August 23, 2004
Re: SEC Broker-Dealer Rule Exemption
I urge the SEC to WITHDRAW the proposed rule that exempts brokers from having to disclose conflicts of interest in connection with offering financial planning. The proposed rule has a lower fiduciary standard than for registered investment advisors.
If a person is an investment advisor they should be covered by the same rules as all investment advisors. A level playing field protects the profession and consumers.