Subject: File No. S7-25-99
From: Jeff S Arnold, CFP
Affiliation: Financial Planning Association of Nebraska

August 23, 2004

As a Certified Financial Planner I wish to voice my opposition to the SECs reopening for public comment the rule exempting broker-dealers from the Investment Advisors Act of 1940 when offering fee-based brokerage programs.

I urder the SEC to WITHDRAW the rule proposal. I stronly believe the rule is harmful to consumers by creating two different standards of conduct for persons offering financial planning services: a higher fiduciary standard for registered investment advisers and a lower one under NASD suitability rules.

Jeff S. Arnold, CFP
1307 Wood Lawn Drive
Fremont, NE 68025