Subject: File No. S7-06-04
From: David J. Romagosa, CFP, MSFS

March 2, 2004

I am against the proposed SEC Rules 15c2-2 and 15c2-3. 12b-1 fees allow financial advisors to be compensated for prioviding customers with service and advice. Without this compensation, customers would lose access to the service and advice needed to make appropriate investment decisions. These fees can be transferred, allowing the consumer to change advisors, with the compensation being paid to the new advisor.