August 20, 2010
This letter is to sincerely express to you how important the need to service clients is to our industry. Our role as advisors to clients is needed more today than ever before.
The economy and the market changes are so complex today that the majority of the "public" has no clue how or what to do to protect and accumulate their financial future.
Taking away ability to serve clients by changing the structure of the 12B1 fees and to consider making us "employees" rather than contractors, goes against the very thread of what this country was founded by our countrymen.
Please consider the service issue and where a client is going to get the information needed to managed and understand their financial goals for the future.
My request would be to leave these two issues as is and allow us as independent advisors, to be able to provide full services to our clients.
Your consideration and time in this issue is appreciated.
Sincerely,
Stephen M. Rice
Registered Representative