Subject: File No. S7-25-99
From: Robert C Monin, CFP
Affiliation: FPA

August 23, 2004

WITHDRAW, do not amend, the rule proposal. FPA believes the rule is harmful to consumers by creating two different standards of conduct for persons offering financial planning services: a higher fiduciary standard for registered
investment advisers and a lower one under NASD suitability rules. The rule also exempts, in effect, brokers from being required to disclose conflicts of interest in connection with the offer of financial planning services.