From: Brett W. Everhart |
As a registered principal and NASD arbitrator I am adamantly opposed to removing 12 B-1 fees. I do feel however the purpose of the fee should be more accurately characterized. In 1980 it was paid for marketing and over the last 27 years it is clearly evident the purpose is to provide service and advise to shareholders. I firmly believe the registered reps in general do a good job with service and advise and are thus deserving of the fee. Brett W. Everhart |