March 15, 2004
Dear Sir or Madam,
As an investor in the stock and bond markets both in the form of individual positions, mutual funds and other newer types of pooled investments I strongly urge you to take
into consideration more robust disclosure by brokerage
firms and their product providers as to the current and
potential future costs of participating/owning what they
Full disclosure should not be impared because it hasnt
been that way in the past.
Full disclosure should not be impaired because it is
uncomfortable for the brokerage firms to let the investor
know the true costs of buying their offering.
Full disclosure should not be impaired because it appears
to some that more information could confuse the investor.
And 12b1 fees should be eliminated. If the cost associated with marketing of funds is a valid expense, let the fund provider include that cost directly in the expense ratio. What is important to the ultimate buyer is the total cost of owning the investment, not the components of that expense.