Subject: File No. 4-606
From: Scott D Knapp, CFA
Affiliation: Investment Strategist

March 27, 2013

As a citizen and practicing investment advisor, I wholly support adoption of a single standard of care for all industry participants who provide investment advice or sell financial products. I support adoption of a fiduciary standard that would be applied in any retail setting where individualized advice is provided. Prudence and loyalty should be required of all industry participants, whether advice is explicitly provided under a service agreement or incedental to a sale of a financial product.