Subject: File No. 4-606
From: Donald S Meyer, CLU, ChFC
Affiliation: Financial Consultant

August 2, 2010

Thank you for the opportunity to share my thoughts on the issue of fiduciary standards versues the suitability standard already governing broker-dealers (and dictating how I am to conduct my business with our clients).

First of all, I hope that you know and accept that the vast majority of registered representatives already are acting in a fiduciary capacity for our clients. Suitabilty is just one of the ways we execute that duty.

Second, the current regulatory environment has been working quite nicely and thus serves the consumer quite well. I really don't need more regulation.

Third, the investment advisors that decieve their clients
will not stop their behavior in spite of any regulatory
reform. They could care less and will continue to operate
until they are caught.

Let's focus on what we already have in place instead of creating more expense for those of us in the business (and passing those costs on to the consumer).