Subject: File No. S7-25-99
From: Leonard M Coris
Affiliation: Investment Advisor Personal Financial Planner since 1968

August 23, 2004

As a long time personal financial planner and investment advisor I would urge you to withdraw, not amend, the rule proposal. This rule creats two different standards of conduct for persons offering financial planning services: a higher fiduciary standard for registered investment advisers and a lower one under NASD suitability rules while also effectively exempting brokers from the obligation to disclose any conflicts of interest related to their financial planning services.