Phil Cannella Slams Wall Street Greed

Unlike many financial advisers in the securities industry , Phil Cannella doesn’t charge his Crash Proof consumers for his services. Phil Cannella is not a licensed securities adviser nor does he ever recommend securities for his clients. Phil Cannella is a consumer advocate who has created the exclusive Crash Proof Retirement System for people in or near retirement who want to protect the principal they’ve earned yet allow for the possibility of gaining interest. Unlike Wall Street, there are no fees (hidden or otherwise) in the proprietary Crash Proof Retirement System.

If you have your money invested on Wall Street, securities advisers continue to charge you fees and make their commissions regardless if your accounts are making money or losing money. The fees charged to consumer’s accounts who are invested in the market may be justified if the broker or fund manager actually earned them by growing his client’s accounts, but when fees are taken while money is lost for the client, this is tantamount to theft. Yet it seems that Wall Street has not changed over the years despite going through two major market crashes in the last 15 years. In 2015, many consumers who have had investments tied to Wall Street have lost money, yet the brokers and managers being paid have raked in billions.

An article in cnsnews summed it up in the following way:

“The securities industry in New York City tallied $11.3 billion in profits during the first half of 2015, higher than in the past three years…. The average salary, including bonus, rose 14 percent last year to a record $404,800 — the third highest on record after accounting for inflation. Despite new regulations and legal settlements related to the financial crisis, securities industry profits were strong in the past two years, averaging $16.3 billion annually, the report said. Profits in the first half of 2015 were stronger, rising 29 percent compared to the same period last year as the cost of settlements declined.”

When you review the numbers you will quickly see that an investment without fees, such as the vehicles within Phil Cannella’s exclusive Crash Proof Retirement system, often outperform Wall Street with all their top-heavy, fee ridden structured investments.