Subject: File No. S7-06-04
From: Robert A. Pierce, Jill M. Pierce, Earl R. Pierce, Spencer R. Pierce, and Dirk F. Hicks

April 4, 2005

Re: Additional Disclosure for Mutual Fund and Variable Annuity Sales

To SEC, Jonathan G. Katz, Secretary:

Please ask the NASD to withdraw the proposed rule concerning additional disclosure at the point of sale of Mutual Funds and Variable Annuities.

Savings and Investment in this country are very low. Anything that discourages citizens from saving or investing hurts them and the country at large. Prospectuses already give all of the information suggested and must be delivered. Why confuse the purchaser?

Thank you for your consideration.


Robert A. Pierce
Jill M. Pierce
Earl R. Pierce
Spencer R. Pierce
Dirk F. Hicks