Subject: File No. 4-606
From: Peter B. Bondioli, CLU, ChFC
Affiliation: Financial Representative - Northwestern Mutual

July 30, 2010

I have been a Financial Representative of the Northwestern Mutual Financial Network for 38 years. I am currently assisting my clients in the purchase of insurance and investment products using the "suitability standard". I always try to do the "right thing" and to do for my client what I would do for myself given the same situation. Even doing things that I am sure at the time are best and most suitable do not always work out the way we think. Imposing a Fiduciary Standard will simply give people yet another opportunity to find someone to blame if something goes wrong. You will find much fewer people available to provide advice, counsel and assistance if a move is made to a Fiduciary Standard. The common person who needs help the most will find that no one wants to assist them because the liability and consequences are too great. A BIG mistake would be made in doing away with the "suitability standard".