Subject: File No. S7-14-08
From: KENNETH R JONES
Affiliation: Managing Principal, LPL Financial

September 2, 2008

I have been an investment advisor for almost 29 years, a Certified Financial Planner for 22 years, and a Securities Principal for 18 years. I have a successful financial planning practice with 4 registered representatives and approximately $70. million dollars under management.

I have been amazed that insurance agents have been allowed to sell "indexed annuities" without obtaining a Series 7 license. I believe any discussion of stocks, bonds, mutual funds, indexes, and other securities should be done only by angents that have studied securities as evidenced by successful completion of the proper securities school and subsequent exam.

Consumers cannot make an informed decision about their potential for return tied to the "stock market" without having a basic understanding of what makes up the "stock market". I also don't believe "indexed annuities" should be sold as "fixed annuities". Any product that promises "variable and unpredictable returns" should not be considered "fixed".

If insurance agents wish to counsel their clients on potential returns through investing in securities, then they should be properly schooled and licensed to do so. Being "Series 7" qualified and affiliated with a registered broker/dealer should be a minimum requirement.

K. R. Jones, CFP,GEPC,MBA
Managing Principal
LPL Financial