Subject: File No. S7-15-10
From: Ryan Propst

October 13, 2010

As a middle class citizen trying to save for my retirement, the lower the cost I have to pay the better. I for one would do away with 12b-1 fees altogether. I personally would prefer to pay for financial advice up front or as a portion of my assets so that I know the costs and can compare them when searching for financial advice, instead of having hidden fees tacked on to multiple mutual funds that makes it very difficult to understand what I am actually paying. To know that I am paying x percent of my assets to an advisor, or a flat fee to an independent financial investment advisory company is much easier for the average person to understand than to have to figure out how much each fund's fees are, especially when most people hold many more that one single fund.