Subject: File No. 4-606
From: David W Bowen
Affiliation: Certified Financial Planner Board of Standards

August 17, 2010

Dear Ms. Murphy:

I am a financial planner and an Investment Adviser Representative with about 200 clients and $30 million in assets under management. I've been serving clients under a fiduciary standard of care for 7 years.

It is not in clients' best interests, nor is it fair that the dependability of their receiving quality advice be related to whether or not the advisor has a professional title, like CFP, JD or any other.

From my experience I can tell you that my position as a fiduciary for my clients benefits them and is good for my business.

Many times I have had to work with clients who come to my office having been sold investment and insurance products which have either done them no good, or even caused them harm. These recommendations are made by sales people who are not required to attend to a fiduciary standard of care. I am, and it is a blight on the industry that this can happen.

Adhering to a fiduciary standard of care allows me not only to make a profit, but to be assured that every recommendation is made with that client's best interest in mind. Why would anyone want it any other way?

By proper recommendations, transparency in my explanations, and putting the client first in all things the SEC has an ally through me and others like me in the field.

I urge you to recommend to Congress that they extend the fiduciary standard to every broker-dealer who provide personalized investment advice. This is both appropriate and and necessary for improved safety in the retail investment markets. Please initiate a rulemaking that would help to achieve this long overdue consumer reform.


David Bowen
7229 N Thornydale Rd.
Tucson, AZ 85741