Subject: File No. S7-15-10
From: S. Smith
Affiliation: FA

August 5, 2010

I think changing the 12 b 1 fees on C shares is a hugh mistake. Without this fee small investors will not get the financial advise they need because nobody is going to help them. The ones the advisors decide to keep will end up paying more. What you are doing is going to cost the customers more and the advisors will get a raise because they are going to convert them to mutual fund wrap accounts and charge the customers up to 2% annually plus the .0025 12 b 1 fee. The C shares only cost the customer .0075 more than the A shares. Can't figure out why you would do this, when all you need to do is disclose the fee in different terms. If not the customers will pay more and the advisors will make more. I think the SEC needs to take a better look at this and see who you are really helping and who you are really hurting. I already know and the answer is the advisor is helped and the customer is damaged.