Subject: File No. 4-606
From: Steven C Colson, ChFC, CSA, RFC, LUTCF
Affiliation: Society of Certified Senior Advisors

August 24, 2010

I am an independent Financial Planner and Investment Advisor Representative. I hold the Series 7, 6, 63, and 65. I am educated, hold the Chartered Financial Consultant, Certified Senior Advisor, Registered Finacial Consultant, and Life Underwriter Training Council Fellow. I meet rigorous Continuing Education requirements annually.

My office has recently been audited by FINRA and the State of Texas Securites. NO compliance issues were found. My Broker Dealer audits each client transaction, new account submission, hosts quarterly meetings to keep the Registered Representatives informed, and audits each representative annually.

I maintain an honest and ethical financial planning practice.

I SUPPORT "THE SUITABILITY STANDARD" that looks forward and tries to prevent harm to consumers through ongoing and frequent FINRA and broker-dealer audits and compliance processes.

Switching from "Suitability Standard" to a "fiduciary standard" would require my business to charge UNNECESSARY fees to clients in order to cover the additional overhead expenses needed to meet new compliance demands. Switching to a "fiduciary standard" will cause me to have additional liability, thus increasing the premium on my Errors and Omissions insurance. Switching to a "fiduciary standard" will cause clients to pay unnecessary upfront, or ongoing fees. This is not fair to the consumer.

As a resource in my community, I provide a lot of pro-bono advice to many individuals. Some who are just starting out, trying to accumulate. Some who are in the "sandwich generation", addressing financial issues with their kids, college expenses, and having to take care of their aging parents. Many don't have the ability to pay a fee - - or rather, I would prefer they use the fee they would have to pay me under the 'fiduciary standard' to pay off their debts.

The "SUITABILITY STANDARD" is the better choice. It is vibrant and works well. Support the "Suitability Standard."