Subject: File No. 4-606
From: Gary Tsoumas
Affiliation: Vice President Strategic Wealth Management Group LLC

August 7, 2010

I have been in the financial services industry for over 22 years. Our business has changed dramatically beginning with product offerings, compliance and regulations, ability to call and market etc...As an advisor working directly with consumers, we have many forms, disclosures, compliance reviews in place to protect consumers. Most people in our business are honest and ethical and I accept many of these well intentioned requirements are put in place because somebody was taken advantage of.

I like most began my career as a registered rep. Typically we sell insurance products and mutual funds as a registered rep. There are many safeguards in place to ensure we do the right things and most do. These sales are note sophisticated. We don't act as a fiduciary and tagging registered reps with a full time fiduciary responsiblity will only increase the cost of business through lawsuits and litigation, compliance fees, lost time due to excessive record keeping etc... Many will leave the business. This ulitmately will lead to less life insurance being sold and more people dependent upon welfare and people ulitmately underprepared for retirement and death of a loved one. If you believe in socialism this would be ok, I don't think people being more dependent upon welfare is a good thing. Furthermore, you will have clients willing to sue at the drop of the market because there will be an attorney willing to champion the cause even if it is for the wrong reasons.

I went on to further education and licensing to become a financial advisor. My job as an advisor is different and requires more from me and I accept that and that I am wearing a fiduciary hat when I am an advisor giving advice that is paid for.

These are 2 different jobs and roles. dont treat them the same.