From: William G. Hammond
Sent: June 13, 2007
Subject: 12-b Fees

As an advisor for over 30 years 12 b-1 fees help cover the cost of servicing the clients after the initial sales has been made. Clients need to have follow up with their advisors. These fees are just a small way to compensate advisors for the work they perform.Clients follow up with us at tax time saying they can't find their 1099.
They call and ask us to get the cost basis of their shares that were sold the previous years. Someone has to take time out of their schedule and do this work.Whoever does the work should be compensated for it.

Overall the market place is educated enough to know about 12-b-1 fees. It should be no surprise to investors. My clients sign a disclosure statement so I know they are aware of the fees.

William G. Hammond, CFP
Hammond Investment Planning Corporation