From: Eric Smith [ucsdgrad@mybluelight.com]
Sent: Monday, June 24, 2002 8:00 PM
To: rule-comments@sec.gov
Subject: File No. S7-25-99

I would like to see the proposed SEC rule "Certain Broker Dealers 
Deemed Not To Be Investment Advisors" withdrawn.

The public needs the protection that registering as an investment 
advisor provides, and as an independent financial planner, I don't
want the wirehouse brokers to be able to claim equal professional 
status without going through equal training and registration 
requirements. 
 
We have all seen how some brokerages run, so let's not give them 
any more room for business as usual.


Sincerely,

Eric S. Smith, JD, CFP®
Financial Planner, David M. Smith & Associates
Registered Rep., Securities America, Member NASD/SIPC
CA Ins: #0C84302