Phil Cannella explains types of financial vehicles
Phil Cannella – Phillip Cannella News: Phil Cannella explains that there are two types of financial vehicles. There are those that are broker-driven and those that are client-driven. Here we will discuss the client-driven ones.
Phil Cannella focuses on client-driven vehicles
Phil Cannella, in his Crash Proof Retirement System, focuses solely and only on client-driven vehicles and there is good reason for this. As Phil Cannella himself explains: “A client-driven financial vehicle is a money instrument that by and large favors the owner, not the advisor. These financial vehicles can help you stay a step ahead of inflation without the market risk, without market fees and without worrying about losing your principal. When you invest in client-driven products, you don’t have to pay taxes on accumulation until you withdraw, so if you leave the gains in your retirement accounts, you’re not going to get a 1099 at the end of the year requiring you to pay taxes on money that you’ve made but are not withdrawing.”
Another feature of these types of vehicles is that the entirety of the client’s money is always working for him or her. Phil Cannella explains this further indicating that in broker-driven vehicles you never have 100% of your money working for you because right from the get-go a portion is taken out as a management fee and that fee will continue to be exacted from there on out. Phil Cannella
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