Subject: File No. S7-25-99
From: Christopher D Rich, CFP
Affiliation: Managing Member, RMR Financial Advisors LLC

August 30, 2004

Please register my support for the withdrawal of the Merrill Lynch rule and for my support of the Financial Planning Associations FPA proposed changes. I strongly disagree with the SECs position of allowing certain financial representatives who provide investment management for a fee exemption from registration under the Securities Act of 1940. Given todays high level of public need for clearly defined financial oversight, I believe having two different standards is confusing to the public and does a disservice to the end client who is expecting a fiduciary type level of financial advice with respect to fee-based investment management accounts.