Subject: New SEC rule 12b-2 s7-15-10

October 27, 2010

To whom it may concern,
I have been a licensed insurance professional for over 18 years and a registered representative for over 10 years. I am in support of the new rule as it relates to continuation of the 25 basis points fee that is used to ensure that investors receive ongoing service and guidance.
I am not in favor of creating a new share class for mutual funds permitting broker-dealers to set their own sales charge and commission amount. There is already a trend away from serving the smaller investor through any kind of personal relationship due to the low compensation associated with providing ongoing service of any kind. The vast majority of individual "middle class" investors do not have accounts exceeding $250,000 and often are well below that point. The majority of my own clients would fall under that level. It is no secret that people left to their own devices will make damaging mistakes as it relates to investments. Creating a new scenario that is even more likely to put clients in a position of "1-800 who are you" is not in the best interest of the general public. Please reconsider this provision as it is obvious that the unintended consequence of a more poorly served consumer is not desirable or beneficial to anyone in the overall equation.

Michael A. Callahan, CLU, ChFC
Financial Representative