Subject: File No. S7-15-10
From: Brett Bayer
Affiliation: Financial Consultant

August 19, 2010

Driving every registered representative to fee-only compensation will not necessarily result in better, unbiased advice for the consumer. It will drive many advisor to focus only on High net worth clients who can afford our services and leave the low-middle class investor with little or no guidance.

Brett Bayer
Financial Consultant