Subject: File No. S7-09-09
From: Charles Joseph Ramos

July 27, 2009

As a small RIA with about $500,000 in fees, I am barely making ends meet with all the compliance and cost of doing business. If we could not deduct our fees automatically from Schwab accounts, I would need to hire someone to do collections and billing. If I continue to use our Limited Power of Attorney to deduct fees with Schwab's approval, I would then need to get an audit. I simply can't afford either of these options. And I don't think clients would want to get a fee increase to help cover these costs. Clients are upset enough with market performance the last year.

I appreciate your consideration,