Subject: File No.
From: James H Sedam, Jr
Affiliation: Wealth Management Advisor

October 27, 2010

Having been in the investment business for many years, I believe that allowing broker/dealers to set commission levels is asking for problems.
What fee would be appropriate for an investor just starting out, with small amounts to invest or who invest on a monthly basis? Also, billing a fee will create additional expenses to the advisor. Will we now be bill collectors?
The current system provides ongoing service for investors in the small to middle market.
The noble intent to "save investors money" will ultimately preclude small investors from the service they deserve.