Subject: File No. 4-606
From: David C Willis
Affiliation: CASL, CLU, ChFC

August 9, 2010

I do financial planning (as a ChFC) did surrender my CFP because of issues between State Farm Insurance and the CFP Board about what consitutes planning and fiduciary issues. I have feet in both sides of this argument and I have come to the following conclusion.

I am opposed to the fiduciary standards because of:
1. Unintended consequence, I do not believe it will enhance the protection and buying experience for most consumers
2. Most importantly it opens the door to all types of regulation and litigation, it appears this is an open door for the Trial Lawyers Association and is another source of revenue for them at the expense of clients and the economy.