July 10, 2007
To SEC Board-
I understand that there are some ongoing discussions regarding the future of 12b-1 fees.
I have been in the insurance and investment field for over 16 years. My current position is in a management role. I spend a significant percent of my time recruiting and developing representatives. Each year more strains are put on our representatives. This is not a bad thing. It raises the bar and keeps improving the work we do, but there is a cost to do this. Our firms and reps need to stay viable and compensated for their good work. Their role with their clients is crucial. Nationally, our savings rate is pathetic and would be even worse without the professionals servicing their clients.
I sold for 14 years and my clients knew what their costs were on a mutual fund. Clients are willing to pay for service. The typical 12b-1 fee is justified and probably should even be higher.
Count me in as a supporter of 12b-1 fees.
Scott Christensen
NORTHWESTERN MUTUAL FINANCIAL NETWORK
Inspiring People, Impacting Lives, Achieving Goals
Scott G. Christensen
Managing Partner