August 19, 2010
To Whom It May Concern:
Your proposed changes to 12b-1 fees will essentially cause me to terminate longstanding relationships with some one-hundred thirty-one clients, whose account values are less than $25 thousand. This will be painful, since many of these small accounts are friends.
In short, this proposal will eliminate personal advice and service for small investors.
I strongly urge you to leave 12b-1 fees as they now stand.
Mr. Joseph Towson
Raymond James Financial Services, Inc.