Subject: File No. 4-606
From: Brad M Maruschak
Affiliation: Vice President, NAIFA Louisiana

August 20, 2010

I am opposed to the application of the Fiduciary Standard of Care to all registered representatives of broker-dealers. The idea that adding more regulation will help the consumer is both naive and false. The "bad guys" who are just out for themselves will continue to operate this way. More layers of regulation will cause more compliance and more compliance will cause higher costs. This will force me to go to a fee based model and the majority of my potenetial clients will not be able to use me and my services.

I have always operated in a manner in which the clients needs come before mine and it is absolutely insulting to say that a financial advisor only does what is best for the client if he is under this fiduciary standard.

Please do not force me to go to a fee based model which will be devastating to the client base I serve. The advisors who are for this standard are working with clients who can pay the fees and are not looking out for the little guy.

Brad Maruschak