From: Mike Kennedy
Sent: July 9, 2007
Subject: File No. 4-538

To be short and sweet the SEC SHOULD NOT consider restricting or eliminating the 12b-1 fees paid to advisors for ongoing payment for advice. Full disclosure and description of the payment of 12b-1 fees is a good thing as transparency is a very important thing in the investing community. However the elimination of these fees would cause many advisors to simply ignore their clients in any ongoing advisory role which should be their primary responsibility. It is simply not in the best interest of clients to lose the advice garnered by many reputable financial advisors. And in doing so you would eliminate a portion of earned revenue and future livelihood that the SEC has allowed for many years.

Transparency and full disclosure is the key. If you know what you are paying for as a client you are less apt to feel slighted.

Mike K.

Mike Kennedy
OSJ Branch Manager
InterSecurities, Inc.
4333 Edgewood Rd NE #2315
Cedar Rapids, IA 52499