July 9, 2008
Changing EIA's to a securities regulated product will, in many cases, drive reputable financial advisors out of the business. All it will accomplish is to reduce by 25% to 50% the compensation we are recieving. This will cause reductionsin office staffing and services which in turn will affect the services we are able to provide for our clients (fixed or variable). All you are doing is transfering our income to the Broker Dealer's. The affects will be catastrophic to all small independent Financial service professionals who continue to provide the best advice and service to their clients. Every client is improtant to us. Big and small alike. Figure out another way and keep the Broker Dealers out of it.