From: BONNERSF@cs.com
Sent: Thursday, April 29, 2004 3:31 PM
To: rule-comments@sec.gov
Subject: File No. S7-09-04

I am a licensed financial advisor.  I feel it is important that investment
professionals receive 12b1 fees.  It is our way of being compensated for
providing continued service to clients.  On a $10,000 investment, I get paid
$12.50 each year to be ready to serve the client.  I mail things to the client
and give them advise all year.  Granted, the industry is moving towards "fees
per hour", but the public is not ready for that.  If they are balking at the
12b1 fees now, how would they feel about paying per hour.  Please reject any
proposal to eliminate or restrict the payment of 12b1 fees.  Thanks.