Phil Cannella – Phillip Cannella Blogs: Phil Cannella is opposed to the fleecing that occurs on Wall Street day in and day out. Quite remarkably, as Phil Cannella very candidly points out, the everyday investor is the one who usually gets the short end of the stick and the big banks most often come out on top.
Phil Cannella challenges the integrity of this industry as it lacks a fiduciary responsibility toward its clients. Phil Cannella makes a good point when he says that a mutual fund manager makes money on your portfolio whether your assets grow or decline. You could lose half of your nest egg, but your portfolio manager would still be happy as he’s still making money while you are seeing your assets depreciate to unsustainable levels.
Phil Cannella doesn’t want people in or approaching retirement to put their life on the line by investing in risk, considering the volatility of the markets which could in one short moment wipe out much of the wealth one had worked so hard to build up over the years of one’s life. To that end, Phil Cannella urges consumers to take a look at investment vehicles that are unaffected by market downturns.