Subject: File No. 4-606
From: Sharon D Ward

August 24, 2010

-I wish it were possible to legislate morals, but it is not. We do not need more regulations. The suitability standard makes it clear what should be done. Adding another layer of compliance will only make the process more cumbersom and expensive. The clients that I work with are not willing to pay for financial advice. Every person has individual needs, that change over time. We are not always able to get all of the information from the client that plays in the decision of what is the best choice. It is not too unusual for a client to have investments with more than one representative, and not inform either representative that they are dealing with someone else also. We offer several choices, and the client makes the decision. The money and the financial security are the client's. I do not worry about what comissions the choices I offer pay. I feel if you do a good job for the client, my income will take care of itself.