Subject: File No. S7-25-99
From: Richard E. Smith

September 11, 2004

As an investor and individual pursuing a CFP certification, I'm concerned about your ruling to let stockbrokers practice as financial planners at fee. Please reconsider this stance and the inherent conflicts of interest this will produce. I am against this rule and would like you to abolish/amend this practice at once.

Sincerely,
Richard E. Smith
rsmith7466@aol.com