Subject: File No.
From: Jerry A Schutte
Affiliation: CHFC

October 27, 2010

I have been an insurance professional and registered representative for over 40 years.I support the new 12b-2 rule, but strongly object to permitting mutual funds to issue a new class of shares at net asset value.
Mutual fund families will get in completion based on price, ultimately removing any payment for the service clients deserve.

I currently serve a large number of clients who I no longer could afford to provide service for and would be forced to continue only with my advisory practice. Under this new proposed system, the only investors who can afford investment advice.
Those hurt the most will be the small and middle investors. I believe these are the same people we are trying to protect.

The middle and lower market investors will be hurt the most, since they will be deprived of the guidance and service they need and deserve.

Jerry Schutte