From: Lynn M. Vance [lynn@c4fm1.com]
Sent: Friday, May 07, 2004 3:41 PM
To: rule-comments@sec.gov
Subject: 12-B-1 fees (s7-09-04)

           I feel that by prohibiting the mutual funds from paying the 
registered representative the 12-B-1 fee, the smaller client will be hurt, 
because the only way I can service the smaller account is by receiving this 
small compensation on their behalf from the mutual fund.  I will then have to 
quadruple their fee, by placing them in a 1.00% annual fee account, and this is 
unnecessary for a smaller account, because they typically don't need that much 
to be done in an account over a year's time frame.   It will encourage others 
who cannot charge a fee to churn account.  We need more stability in the 
perception in the role of the financial advisor, not less, which this law change 
would engender. 

            Lynn M.Vance
            Registry of CFP Practitioners
            phone #248-649-1144
            fax # 248-649-5524