Subject: File No. S7-25-99
From: John Rumbold, EA
Affiliation: Personal Financial Planner

August 24, 2004

I urge you to withdraw, not amend, the rule proposal. I believe the rule is anti-competitive by creating two standards of conduct for persons offering financial planning services: one for registered investment advisers and one under NASD suitability rules and anti-consumer, by permitting non-disclosure of conflicts of interest by registered representatives.