Subject: File No. S7-25-99
From: George Papadopoulos, CPA/PFS, CFP

August 29, 2004

Please Withdraw this Rule immediately. It is the only way investors will benefit through consistent and comprehensive disclosure of conflicts and the related Fiduciary protections. The Rule as it stands now harms consumers by creating two different standards of conduct for persons offering financial planning services: a higher fiduciary standard for registered investment advisers and a lower one under NASD suitability rules. The rule also exempts, in effect, brokers from being required to disclose conflicts of interest in connection with the offer of financial planning services.

Thank you for doing the right thing.


George Papadopoulos, CPA/PFS, CFP
NAPFA Registered Financial Advisor