Subject: File No. S7-25-99
From: John G Bowen, CPA, CFP, NAPFA
Affiliation: NAPFA Member, President Elect Central VA FPA

September 21, 2004

Please rescind this rule. To allow brokers to masquerade as trusted financial advisors without disclosing their conflicts of interest is obscene. If Merrill wants to be an advisor then let Merrill register as an advisor.