From: Karl Smith [SmithK@1stsource.com] Sent: Tuesday, June 25, 2002 9:17 AM To: rule-comments@sec.gov Subject: File No. S7-25-99 I wish to express my support for the resolution recently approved by the FPA Board of Directors indicating opposition to the SEC proposed rule exempting certain broker-dealer activity from the Investment Advisers Act of 1940. I do not believe that broker-dealers should be allowed to offer comprehensive financial planning advice without being subject to registration under the Act. Without uniform standards of conduct for the financial planning profession, the consumer will not be served properly. I urge you to withdraw the Proposed Rule. Thank you, Karl Smith, Certified Financial Planner