Subject: File No. 4-606
From: John W Fiege
Affiliation: CFP, FPA, NAPFA, RIA in Virginia

August 24, 2010

Dear Sir or Madame:

Quite simply, I feel strongly we must implement the fiduciary standard, as advocated for by the Financial Planning Association, the fee-only group National Association of Personal Financial Advisors and other independent groups. It is best for our country and for the individual advisor. It is frustrating to see so much lobbying by the brokerage industry be effective against this rule when it so clearly a conflict of interest to the United States and to investors.

Far too many clients have no idea what their broker or non-fee only financial advisor/planner charge them or earn on their account. When I detail this for a client, which sometimes takes many hours due to some broker's resistance to doing so, they are usually shocked by the hidden costs.

And even more so when they find out the advisor did not have to put his/her interests first.

Implementing the fiduciary standard is one of many ways to put some teeth into getting Americans from being so stupendously ripped off by Wall Street

Thank you,

John W. Fiege, CFP(r)