I am strongly in favor of keeping 12b-1 fees. As a Certified Financial Planner, I am compensated in part for the ongoing advice and service given to my clients through these fees. The fees are nominal and are a small amount in comparison to the service and advice many clients need. I am in favor of eliminating illegal activities in mutual fund management, but I donít believe changing 12b-1 fees is the way to accomplish anything positive for the industry.

Thank you for your time.

Michael P. Austin, CFP