Subject: File No. 4-606
From: John A Kvale, CFA
Affiliation: President, Financial Company

August 25, 2010

August 25, 2010

Regarding File Number 4-606

Dear Sir (Madam)

As owner of J.K. Financial, Inc. a wealth management and financial planning firm, and with over 21 years of experience in the investment community, I can assure you the one item individuals are very confused over is fiduciary standard.

Item 3 and 4, address this issue in your comment request.
I continually find the general public is very confused concerning the various levels of standards for brokers versus investment advisors. I understand there are many broker related concerns and the industry was founded on a system of serving the broker related community first, and the general public second. Times have changed and investing is not just for the rich any more. The general common man has a 401k and often many different types of investments and is confused and has lost confidence in the system. I strongly recommend a common law that governs both investment advisors and brokers.

I do not envy your position, as change is always difficult, but I strongly feel that change is necessary in this case to stabilize and bring confidence back to the publicly traded capital markets.

Please feel free to contact me directly if you have further questions as I would be glad to give greater detail on what is really happening on the street of John Q. Public.

John A Kvale
J.K. Financial, Inc.
8222 Douglas Ave Suite 590
Dallas, TX 75225