Subject: File No. S7-25-99
From: James T Brass
Affiliation: Financial Planning Association

August 26, 2004

My organization, the FPA is trying to have the brokerage industry follow the the same rules as the Independent Financial Planners. They could not be more misguided. They are intirely different businesses. It is a grab for control and power whitch they have used my dues to finance for 25 years. There are many arguments, too many to list here but I will ilistrate with one. Compliance: Independent financial planeres have a fraction of the supervision,oversight, and compliance that watches over the brokerage industry. Let the public vote with their choice of who they chose to do business with. The lawyers will keep everyone honest.