Phil Cannella often speaks of a fiduciary responsibility. What many people ask is, “What exactly is that? According to the dictionary, the word means, “involving trust, especially with regard to the relationship between a trustee and a beneficiary.”
The reason Phil Cannella speaks about this so often is that people in the financial industry should hold a fiduciary duty toward their clients, yet so few do. A fiduciary must act selflessly in the best interest of his clients. Yet so many financial professionals don’t do that and worse probably don’t even know how to. Phil Cannella explains that it is endemic of financial professionals to lack any sort of fiduciary duty, especially when it comes to Wall Street advisors. How could it not be so, if these advisors are raking in millions of dollars to their own pockets in fees while their clients’ portfolios are steadily shrinking?
It is for this reason that Phil Cannella focuses on the proprietary Crash Proof Retirement System that provide safety for people in or approaching retirement. You cannot afford to lose your life savings when you hit the point in your life when you want to retire. Phil Cannella strives for his clients to have the retirement they wished for by preserving and growing their assets without market risk. And he does so without charging his clients any fees. If you want to look for an example of a fiduciary in the real world, you should take a good and hard look at what Phil Cannella does day in and day out. For him it is all about helping his clients protect and grow their assets so they have them during retirement to enjoy.
Phil Cannella begs other financial advisors to take up the crusade for more fiduciary responsibility within the profession and thus help those who come to us for help.