Subject: File No. 4-606
From: Katie Beilke

August 23, 2010

As a Financial Services Professional, I run my business by looking at things from the viewpoint of my clients including potential clients. I look to serve them to the best of my ability.

The current recommendation of fiduciary responsiblity greatly concerns me from the CONSUMER standpoint. I will do the research and find a variable annuity that may be a perfect match for my client's needs, to discover that I'm not able to offer it to them. That doesn't concern me as much as the client's response to me telling them that, "sorry Mr/Mrs Client. I've found the perfect solution for you. Bad news is, even though we've created a beautiful relationship and I've enjoyed getting to know you, You now need to find an Agent that can SELL you the annuity I'm recommending since I'm not appointed by XYZ Company." The other thing that I question is how beneficial is this for them? Now they have the stress of finding a Financial Services Professional that they HOPE will take good care of them and be relationship focussed (not transactional) in the business for the right reasons. Will that next conversation (with their new Agent) be relationship or transaction based?

I understand the concern for consumers... to make sure that all options and views are considered, but there are some pretty critical downfalls to the current proposal. Please go back to the drawing board.

Warm regards,
Katie Beilke