Subject: File No. 4-606
From: Stephanie A Hurt, CFA

March 28, 2013

I believe that most investment management clients do not know or understand what standards various kinds of financial advisors are held to. I support adopting a single standard of care for all types of financial advisors. All providers that are engaged in similar activities should be treated in the same manner. I believe a fiduciary standard should be applied to all providers that offer personalized investment advice. If an investor is receiving personalized investment advice, I believe that they expect their advisor to act as a fiduciary and they don't understand that some providers are not held to that standard and the investor often times does not understand the difference.