Subject: File No. 4-606
From: Patricia J Hegger
Affiliation: plain old investor

December 16, 2010

It is outrageous that investment advisor aren't required to act as a fudiciary on behalf of their clients. I've used an advisor and they, of course, put me in load funds, which I later found out were no better than no-load funds. After that investment was completed, I never heard from this advisor again. He made his money off me and was too busy looking for new patsies. I was uninformed and truly trusted that this person was looking out for my interests, and I believe this is how most people invest. Most investors realize they don't have the expertise and expect that their advisor will do what's in the investor's best interest. I can't tell you how many people I've known whose advisors put them in annuities which is even worse than load funds, I have since learned. This should not be allowed to happen. Most annuities benefit the advisor and almost never the investor and it makes me angry everytime I learn about someone I know who buys into the annuity lies. It's time to stop this practice and make all advisors fiduciaries of their clients. It's the moral, ethical thing to do. Doesn't Wall Street make enough money? No, they want to make sure they get their fair share of everyone's money, even those who can least afford it. Please stop this terrible abuse of those who are just uninformed and vulnerable. Patricia Hegger, St. Louis MO