From: John E. Jeannot |
Dear members of the SEC board of Trustees, Please allow me to get right to the point regarding the possible removal or modification of our 12b-1 fees. "ARE YOU NUTS?" I have been in the Insurance and Securities business for 27 years. As a result of this business I have been able to raise my children one dollar at a time. It has been and still is a good practice to be in, not to mention the satisfaction I receive for helping my clients realize their dreams. I am not going to go through the numbers on how little we are compensated for giving our clients good sound advise because you already know the numbers. I am one of the good guys when it comes to the spirit of the law as well as the letter of the law dispensing with an honest and fair disclosure to my clients. We are to be transparent which is more then I can say what I have witnessed at your level over the years. To start reducing our pay structure would be fatal to my economy, our clients needs, and to the whole industry when it comes to introducing and recommending certain Mutual Funds to our clients portfolios. Do not be so foolish as to tamper with the very lively hood that has made this industry great for those of us who respond and cherish our clients needs daily. If you do not work for free, I suggest you do not ask us to. A better approach to your possible tampering of our income is to start with your income at the top. I would like to see you take a reduction in pay. Thank you in advance for not making any changes to our 12b-1 structural fees. Sincerely, John E. Jeannot, LUTCF Jeannot and Company Financial Services |