Subject: File No. 4-606
From: Gary W. Sandifer, CLU
Affiliation: NAIFA

August 4, 2010

-Relative to this study, I strongly feel we are already highly regulated by both state and federal government. The last thing we need is more government red tape and interference with small business people such as myself. Although there are a number of concerns I have for this attempt in additional governmental intrusion in our lives such as additional expense in the cost of doing business uncertain legal exposure for years in the future by unscrupulous attorneys, there is one huge concern I have for the average person in places around American in small communities such as mine. In an area of the socieconomic demographics where I live, low wages, low mean income, the average American is NOT going to have any one to turn to for counsel or advice because agents such as me will either forgo doing business under this enviorment or stop dealing with these average folks because it will just be cost prohibitve. The average citizen will be left out to fend for themselves and the ONLY people who will be getting advice are the high middle income and above folks who can afford to pay the fees and charges which this legislation will lead to. I, personally, would be one of those agents. I could not afford to stay in business with fee only clients in this demographic will not and are not in a position to pay for upfront/ongoing fees for counsel and advice. Or, at best, those clients I deal with in the variable product area would no longer have me as an agent. I would have to terminate that relationship and hopefully there would be someone willing to pick them up.