Subject: File No. 4-606
From: Steve Schildt
Affiliation: Financial Representative

August 6, 2010

God is watching us all. If people cheat clients, clients will find out and that will ruin business for the representative. It's in everyone's best interest to do what's best for the client.
Charging a fee for service only increases costs for clients, and does not eliminate bias.

I'm in my seventh year in business as an insurance and investment representative licensed in two states. The states require more than twenty four hours of continuous eduction every two years. I get audited from my compliance officer twice a year to make sure my business practices are in check.

Investments require so much paper work/disclosure as it is. Adding more is only redundant, time consuming and only adds costs to representatives which in turn flows down to clients.

I object whole hardheartedly to this new proposed misguided fiduciary standard on already over scrutinized representatives