From: James Budzyn
Sent: March 31, 2005
To: rule-comments@sec.gov
Subject: File No. S7-06-04


Jonathan G. Katz
Secretary
Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549-0609

As an independent financial advisor, I am concerned the SEC point of sale disclosure system, as proposed, would have the unintended consequence of substantially limiting the broad universe of mutual funds and variable annuities that I am now able to offer my clients. In addition, this proposal misleads investors into believing that the lowest cost product is the most suitable versus encouraging investors to weigh all factors of suitability.

I would urge the SEC to re-focus its efforts on incorporating important fee information into the prospectus and in turn, creating a more user-friendly prospectus that would better aid investors in their decision making process.

Respectfully,

James Budzyn, CLU, ChFC
Capital Point Financial Group
4350 DiPaolo Center Suite B
Glenview, IL 60025