Subject: File No.
From: Brian Urie, CFP
Affiliation: AXA Advisors, LLC

October 27, 2010

Advisors already have the ability to select the price structure of mutual funds they offer, comensurate with their level of service. Consumers already have the ability to select among (1) no load/no help, (2) load with small service fee, and (3) no load with advisory fee and more active management. While I agree with the change of the name from 12b1 to service fee, I disagree with allowing broker dealers setting their own 12b1 fee. Varations to the current system already exists between no load/no help on one side and advisory fees through an RIA on the other.