Subject: File No. S7-25-99
From: Lonnie D McLane, CSA
Affiliation: Certified Senior Advisor, Registered Finanical Consultant

August 24, 2004

Please WITHDRAW, not amend, the rule proposal exempting broker-dealers from the Investment Advisers Act of 1940 when offering fee-based brokerage programs. I feel this would be setting a double set of standards and would be unfair and unjust.

Your efforts and communications could be more effective in other areas of regulation in this industry.

Thank you for considering my opinion.

Lonnie McLane