Now, broker/dealers not registered as investment advisors will be required to give brokerage customers a disclosure stating: "Our interests may not always be the same as yours." Timed to coincide with the compliance deadline for the rule, which the Securities and Exchange Commission adopted in April, the Financial Planning Association is releasing a brochure for clients that explains the difference between a brokerage account and an advisory account.

"Consumer Tips on Working with a Financial Adviser" informs consumers that the new rule "only muddies the name game."

The rule tries "to clear up common misperceptions of consumers about conflicts of interest" but allows brokers to continue using different titles.

(c) 2005 Money Management Executive and SourceMedia, Inc. All Rights Reserved.

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