Subject: File No. S7-25-99
From: Jeffrey M. Holler
Affiliation: CFP / FPA

January 15, 2005

I urge you to completely withdraw the proposed rule that will provide brokerage firms with a way to be exempt from the Investment Advisors Act of 1940. The revised rule you are considering is an arrant disservice to consumers, and continues to create an unlevel playing field for committed financial planning professionals.