Subject: File No. S7-25-99
From: Elyse D. Foster, CFP
Affiliation: President, Harbor Financial Advisory, Inc

September 7, 2004

I urge the SEC to withdraw its rule exempting broker-dealers from the Investment Advisors Act of 1940 when offering fee-based brokerage programs. Having a different standard for two groups offering the same service is confusing and does not serve the consumer.