Subject: File No. S7-14-08
From: Jack W Buchanan, Jr
Affiliation: Financial Advisor

October 21, 2008

I believe that the series 7 license should be required to sell indexed annuities. The representative should have a working knowledge of the stock indexes before he/she sells a product that is tied to the stock index. Clients are not served by an unlicensed representative that only sells a product tied to a market that they do not understand. Often it has been my experience that they actually sell against a market that they do not understand with idexed annuities.