Subject: File No. S7-25-99
From: Glenn A Bishop
Affiliation: President, GA Bishop and Associates, LLC

February 4, 2005

I firmly believe that the public has a right to know that those providing financial advice are all held to the same standard. If broker-dealers want to hold themselves out as advisers, giving advice rather than simply executing buy/sell transactions, then they should have to register under the Advisers Act. Anything less leaves a lack of disclosure that is confusing to the public.