Subject: File No. S7-25-99
From: John H. Russell
Affiliation: CFP

August 23, 2004


It is most distressing to see the daily barrage of advertisements from the various brokerages as to their intent to provide totally focused Financial Planning, One Client at Time, as the clients personal Financial Planner.
Yet, I know they in turn give sworn testimony that all the financial advice given is only incidental to the sale of products.
You would never even guess that to be the case watching the millions upon millions of dollars of their advertisements.
Please close this very deceptive door that has been opened in the last few years.
The revocation of the proposed rule would also level the playing field between the brokerage houses and the Registered Investment Advisors to the benefit of the consumer. The consumer that the SEC is supposed to protect would be able to know what charges, if any, they are paying for and to what extent the advice they are receiving is unbiased.
Thanks for your consideration.
John H. Russell, CFP