Subject: File No. S7-25-99
From: John F Hochschwender, CFP
Affiliation: Financial Planning Association

August 24, 2004

Im writing to urge the SEC to withdraw the proposed rule exempting brokers from the Investment Advisors Act of 1940, when offering fee-based brokerage services. It makes little sense to have two different standards for people offering financial planning services. Secondly, in this day and age public trust is paramount to the operation of our financial system. Higher standards of disclosure should be in place, whenever possible, and this rule appears to have the potential to do the opposite.