Subject: "File Number 4-606"

August 29, 2010

When I moved to Utah >20 years ago I started investing with a broker who was then employed by my credit union.
About 10 years ago, the CU decided to outsource the investment dept, still inside their building. The cocky young broker whose quick rise through the ranks I witnessed until HQ moved to another part of town, took over my account, but never contacted me personally, but left me tot discuss my options with 4-5 different advisors in as many years.

After 17 years with one company, I retired 6+ years ago, then got employed again and invested most of my salary into those companies' 401K's until last year. Twice I changed employers and rolled-over -for me seizable- amounts into an account advised by people I had not met before, who were sent over by "my" abitious broker at the CU affiliate. This left me a feeling uneasy as to who was making money off my nest-eggs.

Because of the CU's changes in employees/investment associates, I had to talk to several investment advisors in those few years.
I like my credit union, but do feel that larger investment departments do not look out for the customer like I was used to with my CU-paid brokers. It's like going to the doctor, one must know what pills to ask for.
I hope the new regulations will keep brokerage companies honest and aware who pays their salaries.

Nelly Klooster