Subject: File No. S7-25-99
From: John S. Hayman, CFP
Affiliation: CEO, Capital Advantage, Inc

August 23, 2004

Elimination of the FIDUCIARY standards for Broker/Dealers is NOT in the consumers best interest

I believe that providing the BEST protection for the financial markets and the consumer is the right thing to do.

By dilluting and weakening some of the provisions of who MUST abide by the Investment Advisors Act WILL ONLY HURT THE INVESTING PUBLIC.