Subject: File No. S7-25-99
From: Judy A Stewart
Affiliation: Certified Financial Planner

September 8, 2004

I have been a practicing Certified Financial Planner for the past six years and have rescued several portfolios of clients that were sold unneeded and expensive products from wirehouse brokers in which the broker received a large commission. It is unbelievable to me that you want to exempt these people from the same fiduciary standards as the rest of us. How can you be so blind? Where is the intelligence factor in the SEC? I beg you to withdraw this proposed hihly damaging rule.