Subject: File No.
From: Thomas P McCaffrey
Affiliation: Allstate Insurance, National Association of Insurance and Financial Advisors, NAIFA, McCaffrey Agency

October 27, 2010

I agree on the idea to change the name of the 12b1 fees so that the common investor understands what he is paying, but if you begin letting broker dealers set their own fee amounts, the average Joe investor is going to be the one that winds up getting hurt. He's the guy that is already going to be in a bind because he's on a fixed income at retirement. Already trying to pinch every penny he'll deal with an advisor that charges a lower rate and gives him no professional direction on funds that he should be investing in, or he will try to manage his investments on his own and wind up loosing his life savings on a stock tip that a "Buddy" gave him.

Just remember, at this point, you are the one making the decision that is supposedly in the best interest of Average Joe. If you wouldn't recommend these "Low Budget/No Service" advisors to your mother or your Pastor then don't recommend it for Average Joe.

Thanks for your service to our country
Thomas McCaffrey