November 13, 2008

Subject: File No. S7-14-08

Regarding the Annuity Rule referenced above—

I am in favor of the SEC oversight in addition to State Insurance Commissions. If you received as much email and mail from vendors telling me how to get RICH selling indexed annuities you would wonder too. I have tried to find a reason to use them in my financial planning business and I am licensed to sell insurance—but to no avail. They never make sense after all is said and done in my opinion. More than once I have uncovered significant overuse of these annuities in elderly clients investments.

I also do not believe most agents understand what they are really selling. They do, however, seem to understand the compensation to themselves.

Respectfully,

Troy E. Jones, CFP®
Member of the Financial Planning Association
Small business owner with 10 employees
Concerned citizen
Fiduciary for my clients