Subject: File No. 4-606
From: John Peter Benet, CFP CLU
Affiliation: Registered Rep, Financial Advisor, Insurance Agent

August 11, 2010

As a highly regulated individual already, I do not agree with the idea of imposing a fiduciary standard on all my dealings with clients.

As is, all my client transactions are reviewed by my broker-dealer's compliance department for suitability, etc. I am subject to the FINRA oversight of my work.

My various licenses (in over 40 states) demand that I act in the best interests of my clients. This is reinforced by my professional associations, the Certified Financial Planning Board of Standards, the National Association of Insurance and Financial Professionals, the Million Dollar Round Table, and the Society of Financial Service Professionals.

I am already monitored from every direction.

Most importantly, as one who has been in this business for over 35 years, the only way to be successful and prosper is to DO THE RIGHT THING for your clients.

The fiduciary standard becomes a way of holding someone liable--in hind sight. The suitability rules demand that we know our clients and act in their best interests.

This I do. Another level of red-tape merely hinders us from better servicing our clients.

Thank you. JPB