Subject: File No. S7-25-99
From: Martel A. Bartlett

August 3, 2004

Ask the average investor if they believe their stock broker-dealer is the business of giving investment advise I am sure there would be a resounding yes. I have been investing in securities for 40 years am surprised to just learn brokers are not required to adhere to the higher fiduciary standard of acting in their client's best interest and do not have to comply with the Advisers Act.

In light of recent scandals and loss of confidence it is inconceivable to me that the SEC isn't aggressively pushing to have anybody who gives investment advise, no matter how incidental, be covered by the Advisers Act.


Martel A. Bartlett
895 Ferncroft Ct.
Roswell, GA 30075
(770) 641-7562