September 17, 2004
AS AN INVESTOR AND FINANCIAL ADVISOR, I BELIEVE IT IS CRITICALLY IMPORTANT THAT ANYONE GIVING FINANCIAL ADVICE FOR COMPENSATION BE REQUIRED TO FULLY DISCLOSE THEIR SOURCES OF COMPENSATION AND ANY POTENTIAL CONFLICTS OF INTEREST. CONSUMERS NEED TO KNOW THIS TO ENABLE THEM TO DECIDE WHO IS BEST QUALIFIED TO PROVIDE FINANCIAL ADVICE. STOCKBROKERS, WHO MARKET THEMSELVES AS FINANCIAL PLANNERS, SHOULD NOT BE EXEMPT FROM THESE DISCLOSURES AND FROM DISCLOSING ANY DISCIPLINARY ISSUES THEYVE FACED WITH REGULATORS. FINANCIAL ADVICE THEY GIVE IS NOT INCIDENTAL TO SELLING STOCKS. ALL FINANCIAL PLANNERS SHOULD HAVE THE SAME REQUIREMENTS AND OVERSIGHT.