Subject: File No. S7-25-99
From: J. Jerri Hewett, CFP
Affiliation: LPL Financial Services, Inc.

August 23, 2004

Dear Sirs:
The governmental agency charged with protecting the public from securities fraud as well as oversight of the channels that distribute securities would be setting the wrong precedence to suggest that the rules are not the same for ALL participants in this arena. With the past few years of scandal and tarnishment of our industry reputation the bar should be set higher for everyone, not lower for some. Thank you.