From: Curt Weil [curtw@weilcapital.com] Sent: Tuesday, June 25, 2002 2:54 PM To: 'rule-comments@sec.gov' Subject: Subject: Proposed Rule- Certain Broker-Dealers Not to be Investment Advisors As a fee-only advisor and a member of NAPFA and FPA, I oppose the SEC rule, "Certain Broker-dealers Deemed Not to be Investment Advisers." Reading and hearing major brokerage firm's advertisements holding themselves out as comprehensive financial planners with inconspicuous explanations that they are offering "brokerage accounts," (which is meaningless to the average consumer!) leaves me angry and discouraged. Consumers expect, and have the right to expect, that the brokers are being held to the same fiduciary standards as other planners who are regulated by the SEC rules. All persons giving financial advice regardless of their status, should be subject to the Investment Advisers Act of 1940. I do not understand how you could promulgate a rule discouraging complete disclosure, particularly one that violates your chartered purpose of investor protection. I urge you, in he best interests of the public, to withdraw the proposed rule. Curt Weil, CFP Principal, Weil Capital Management, LLC Palo Alto, CA