From: Will Marshall [mw2wjm@yahoo.com]
Sent: Monday, June 24, 2002 10:46 AM
To: rule-comments@sec.gov
Subject: File# S7-25-99

How can "Certain Broker-Dealers deemed not to be Investment Advisers" and yet be 
able to offer and provide comprehensive financial planning advice without being 
subject to registration under the Investment Advisers Act of 1940?  The serious 
consideration by the SEC to play word and definition games not to stregthen and 
improve the quality of Investment Advisers rather, to accommodate big players in 
the self-serving Broker/Dealer arena is, I believe, a step backward.

Cordially,




Will Marshall, CFP





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