolish and misguided. While the behomeths of the financial industry act imprudently and get bailed out, many smaller companies act wisely, get no assistance and get harmed by the additional levels of oversight which squeeze our profit and ultimately cost the clients more. Please reject this legislation for the good of advisors and clients alike.