Subject: S7-15-10

October 27, 2010

To whom it may concern,
I would like to voice my mixed concern over the indicated proposal. While I support the terminology changes, I am not in favor of the broker dealers ability to set their own fees. The competition within any business that is based solely on pricing always ends up with a reduction of services at some point. This reduction is most often felt by the one group that can afford the diminished services the least. In the financial world, this will be the new investor or the middle income investor trying to get ahead.
Please give very serious consideration to all involved before allowing this to move forward. Thank you.
Andrew R. Gilbert
Financial Representative

Semler Financial Group, LLC.