From: Mikeassoc@aol.com
Sent: Monday, May 03, 2004 3:29 PM
To: rule-comments@sec.gov
Subject: 12b-1 fees (s7-09-04)

I believe that you get what you pay for and with the elimination of the 12b-1 
fees the client will get little or no service / advice. On the other hand I do 
believe that the practice of "Directed Brokerage" should either be ended, or 
there should be mandatory reporting of this practice to the client when making a 
recommendation. 

Michael H. Freedman
Michael Freedman Assoc.
33 Craig St.
Jericho, NY 11753
Tel. 516-942-8536
Fax. 516-942-8538
e-mail: mikeassoc@aol.com