The President of the United States echoes Phil Cannella’s message on fiduciary duty.
Every weekend, Phil Cannella and Joann Small host The Crash Proof Retirement Show on Philadelphia’s number-one talk radio station, Talk Radio 1210 WPHT. This 50,000-watt station has the capability to reach 38 states as well as Canada.
Apparently, the signal’s been reaching Washington D.C.
On February 23, 2015, President Barack Obama gave a speech at AARP headquarters in Washington, D.C. in which he bemoaned the lack of fiduciary duty and the rampant conflicts of interest that pervade Wall Street. Throughout the speech, President Obama repeated the same mantras heard for years on The Crash Proof Retirement Show.
“After a lifetime of hard work, you should be able to retire with a sense of dignity and security,” said President Obama. “We’ve got to make sure that Americans are getting a fair share of the returns on their savings.”
To accomplish this, President Obama proposed tougher standards on Wall Street advisors who do not operate under a fiduciary duty. “The challenge we’ve got right now is there are no uniform rules that require retirement advisors to act in the best interest of their clients. And that’s hurting millions of working and middle-class families.”
“I’ve been educating people in or near retirement on these issues since 1999,” said Phil Cannella, Creator of the Crash Proof Retirement System. “Wall Street has never operated under a fiduciary responsibility. Without a required fiduciary responsibility, how can an investor distinguish sound financial advice from a self-serving sales pitch?”
For Phil Cannella, President Obama’s words were validation of his lifelong crusade of protecting and securing the everyday investor’s nest egg. But standing tall and pointing the Sword of Truth directly towards an industry as powerful as Wall Street has brought Cannella and the Crash Proof Retirement System plenty of resistance and unwanted attention. Cannella recalled such an incident from a recent Crash Proof Retirement Educational Event.
“How awkward do you think it was for me to stand before 180 people, and have a hedge fund president stand up and call me a fraud and a liar?” asked Cannella. “We’ve taken a lot of heat from licensed professionals, journalists, and anonymous Internet attackers. But now, the Crash Proof Retirement System has been vindicated by the President of the United States.”
In spite of the President’s validation of the Crash Proof Retirement System, Cannella says people shouldn’t get too excited about the ‘new, improved’ Wall Street.
“It’s all talk at this point,” said Cannella. “Wall Street’s system has been built with the everyday investor left at the bottom of the totem pole. I believe there will never be a fiduciary responsibility on Wall Street.
“But to see President Obama stand in front of a microphone, and tell the everyday investor that they’re being fleeced by their advisors—for the Crash Proof Retirement System, for me, and for Joann Small—this is verification of what we have stood for all these years.”
Phil Cannella and Joann Small’s upcoming Crash Proof Retirement Educational Events will feature President Obama’s speech in addition to a selection of groundbreaking interviews conducted by Retirement Media, Inc. Register for an event near you by calling 1-800-722-9728 or visit www.crashproofevents.com.
About Phil Cannella:
Phil Cannella is the creator of The Crash Proof Retirement Show airing Saturdays at 11am and Sundays at 1pm on Talk Radio 1210-AM, WPHT. As a consumer advocate, he specializes in financial education for today’s retiring generation. Phil Cannella is also the creator of the Crash Proof Retirement System, a safe alternative investment strategy used exclusively by First Senior Financial Group (FSFG), a financial education firm he founded over 39 years ago. In 2012, Phil Cannella stepped down as CEO of FSFG and relinquished that title to fellow consumer advocate, Joann Small, to broaden his reach through Retirement Media Inc (RMI). Although he remains as a principal and visionary of FSFG, Phil Cannella utilizes his new media company to not only report on the pitfalls within the financial sector, but reveal the proven remedies to overcome them, in an effort to prevent another market crash from ruining the retirement of millions overnight.
Phil Cannella is available to speak at your next event. Call for booking. 610-382-5466.
