August 2, 2007
MS. MORRIS
I HAVE BEEN A PROFESSIONAL INSURANCE AND MUTUAL FUND SALEPERSON FOR 16 YEARS. THE EXTRA $12,000 A YEAR I RECIEVE IN 12B-1 IS HARD EARNED MONEY-THAT DOES NOT PAY THE TIME I SPEND IN CLIENT REVEIW AND FUND SERVICE I PROVIDE TO MY CLIENTS-BUT IT HELPS. IF THIS IS TAKEN AWAY SERVICE WILL SUFFER ACROSS THE BOARD-GIVEN THE OPPORTUNITY TO VISIT WITH A NEW PROSPECT AND THE COMMISSION FROM A NEW SALE VERSES SERVICE ON AN EXISITING CLIENT WHO PERHAPS WILL NEVER INVEST ANOTHER DIME-AND WITH THE 12B-1 TAKEN AWAY-THERE IS ONLY COST INVOLVED WITH VISITING THE EXISITING CLIENT. NOT THAT WOULD EFFECT MY PERSONAL DECISION-IT WILL EFFECT SOME-AN AGENT SHOULD NOT HAVE TO CHOOSE BETWEEN DOING WHAT IS RIGHT AND FEEDING HIS FAMILY. MAYBE THESE FEES ADD UP TO GIANT MONEY FOR SOME BIG TIME GUYS-BUT THE MAJORITY OF US ARE OUT HERE TRYING TO HELP PEOPLE AND HELP OUR FAMILY BY MAKING A LIVING-TAKE 12.000 USD OUT OF YOUR INCOME AND SEE HOW IT FEELS. I AM 43 WHITE MALE- MARRIED WITH 3 KIDS. (I FEEL I AM CONSTANTLY DESCRIMINATED AGAINST BECAUSE OF MY RACE AND GENDER).
ONE OTHER POINT IF YOU WANT TO MAKE SOME CHANGES-OUTLAW THE ANNUITIES. THESE ARE BAD PRODUCTS THAT MAKE INSURANCE AGENTS GIANT COMMISSIONS-WHY NOT HAVE THEM MANDANTORY TO DISCLOSE COMMISSION AND SURRENDER FEE SCHEDULE ON ALL PAPER WORK AND EVEN A SEPERATE FORM-NOW THAT WOULD BE GOOD REFORM
DRAKE Q. DAWSON
NIS FINANCIAL SERVICES