From: William Douglas O'Rear [dorear@networktel.net]
Sent: Tuesday, June 25, 2002 11:12 AM
To: rule-comments@sec.gov
Subject: File No. S7-25-99

As a member of the Financial Planning Association, I am writing  to
express my opposition to the SEC's proposed rule exempting certain
broker-dealer activity from the Investment Advisers' Act of 1940. I,
along with the FPA, believe that consumers and the public are best
served by professionals who provide financial planning advice acting in
a fiduciary capacity, and who thoroughly disclose any financial and
other conflicts of interest. I urge the SEC to withdraw the proposed
rule.

Sincerely,

William Douglas O'Rear, CFP