March 1, 2004
While there have been significant fines and charges levied against various mutual fund providers, and while it may seem that there is an unlimited number of dollars that are available from the mutual fund industry, a large number of us who service and sell to the individual consumer are in a constantly shrinking profitability situation. Most of the mutual fund providers and broker dealers have been simply transferring costs down to the lowest echelon - us. If you are attempting to clamp down on the excessive costs that you perceive are being charged to the individual consumer, please avoid the self destructive mode of denying/removing 12b-1 fees which are a minimal income for us that sell and service the mutual fund industry.
These comments are indicative of those of us that market in a more rural population area - perhaps this segment of the population is not as important from a political base?
Thank you for your consideration.