August 9, 2010
I strongly support keeping the C class shares intact. Without it there are many clients that will cease to receive the assistance they need. I have been an advisor for almost 30 years and in that time the C class mutual funds have played an important part in allowing me to help people develop a financial plan as well as monitoring of their portfolio. Without Class C funds I will be unable to provide the level of service they now receive. From a business standpoint that is the only way I can provide them with a professional financial plan as well as the professional monitoring of their portfolio. "Wrap accounts" are more expensive for my clients. A shares are much more expensive. The average holding period for mutual funds for my actively managed portfolios is less than 4 years. Therefore Class C shares make the most sense. Take this away and I will be forced to abandon many people who need my assistance.