From: Stratus52@aol.com
Sent: Thursday, April 29, 2004 8:31 PM
To: rule-comments@sec.gov
Subject: File No. S7-09-04

I've been securities licensed for 16 years, offering mutual funds to clients.
In building a financial practice, i.e. being in business for yourself, it is of
great benefit to know some income will be there at the beginning of the year.
Most salaried people have no idea that a commissioned sales person starts each
year with no income.

In the financial industry, clients want to work with people that will be in
business year after year.  Clients also want their financial representative to
take the time to talk with them even if there are no new investments i.e.
commissions to be made.  And this should be the case, rather than the
representative always needing to make the next sale just to put food on the
table.  This is why 12b-1 fees must be continued.  12b-1 fees bring balance to
the representatives life.  12b-1 fees bring balance to those clients needing
ongoing advise.  12b-1 fees bring balance to the economy.

If there are allowances within the 12b-1 rules that allow for inappropriate
practices, then change that mistake.  I applaud you efforts to stop
inappropriate practices in the mutual fund industry, but do not stop the basic
12b-1 fees that bring stability to the client, the registered rep, the industry
and the economy.

Thank you for your consideration of my opinion. 

John Jay John  
Faith Financial Planners, Inc.
4 Newport Dr. - Suite E
Forest Hill, MD   21050
410-420-8420      
stratus52@aol.com
Registered Representative
Securities offered through Empire Financial Group, Inc.
Member NASD/SIPC/MSRB, 1-800-569-3337