Phil Cannella shows his dislike of variable annuities
Phil Cannella – Phillip Cannella News: Phil Cannella shows his dislike of variable annuities very plainly and he is far from alone in the mindset that these financial vehicles are just wrong for the average retiree. It is quite unfortunate the all annuities are often lumped together as “bad” when there are some annuities – not the variable ones – which can be right for some consumers as Phil Cannella readily points out in his educational programs.
Phil Cannella points to a recent enforcement action
It is also unfortunate, as Phil Cannella explains, that there are financial advisors who seek to take advantage of those who do not understand the ins and outs of the financial world in order to “sell” them a product that is wrong for them. Phil Cannella’s efforts at industry reform are also targeted in a large measure at those who do wrong by their clients in order to line their own pockets.
Phil Cannella points to a recent enforcement action by the SEC: “The Securities and Exchange Commission today announced enforcement actions against a pair of brokers, an investment advisory firm, and several others involved in a variable annuities scheme to profit from the imminent deaths of terminally ill patients in nursing homes and hospice care.”
This is one of the driving forces that brought Phil Cannella to create the Crash Proof Retirement system. He wanted a system that was completely client driven and he built exactly what.
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