Subject: File No. 4-606
From: Steven Sant, CFP
Affiliation: Managing Partner - Sant, McMahon Sparks, LLC

August 24, 2010

Requiring everyone that provides personalized investment advice to adhere to a fiduciary standard is the logical outcome in the aftermath of our recent Wall Street melt-down. Investors had assumed that recommendations made by their financial advisor were in their best interest (fiduciary). Financial CEOs testifying before congress that they were obligated to protect their shareholders, not their investors, rightfully destroyed investor trust and confidence...necessary ingredients for a healthy financial system.

Certified Financial Planners, and some others, have operated under a fiduciary standard for over a decade, while the majority of investment advisors/brokers operate under a suitability standard. Investors expect and deserve to have a single standard of care, and it should be the highest standard.