Subject: File No. S7-25-99
From: Bruce G Coldsmith
Affiliation: Certified Financial Planner, MBA

August 23, 2004

Dear Sirs/Madams

Please WITHDRAW your proposed changes to the Investment Advisors Act of 1940. Not only is the change not in investors best interests, it is harmful to the investor and the burgeoning number of self-regulatory groups such as the FPA, who set standards and bring the level of advice up, not down.

Please stand strong now, to prevent a train wreck later.


Bruce Coldsmith