November 3, 2008
To Whom it May Concern:
To put it quite simply, I have been helping people for over 27 years. While no account is perfect (in the market, in the bank, etc.), indexed annuities accomplish for me and for my clients 2 or 3 important things, i.e. safety, growth, simplicity, etc. Since about 2002, using these types of accounts (I have four, myself, for my retirement), we have the peace of mind that was never available with variable types of accounts, and stocks...i.e. variable annuities and mutual funds. If "we" as advisors, planners, etc., would be required to now have a Series license....I believe in my heart, many many would "quit" the business, and many many folks would be left without the advise that they want and need.
Yes, there have been "abuses", but having a Series license would not pre-empt those that are bent on doing such things.
I receive my Series 7 in 1986, and had it active until July of this year.
I hope that the SEC will not adopt this proposed ruling.
Thank you for the opportunity to comment.