Subject: File No. S7-25-99
From: Phillip M. Boyd
Affiliation: Investment Adviser Representative

August 24, 2004

Please withdraw, rather than amend, the Merrill Lynch proposed rule. I believe the rule to be anti-competition, and will create two standards of conduct for persons offering financial planning services. I dont believe that there should be two stanadards of conduct under rules of disclosure for advisory services. Thanks.