Date:    04/13/2000  9:06 AM

RE: Release Nos. 34-42099 and IA-1845; File No. S7-25-99; Certain Broker 
Dealers Deemed Not To Be Investment Advisers
     
     
Dear Mr. Levitt,
     
As an independent financial advisory firm, I take every opportunity to 
educate the public about how the current regulatory framework is meant to 
protect them.  Most clients have the perception that their financial 
advisor always acts in their best interest, first and foremost.  
This perception is created and encouraged by individual advisors as well as 
by the large financial services companies.   Few individuals understand 
that the RIA regulations are the only ones which require advisors to act as 
a fiduciary for their clients.  If the SEC allows large financial services 
firms to avoid having to follow the RIA regulations, yet allow them to 
present themselves as objective, fee advisors, then the general public will 
be misled and confused.
     
The general public will be protected only if the SEC reserves for itself 
the authority to crack down on advisors and companies who present 
themselves as objective advisors and then do not fulfill their fiduciary 
role.
     
Respectfully submitted,
Katharine McGee, CFP