Subject: File No.
From: Sanford G Seide, CLU

October 27, 2010

I have been in the business for over 30 years and would like to commment of the proposed trail fee change. If broker dealers regulate the trail fees they will be reduced and there in turn will be a lack of interest in servicing these smaller clients. These small clients will wind up as an orphan of the industry which is not what should happen.