Subject: File No. 4-606
From: Michael S Ross
Affiliation: Financial Advisor

August 2, 2010

The fiduciary standard seems to go too far for advisors. We are already bogged down with a massive amount of compliance issues. In addition, it will most likely drive more advisors out of the business. The ones who stay will move to a fee based model that could very likely eliminate financial planning advice for clients with smaller amounts of assets. Then the public would be screaming that the SEC and financial advisors are ignoring small clients.