Subject: File No. S7-39-04
From: George D Fritts
Affiliation: CFP and FPA

February 1, 2005

I am in favor of the FPA position on providing advice. The so called Merrill rule, while allowing brokers who in most cases are honest and intelligent people, allows a serious conflict of interest in the guise of independence and fairness.
A lot has changed in the last decade or more when it comes to giving advice and financial planning Its time for the rules to reflect the change. The RULE SHOULD BE OPPOSED.