Subject: File No. 4-606
From: John Chavies
Affiliation: Merrill Lynch Advisor

April 8, 2013

As an advisor with Merrill Lynch for over 20 years and having over 22 years of experience in the industry I strongly support a uniform Fiduciary standard. Our industry has created confusion for consumers by tring to sit on both sides of the issue to reduce litigation risk. A move to a uniform standard would promotoe a more professional industry. As a part of the new standard it should include clarification and education regarding potential conflicts of interest and guidance as to what fair and reasonable compensation for a fiduciary should be.