Subject: File No. S7-25-99
From: Mark Trexler

July 24, 2004

Dear People,

I strongly oppose this rule for the following reasons.

Why would anyone in their right mind want to call a Stock Broker a Financial Advisor? Stock Brokers and Dealers are sales people that get their marching orders from their bosses to sell certain products to their customers. They do not have fiduciary responsibility to act in their clients best interest. Their responsibility is to make money. That is it. If you are going to label sales people as financial advisors then they should have to comply with Investment Advisers Act of 1940.

If you go to a car dealer and meet a sales person is he or she now going to be called an Automobile Advisor and have your interest in their heart? Or are they going to try and sell you the automobile that will bring them the best commission. I am sure the latter would be the results. And that is exactly what a Broker-Dealer does. They sell stock instead of cars but their interest is the same as the car sales person, Make Money.

Aloha, Mark Trexler
67-346 Waialua Beach Rd
Waialua, HI 96791