Subject: File No. 4-606
From: David M Kover, CFP
Affiliation: Financial Planning Association

August 18, 2010

I am a Registered Investment Advisor in private practice. I have approximately 200 accounts and managae a combined total of approximately $40 million. Several studies have been conducted to determine the extent that the investing public understand the difference between a registered representative and investment advisor. The results have been the same people have no idea there are two different financial professionals let alone the difference in the level of disclosure and duty due to the client. They have no idea what a principal transaction is, even when it's disclosed on a confirmation. Why do kid ourselves in believing that the consumer is best served by byzantine rules that serve only to enrich big firms that seem to focus on selling products and give lip service to "financial planning"

Please, for the consuming public and those of us serious about elevating our profession to the next level, require all of us delivering financial products and/or services be held to a fiduciary standard.

thank you.