Subject: File No. 4-606
From: Kenneth R Bakula
Affiliation: CFP, CLU, ChFC

August 6, 2010


I have been in the financial services business for 30 years acting in the capacity of a Financail Representative and as a Certified Financial Planner. I am greatly opposed to the new proposed regulations that the SEC is considering. I have no problem with full disclosure as long as it pertains evenly across the board to banking industry products as well. I find the disclosure and research involved in finding the best possible product for a client too vague and impossible to inforce. It is way to subjective. I understand that investors need to be protected, but this law would be impossibe to impose on the average investor as amounts they invest are not big enough to show all options. There has to be a better way to govern the seperate worlds of financial advisors and full fee based financial planners. Their scope of expertise is far too different to become treated as the same. We now have accountants, bankers, insurance companies, attorney, brokers, planners crossing the lines between the two disciplines of planning and sales. When I meet with new clients I give them a disclosure of how I get compensated either way and let them choose which service is most approbiate to them, and in some cases they choose both planning fees and then after the plan, they implement with me on a fee or commission side fully understanding the cost associated. Please reconsider this proposal. Thank you Ken Bakula

Ken Bakula