From: Jeffrey D. Thiele
Sent: June 13, 2007
Subject: 12B-1 FEES


Any repeal of 12b-1 fee's, or as we in the industry recognize them as (on going client service and account review fees) would only motivate the Financial Advisor to another platform. All other platform fee's are greater than .25% (unless you are investing very large sums) You will hurt the average investor, who wants to use a full service advisor, and you will hurt the advisor by narrowing his/her choices on how to get paid. You will create more mutual fund switches among advisors and some un-wanted tax consequences to the client. The reality is, that advisors do service their clients after the mutual fund sale. If you take away the motivation to do so, it's human nature that the advisor will look to make a change for the client or will just abandon the relationship all together. How will you explain to the client/advisor who has a 25 year relationship with an advisor, who has owned the same group of funds for 20+ years, is content with the portfolio and relationship……that " your advisor will not be compensated any longer to service your account." What do you think will happen to that client/advisor relationship? Feel free to change what you want to call it, but you will create some serious un-wanted consequences if you remove the 12b-1 fee.

Thank you

Jeffrey D. Thiele
Branch Manager
A.G. Edwards