Subject: File No. S7-15-10
From: Douglas J Lagerstrom
Affiliation: Registered Representative

October 27, 2010

I'm a registered Representative with a small independent broker/dealer. I have been using C share mutual funds as a part of my practice to eliminate the "sell to get a commission" incentive in our business. I've found that by being paid on the dollars I manage I can more effectively service my clients investments.
If this fee is reduced or eliminated I will need to stop servicing the smaller accounts that I have. As a result of this proposed legislation, I believe, the smaller investor (less than $250K to invest) will not have access to professional investment advice.
Because these people are the ones who desperately need professional advice, it would truly be a shame to limit their access to it.