Subject: File No.
From: Mark E Woody
Affiliation: Financial Advisor, Ameriprise Financial Advisors Inc

October 27, 2010

I have been a licensed registered representative for over 20 years. I support the proposed rule 12b-2 as I believe it will provide much needed clarity about what investors are paying for on an ongoing basis. However, I strongly object to the SEC permitting broker dealers to set their own sales charges on mutual funds. It will lead to competition based on price alone and will leave many middle market investors in a position of receiving less ongoing advice and service whereas upper-income investors who can afford assets-under-management arrangements or higher cost/higher service share classes will continue to receive individualized service and advice. I realize the SEC is trying to help middle market investors but this proposed rule will actually force these very investors to self-direct as professional advisors will not be able to afford to guide and advise them. Please do not leave the smaller investor to fend for themselves.