Subject: File No. S7-15-10
From: Stan Smith
Affiliation: Financial Advisor

July 28, 2010

Financial Advisors have built there business on the C shares over a number of years. Rather than take hugh up front sales charges (espcially for small investors) we have taken little to nothing, knowing we would get 1% for as long as we helped and advised these clients. You will be putting a hugh number of advisors out of business and into the unemployment line. The clients are advised of the different class of shares and they still choose the C share because they offer liquidity and many cases are not costing the client any more in expense for at least 6-8 years. A lot of clients sell or do other things before this time comes around. Therefore the C shares is a less expensive alternative. If you would put in a statement that the fund charges 1% to compensate the advisors, the clients would be fine with that. In fact, our clients ask all the time how we get paid and we inform them that the fund pays us 1% from the fund and deducted from there return. What you are doing is drastic and will do real harm to us who have held our clients hands over the last few years, which have been tramatic to say the least. Lastly, our firm has a program where they can use mutual funds in a managed mutual funds program and we can charge up to 2% annually. This will be more costly to the client. Please rethink this policy and the damage you are going to do, to both the hard working advisors and the increased costs and lack of service clients will get because of this policy.