Subject: File No. S7-15-10
From: Robert Young
Affiliation: Owner, Executive Investments LLC

October 13, 2010

In regard to 12b1 fees, if those are reduced or taken away from brokers such as myself, the investors, (our clients) will be the loser. We as brokers will not be able to afford the time to monitor their existing accounts as we will be spending all of our time looking for new clients. Many brokers will be moving the clients to new investments for the commission even if in many cases that would not be the right thing for the client. 12b1 fees help us to continue to keep those clients in their investments for the long term which time and the markets have proven is the way to grow your money. The more trading done, much of which is unnecessary, only reduces the ultimate value of the clients assets. It does however increase the amounts of commission the broker receives.

Again, 12b1 fees serve a purpose and they ultimately provide long term stability for the client and reduces churning.


Eddie Young