Subject: File No. S7-25-99
From: David Halfaker, CFP
Affiliation: Sole Practioner

August 26, 2004

It is overwhelmingly in the publics best interest to require identical disclosure for everyone in the financial services arena, regardless of personal or corporate affiliation. The public often incorrectly assumes that because they are working with a big company, their best interests are at heart and there is no conflict of interest.

The public deserves full disclosure of all advisors and advisor compensation relationships. To require less disclosure based on the broker-dealer entity or otherwise is a terrible idea...