I AM A LICENSED INSURANCE PROFESSIONAL AND A REGISTERED REP WITH THE NASD. I AM WRITING TO EXPRESS MY CONCERNS WITH THE POSSIBILITY OF ELIMINATING 12B-1 FEES. IN MY BUSINESS I AM EXPECTED TO NOT ONLY EVALUATE A FINANCIAL POSITION FOR MY CLIENT, FORMULATE A FINANCIAL PLAN, AND ASSESS THE RISK TOLERANCE FOR MY CLIENT, BUT I AM ALSO EXPECTED TO BE READILY AVAILABLE TO ANSWER ANY QUESTIONS AFTER THE SALE AND WORK TO REEVALUATE THE PLAN AND UPDATE THE PLAN PERIODICALLY. SO AS YOU CAN SEE, THE 12B-1 FEES ARE MY ONLY COMPENSATION FOR ALL THE WORK THAT FOLLOWS THE INITIAL SALE. I THEREFORE STRONGLY OPPOSE ANY RULE THAT WOULD ALTER 12B-1 FEES IN A NEGATIVE MANNER. THE FEES ARE TOO LOW NOW. ON A $10,000.00 INVESTMENT THE TRAILER OR 12B-1 FEE MAY BE AS LITTLE AS $25.00 AND THAT IS SPLIT BETWEEN THE BROKER-DEALER AND THE REGISTERED REP. MY CLIENTS RECEIVE FAR MORE THAN $12.50 WORTH OF ASSISTANCE AFTER THE SALE.

PLEASE DON'T PUNISH THE INNOCENT FOR THE CRIMES OF A FEW. I AGREE THAT ANYONE INVOLVED IN UNETHICAL PRACTICES SHOULD BE PUNISHED, BUT THE MAJORITY OF US WHO WORK IN THIS INDUSTRY ARE ETHICAL AND ABIDE BY THE STRICT RULES OF STATE AND FEDERAL REGULATORS.

THANK YOU FOR LISTENING AND CONSIDERING MY COMMENTS,

TIM CARDWELL