Subject: File No.
From: Greg A Sanchez
Affiliation: National Association of Insurance Financial Advisors

November 2, 2010

I support the proposed reform of SEC Rule 12b-1 in changing terms from 12b-1 fees to "marketing and service fees". This is a more consumer friendly term. However, I strongly disagree with the SEC that would allow dealer/brokers to set their own sales charges and commission amounts.

Retail prices would affect the middle and lower market investors. This "competition pricing" would deny the needed advice and service for middle market investors.

This would affect the market I target. Only upper-income investors who can afford assets-under-management arrangements or higher cost/higher service classes of shares will continue to receive personalized investment advice.

Please reconsider the latter part of this rule. Isn't it the consumer's welfare we are looking out for?