Subject: File No. 4-606
From: Jimmy C. Alexander
Affiliation: National Association of Insurance and Financial Advisors

July 30, 2010

I understand that the Secretary will be considering whether to create a Fiduciary Standard on Registered Representatives. The cost to all of my clients will only increase if there is such placed on us who advise. The more copliance, the more expense to the client. The reason being, is that costs are always pushed on to the client.

Currently I am an insurance agent and must follow compliance with my companies, the commissioner of insurance and our own agency standards. Each 24 months, we must do 23 hours of continuing education, with an additional 8 hours for LTC products.

When I have a client that I do a program for, I spend at least 5 hours (many times much more) with that client, just setting up the program. Then I do a monthly check to make sure they are doing well, plus I do a full annual review and go over the program again. Each time, we must fulfill all compliance requirements on each client.

I keep records of everthing and must do so for 7 years. (that is state law)

Thank you for your wise consideration, before making a new decision that will cause more expense to the financial advisor and ultimately be passed on the the consumer.