Subject: File No. 4-606
From: Enid Baggett

August 30, 2010

I think brokers, dealers, and investment advisors should ALL have a fiduciary duty to act in the best interests of their customers. Most people who use their services are clueless about what these people may be selling them. The brokers and dealers should be required to explain ALL fees, costs, and loads of the funds they are selling, to their clients.

I think the titles are confusing, and all three should have a duty of care to take care of their customers, as the advice they are giving affects people's retirement.

If brokers and dealers do not have a fiduciary duty to customers, they should be required to disclose this to their clients. My husband and I have been ripped off by different brokers and dealers who sold us horribly expensive mutual funds that collapsed in the past ten years. They never told us what incentives or commissions they were receiving by putting us in these funds, nor did they adequately explain the loads for the funds.