Subject: File No. S7-25-99
From: John Knolhoff

September 10, 2004

To Whom It May Concern,

As a recent college graduate looking to become a financial advisor, I am strongly opposed to the idea of brokers marketing themselves as financial planners. When I started school I wanted to be a broker, but blindly pitching stock to people who may or may not need it/benefit from it quickly turned me off from it. The relationship that is developed between an investor and their financial advisor is based on idea that the advisor's sole interest is doing what is best for his/her client. This trust is strengthened because the advisor discloses any financial incentives they receive.

I hope that you consider what is best for the investors and not what is most profitable for Wall Street's telemarketers.


John Knolhoff