Subject: File No. S7-09-09
From: Kenneth M Moore, Jr.
Affiliation: CFP, AIF

June 22, 2009

I believe expanding the definition of advisors with Custody to include those who are able to deduce fees from client accounts is an unnecessary and onerous requirement for smaller RIAs.

Clearly the potential for fraud is much higher for RIAs who hold custody over client assets. Advisors deducting fees already have checks and balances in place, especially through their already established fee schedules.

Moreover, clients understand clearly that we have authority to deduct fees from their accounts and sign a Limited Power of Attorney with the custodian to affect this.

Our clients receive monthly statements and we prepare an invoice detailing fees.

If I may be alllowed to presume to offer unsolicited advice, I feel the SEC should first look at the revenue sharing agreements brokerage firms have with their investment "partners" before placing onerous regulations on small businesses who are fiduciaries to the clients. These are disclosed minimally and are not understood by clients.

I respectfully requst you consider my objections to this proposed rule.