Subject: File No. S7-25-99
From: Lawrence G Boyles
Affiliation: President, Retirement Specialists Incorporated

August 25, 2004

I have been an RIA since 1996. I urge the SEC to withdraw this proposed rule change. It will destroy the uniqueness of the RIA profession. It will also hinder consumers by hiding conflicts of interest from them.

Sincerely,

Lawrence Boyles