From: c. angell [mailto:email@example.com]
Those persons who do not need financial counseling from a stockbroker are already free to use discount brokers such as Chas. Schwaub. But the majority of persons are not able to properly research individual stocks nor mutual funds and they need the services of investment counselors/stock broker. One would not expect a broker to provide his or her expertise for free! Few highly paid professionals such as physicians, attorneys, or, for that matter, highly paid people in sports are able to manage their investments themselves. Most people have difficulty locating a good broker to look after their interests. The SEC should be spending its energies on making sure that the bookkeeping for corporations is completely transparent and that all audits are honest and legitimate. This ruling literally puts brokers out of work, and puts far too many of us at the mercy of an already corrupt system.