Subject: File No. S7-25-99
From: Sandra L Bragar, CFP
Affiliation: Principal, Kochis Fitz

August 30, 2004

I urge you to WITHDRAW and not amend the proposed rule for two reasons:

1. The proposed rule allows a standard of conduct for stockbrokers and their firms that is different and less stringent than the one for registered investment advisors.

2. The proposed rule is anti-consumer. By permitting non-disclosure of conflicts of interest, it allows stockbrokers and their firms to misrepresent their primary sales role as one of a fiduciary advisor by receiving a fee for advise.