Subject: File No. S7-25-99
From: Matthew Agen

August 24, 2004

If a group or individual is going to be able to advertise themselves as advisors they better well be held to the same standards and regulations that licensed advisors are held to. If they are not, they are being given carte blanche to be unethical.

Please do not allow anyone who offers themselves as advisors to be exempt from the regulations governing advisors no matter how much they claim their advice is incidental.