August 2, 2010
Dear Sir/Madam,
I strongly feel that regulations is needed to protect people from harm but I strongly feel that this new law will
not be more beneficial to people. It will not provide add'l safeguards for the time and cost involved to implement. It will cause many to not be able to serve clients or stay in business due to the higher cost and time required if this law passes.
We are heavily regulated by our employers and broker/dealers due to the laws that are already in place
This law will cause more harm as more fees will be needed to keep us to do business. More cost and time will be a
major factor on how we can service all our clients and stay
in business making a living. We will also not be able to
service clients who have one or small accounts.
It can turn out that many in the middle income will not be able to afford using advisors and many advisors may not want to continue to stay in this business. Thus, will cause limits on accessible, qualified advisore for middle income families who are the ones who need the help the most.