Subject: File No. S7-25-99
From: Shawn J Jacobson, CFP
Affiliation: Legacy Financial Advisors Inc, Member-Financial Planning Association MN

September 16, 2004

I am submitting my request to have the Securities and Exchange Commission SEC or Commission withdraw the above-referenced proposed rule entitled Certain Broker-Dealers Deemed Not to Be Investment Advisers the Rule as proposed on November 4, 1999.
I believe the Rule is detrimental to consumer protection by allowing broker-dealers to avoid the blanket fiduciary protections of the Investment Advisers Act of 1940 Advisers Act. By eliminating special compensation as a critical element in the contractual relationship, the Rule permits stockbrokers to misrepresent their fundamental sales role as one of a fiduciary adviser receiving a fee for advice. Further, it places financial planners at a competitive disadvantage by allowing brokers to market similar programs under less rigorous regulatory standards for disclosure and advertising.

I respectfully request the SEC act to immediately withdraw the Rule.