Subject: File No. 4-606
From: Mark Lazar, CFP
Affiliation: Professor of Finance, University of Utah

August 17, 2010

The securities industry has long since needed a clear distinction between brokers or registered representatives who merely sell securities versus financial advisors and/or financial planners. Advisors/planners should be held to a higher level of due care, however the public must be able to discern the difference between those who merely sell and those who hold themselves out as advisors.


Mark Lazar, CFP
Associate Professor
University of Utah