Phil Cannella has very strong views
Phil Cannella – Phillip Cannella Blog: Phil Cannella has very strong views in the way some financial advisors take advantage of their clients. One of the issues he repeatedly brings up is that the performance of a financial advisor who invests his client’s funds in securities has little bearing on his income. In other words, as Phil Cannella explains, the financial advisor will make money off of a client’s portfolio whether the client makes money or doesn’t make money.
Phil Cannella wants to see change
Phil Cannella wants to see that change so that advisors are held accountable for their actions and get paid based on performance, as you would expect of any professional. This is another reason that Phil Cannella has chosen financial vehicles to use in his crash proof retirement system whereby the assets the consumer invests are always working for him or her 100% of the time. Even the commission that Phil Cannella will receive from the insurance carrier based on the investment does not come out of the client’s funds, they come from the insurance carrier as an override.
This is not so in the securities world whereby the client never has 100% of his funds working for him or her.
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