Subject: File No. S7-25-99
From: Barbara Bardie Wolfe L Wolfe, CFP
Affiliation: Financial Planning Association

September 8, 2004

I recommend that you reconsider your proposal of exempting wirehouses from RIA Registration. This will continue to increase the confusion in the marketplace to consumers. Advisors/brokers are holding themselves out has financial planners and are giving advise. Much of their advertisement reflects that they can handle all the advice for you.