July 19, 2007

First, thank you for taking my comments on the issue of 12b-1 fees. As a mutual fund salesman and licensed insurance professional, I just wanted to share my thoughts on compensation for providing assistance to my clients.

As insurance agents get renewals to provide continued advice and assistance to their clients, so do sellers of mutual funds to provide the same type of help and assistance in looking after our clients best interests. These 12b-1 fees are very nominal in helping to cover the expenses of sales people.

I believe the elimination of 12b-1 fees would do considerable harm to those investors who want and need ongoing investment planning advice and counsel. My clients expect me to be available on a moments notice to provide this assistance, and I try to respond quickly to their many requests and questions regarding their investments. They know that I receive my compensation in this manner and have not complained about it, because they know that I am available on a moments notice. They expect me to be compensated in some manner, and 12b-1 fees are lower than if I were to have to start charging an hourly or asset-based fee for receiving the same service.

I would like to 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.

Thank you for your consideration of my views on this subject.