Subject: File No.4-538

August 6, 2007

Dear Ms. Morris:

I am a licensed insurance professional and mutual funds salesperson.

I am concerned about the possibility of a change or repeal of 12b-1 fees. I work hard to give my clients the competent professional advice and guidance in financial planning matters. I care for my clients and wonder how I can continue to afford to devote the time and effort needed to provide this service. I feel a sense of duty to continue offering this service and will, but I also worry how I can continue to maintain my profession as a successful business. If I am to make the proposal to a client that a long-term outlook in investing with out moving their money around, I will have to budget my time and effort on accounts sizeable enough to fund all of my future work on this clients finances. This will result in not working with the working class of my clientele, for fear that too much future time spent with this client will make my profession unprofitable enough to continue to provide a living for my family. I think that the clients would rather pay a small percentage in 12b-1 fees, that I explain to them prior to investing, rather than having less contact or having to pay me a fee to continue to advise them.

I urge you to consider the fact that the majority of us hard working professionals are not getting rich off of ill gotten fees, but simply providing a service for compensation to all of our clients, not just those wealthy enough to afford quality advice on a hourly or fee base. Thank you for your consideration in this matter.


T. Brian Brandt