Subject: File No. S7-25-99
From: David Wilder, CFP
Affiliation: NAPFA

August 26, 2004

I am writing to urge you to have the SEC WITHDRAW the rule proposing broker/dealers from being required to register as investor advisors. The rule is out of date and simply allows the general public to be snowed everyday with investment advice that is not in their best interest. I work with clients on a daily basis and see people whose dreams have been set back or squelched because of bad advice. Not that all brokers are bad, but people are under the impression that they are all good simply because they work for a huge company that can afford Super Bowl ads, etc.
By placing all advisors on a level playing field, the SEC will help to ensure the cream rises to the top