Subject: File No. 4-606
From: Shawn K Petersen
Affiliation: Thrivent Financial

August 13, 2010

Regulatory Changes,

As an advisor working for a company that has always looked out for the client first, adding fiduciary standards to all the work we do will just add to the complexity of our business. Current suitability standards for broker-dealers and representatives are already stringent enough and at our company, strickly inforced. In a business that is difficult enough to survive in, adding another layer of compliance with the fiduciary standards will force and keep many good advisors out of the business. The consumer would altimatly loose by not having access to a good advisor especially if they are required to now pay advisory fees. In a fiduciary role, it would open the door to many frivoluse law suites that would increase the cost of business to the consumer and advisors alike.

Please consider carefully the impact of such changes. My recomendation is to inforce current laws and pay paticular attention to those that have created the problems we've seen in the last several years. As it has alway's been, a few bad apples can spoil it for everyone and for those of us that try and do the right thing for our clients, we will pay the price.

Thanks for your time and consideration.