Subject: File No. S7-25-99
From: Joseph F Fessler, CFP r

January 18, 2005

I question the motivation of those in the planning industry who wish to rewrite the rule. I believe they are looking out for themselves by trying to burden their competition with unnecessary regulation. Is it coincidental that what they claim will help the individual investor will also place burdensome regulations on not themselves, but their competitors? I support the rule as it is currently written in that it allows me to continue to offer my clients popular fee-based accounts. I feel this fee based arrangement helps to remove the percieved conflict of interest inherent in traditional commission based accounts, and more times than not works to keep my clients cost of doing business down. I think it would be a duplication of efforts and burdensome to hold me to those reporting requirements the FPA association would like to impose on me. Joseph Fessler