Subject: File No. SR-NASD-2007-023
From: John E Schooler, CFP, CHfC, CFS
Affiliation: President of WFP Securities

April 13, 2007

I wanted to express my opposition to the proposed merger.

It removes any competitiveness between the two SRO's and eliminates any choice that any firms would have. But more importantly for us as a small firm, we are generally happy with the way things are now. It seems disruptive to most of the firms while trying to help just a few firms. The firms that it would be most disruptive to are the ones that can least afford it, the smaller firms. So it seems that we are doing something to placate the larger firms at the detriment of small firms. So, I'd like to express my negative comment, thank you.