Subject: File No.
From: Allen J Zutz
Affiliation: Thrivent Financial for Lutherans, Financial Associate

October 27, 2010

I have been a licensed insurance professional and registered representative for 3 years. I am a NAIFA member and strongly support our code of ethics. I want what is best for my clients and I like parts of the new rule that you are proposing.

I support new SEC rule 12b-2, which would continue the 25 basis points fee that is used to ensure investors receive ongoing service and advice, and the SECs proposed use of the terms marketing and service fees and ongoing sales charge in place of 12b-1 fees to improve transparency in disclosure documents. This will be a good transparency item for the clients and will be easier for me to explain how I am compensated to clients.

I do not support allowing broker dealers to set their own level of compensation. If people want to purchase no load funds they can purchase them on the internet. This will lead to competition that will be very unhealthy for an already tarnished industry. It will lead to more unsuitable rollovers from company to company in an effort for registered representatives to get paid. When commissions get cut agents will ultimately become more unethical than some agents already are.