July 30, 2010
To whom it may concern:
I am an independent registered representative holding series 6, 7, and 63 licenses. I have over 24 years experience with registered products. I hold the designations of Chartered Life Underwriter, Chartered Financial Consultant, and Certified Financial Planner. I maintain membership in the National Association of Insurance and Financial Advisors, the Million Dollar Round Table, and the Society of Financial Service Professionals.
The compliance standards to maintain all of the above hold me to a great level of commitment to doing what is in the best interest of my clients. We do not need another layer of compliance, or fiduciary standards, to help us serve the public. Another layer of legislation would only add to an already heavily controlled service standard by increasing costs and time commitments to comply.
I believe that my clients get the best advice regardless of whether it is on a fee-based or commission basis. More compliance would not result in a better standard.