Subject: File No. 4-606
From: Jarrett A Koenemund

August 30, 2010

Having spent the last 9 years in retail financial services, I believe the rules surrounding the obligations of brokers, dealers, and IA's should be clear...There is an inherent conflict of interest if financial professionals do not have any fiduciary responsibility to their clients.

Trust in critical in any broker/client relationship, and when a broker has no fiduciary responsibility to their client and is free to make recommendations that benefit their bottom lines as opposed to those of their clients, that trust is broken.

With the proliferation of baby boomers that will be entering retirement over the next 10-20 years, there will be a significant increase in the number of people turning to financial professionals for investment advice, and I strongly believe that the SEC should take a pro-active role in protecting the interests of these retirees (along with all other investors) by implementing fiduciary responsibilities rules for ALL brokers, dealers, and IA's.