From: Priscilla Florence [prisc2@attbi.com]
Sent: Monday, June 24, 2002 5:44 PM
To: rule-comments@sec.gov
Subject: File No. S7-25-99

The Financial Planning Association (FPA) Board of Directors unanimously passed the 
following motion at its May 2002 Board Meeting indicating its opposition to the 
Securities and Exchange Commission's (SEC) proposed rule exempting certain 
broker-dealer activity from the Investment Advisers Act of 1940:
 
Whereas the SEC proposed a rule to the Investment Advisers Act of 1940 that permits 
certain broker-dealer activity an exemption from registration; and
 
Whereas the SEC continues to leave this rule in a proposed status with no timeline 
for adoption; and
 
Whereas the industry in our opinion is not providing solely incidental advice and 
has taken a very liberal interpretation of the proposed rule in it advertising; now
 
Therefore be it resolved that the Financial Planning Association reaffirms its 
opposition to the proposed rule because it believes in the strongest possible 
terms that consumers and the public are best served by professionals who provide 
financial planning advice acting in a fiduciary capacity, and who thoroughly disclose 
any financial and other conflicts of interests, and the Financial Planning Association 
urges the SEC to withdraw the proposed rule.
 
Thank you for your sincere consideration of our opinion on this very important public issue.
 
Sincerely,
 
Priscilla Florence, CFP and FPA member