From: Gary D. Richmond, Sr. [gdrichmondsr@mscmail.biz]
Sent: Friday, May 07, 2004 12:18 PM
To: rule-comments@sec.gov
Subject: Comments on S7-09-04

As a financial advisor I believe that the adoption of Rule 12b-1 has been a 
substantial benefit to investors.  12b-1 fees pay financial advisors 
something for their on-going professional service in behalf of their 
clients.  This is especially important for the smaller investor who invests 
with a financial advisor such as myself and is not being charged an annual fee 
for managing these monies!