From: Gary Frank [gary_frank2000@yahoo.com]
Sent: Wednesday, May 05, 2004 2:15 PM
To: rule-comments@sec.gov
Subject: 12b-1 (s7-09-04)

I manage over 90 million of client assets. My average
client has less than $75,000 in assets.  I can not
serve small clients without 12b-1 service fees, and a
fee based account will cost them too much.

If we want the average investor to receive honest
advice without forcing a broker to churn to generate
commission so the broker can survive, we must keep and
really MUST INCREASE 12b-1 service fees.


	
		
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