Subject: File No. S7-18-09
From: Wade Slome
Affiliation: President of Investment Advisor Firm

August 10, 2009

Wouldn't this ban on all third party marketers unfavorably benefit the large asset managers that have virtually unlimited resources to market their investment services nationally? I don't believe the goal of this proposal is to tie down the arms of smaller independent advisory firms, which are critical in offering competitive, unbiased investment management services. A more rational approach in my mind is to require additional disclosure to investors and public entities, to address any potential conflicts of interest.