Subject: File No. 4-606
From: Zachary A Nielson
Affiliation: NAIFA Member

August 6, 2010

Moving to a Fiduciary Standard will only drive the cost of doing business up for EVERYONE involved. Most importantly the AMERICAN people who need it. My costs will go up and the majority of people in AMERICA will not get the help they need to be able to manage their investments and plan for retirement. They will be forced to think that Social Security is going to take care of them when it won't. The people need help, good honest help and they should be able to RETAIN their FREEDOM OF CHOICE by CHOOSING if they want to pay for Fee - Only advice or find a dependable, honest, hardworking representative that doesn't. That's what it comes down to. Changing the law to a Fiduciary Standard ELIMINATES ALL OF OUR FREEDOM and drives up the cost unnecessarily. We spend about 6 hours per client making sure that the products they are purchasing are Suitable already.