Subject: File No. S7-25-99
From: Michael S Knight
Affiliation: Certified Financial Planning Practitioner, Knight Investment Planning

August 25, 2004

I am writing to you to urge you to withdraw the above proposed rule. Broker-Dealers who provide investment advice should not be permitted to avoid the blanket fiduciary protections of the Investment Advisory Act of 1940. I fully support the postion of the Financial Planning Association.
Thank You