From: David M. Crooks |
To whom it may concern, I am a 23 year veteran of the investment business, and approximately 60% of my client's assets are in non-fee based A share mutual funds, in some cases purchased 15-20 years ago. We employ a buy-hold strategy. If 12b-1's were to disappear, I would have no choice but to either resign as the broker on those accounts, move them to our fee based platform with a minimum fee of 1%, or start moving assets in order to generate commissions. I fail to see how any of these approaches benefit the client. Sincerely, Dave David M. Crooks, CFP®, CLU, ChFC, RHU |