Subject: File No. S7-15-10
From: Richard Fairbanks
Affiliation: Wealth Strategies Unlimited, Inc.

October 14, 2010

I wish to convey to you my disapproval of the legislation that is being proposed that would change the arrangements for 12b-1 fees for mutual funds. As things now stand, an investor can employ a fee based planner and pay on average 1% as a fee for the money to be managed, or invest in mutual funds that extract approximately the same level of fees as commissions. It seems highly descriminatory to change the arrangement for mutual funds via 12b-1 fees and not impose the same on fee based planners. The market has done a fine job of keeping these fees in line. The clients suffer no disadvantage versus the alternative with fee based planners. I heartily encourage you to vote against any legislation that would impose descriminatory measures on commission-based mutual fund investments versus fee based investments. The system works. It`s not broken. There is no need for a fix.

Richard Fairbanks
Wealth Strategies Unlimited, Inc.