Subject: File No. S7-25-99
From: Bill Ramsay, CFP
Affiliation: President, Financial Symmetry Inc

August 23, 2004

There is nothing wrong with salespeople. However there is something very wrong with salespeople presenting themselves as objective client advocates. If the brokerage community wants to be regulated as a sales channel, then let them announce it proudly to their clients instead of hiding their real interests behind misleading representations. The SEC should withdraw this proposed rule instead of giving their blessing to such harmful doublespeak.