Subject: File No. S7-25-99
From: Charles Brewster, CFPtm, MBA
Affiliation: President, Brewster Financial Planning

August 23, 2004

Re: SEC Broker-Dealer Rule Exemption

I urge the SEC to WITHDRAW the proposed rule that exempts brokers from having to disclose conflicts of interest in connection with offering financial planning. The proposed rule has a lower fiduciary standard than for registered investment advisors.

If a person is an investment advisor they should be covered by the same rules as all investment advisors. A level playing field protects the profession and consumers.