Subject: File No. 4-606
From: Joseph S Burgess
Affiliation: Financial Advisor (15 years)

July 30, 2010

To whom it may concern:

My primary concern on the new fiduciary legistlation is how this will affect middle America.

The caliber of relationships, responsibility, and trust earned in a long term financial planning situation is second to none--when it comes to any service industry.

So, mandating additional processes in the an effort to protect our clients will likely not make a significant difference in the relationship, trust, or our recommendations. Good people do good things, not because of law, but because they are good professionals.

However, Each regulation added increases an advisors overhead. When an advisors overhead gets increased, the charge to clients gets increased. In turn, the percentage of the population that can afford to pay for that service decreases.

Right now, when more and more people need our help, these regulations will make it less and less likely for them to afford it.

Please consider not adding these additional regulations.