Subject: File No. 4-606
From: Lynda D Turner
Affiliation: National Association of Insurance and Financial Advisors (NAIFA)

August 2, 2010

Adding another layer of fiduciary standards in addition to the stringent compliance regulations of our Broker Dealers and FINRA guidelines is not prudent for the consumers.
After 25 years of serving my clients and having their best interest in mind at all times, I resent having yet another entity advising what is best.
The consumer will end up paying more for services, due to the high cost of administration of all the "watchdog" services imposed. They will simply not invest and only use the local bank to control their finances.
As Registered Representatives and members of NAIFA,we protect the interests of our clients. This new regulation is suggesting selling the cheapest product from the most reasonable carrier regardless of licensing. It is not possible to be licensed with multiple Broker Dealers.
It appears the SEC feels every representative in the business is running a Ponzi Scheme and wants all companies to be out of business.