Subject: File No. S7-25-99
From: Debra L Morrison, CFP
Affiliation: Wealth Manager, RegentAtlantic Capital, LLC

September 8, 2004

Please withdraw the rule exempting broker-dealers from the Investment Advisors Act of 1940
The public deserves to know about conflicts of interest and methods of compensation rather than being mislead by commision brokers hiding behind fee-based arrangements.
Let the truth be disclosed...for all financial advisors.