Subject: File No. S7-25-99
From: William Bartel

September 10, 2004

Please help protect individual investors like myself.

Do not pass rule S7-25-99 and allow securities brokers pretend to be financial advisors/planners without disclosing conflicts of interest. Hidden conflicts have caused far to many problems in our system and reduced the confidence we have in companies & mutual funds. Please don't let these hidden conflicts continue to prevail in the advisor community too.


William Bartel... an individual investor