From: Jennifer M. Urgonski, MBA
Sent: July 9, 2007
To: rule-comments@sec.gov
Subject: File No. 4-538


To Whom It May Concern:

I hold a Series 7 Securities license and am affiliated with the broker-dealer Signator, Inc.

I wish to make my feelings known regarding the 12b-1 debate. The trail compensation that I receive is very similar to the way that insurance agents receive renewal commissions on insurance policies that they sell. Elimination of this 12b-1 fee would create issues to investors who wish to obtain ongoing advice and counsel from their investment advisor. I disclose this 12b-1 fee to all of my clients, and I have never received any complaint from them regarding this. They do not mind paying this small fee for the ongoing level of service that I provide.

I urge the SEC to reject any proposal to eliminate or restrict the payment of 12b-1 fees to registered representatives for providing continued service to their clients. This will hinder the investment industry to a great degree. Thank you for your consideration of my views on this subject.

Sincerely,

Jennifer M. Urgonski, MBA
Investment Advisor Representative
John Hancock Financial Network
3900 Edison Lakes Parkway, Suite 120
Mishawaka, IN 46545