Subject: File Number S7-15-10

October 27, 2010

I would like the SEC to consider the little guys… as an advisor that is getting better at what he does I'm constantly looking for higher net worth clients. If you allow broker dealers to compete on fees while cutting out the advisor, why would they bother serving the little guys?
Unfortunately, this proposal may cause them to send the little guys to shop on their own. After all, we are running a business.

I'm all for competition, but where is the protection?

Thanks for your consideration.

Yours truly,

Avshalom Gad LUTCF, LL.B
Financial Services Professional
Eagle Strategies LLC, a Registered Investment Adviser
Registered Representative offering securities through NYLIFE Securities LLC
(Member NASD/SIPC)
New York Life Insurance Company Agent