Millions of Americans are invested in Mutual Funds, but many do not understand the make-up or fees involved. Phil Cannella is on a mission to bring truth and transparency to American retirees as it pertains to their finances and the financial “professionals” who are in charge of managing their accounts.
As the creator of the exclusive Crash Proof Retirement® System, Phil Cannella exposes the truth about mutual funds. With over 12,000 different accounts in this country alone, mutual funds represent the most accessible option available to most investors looking to grow their money. But very few investors really understand where their money goes once they write the check to their fund’s manager, as Phil Cannella explains.
“There are fees involved with every mutual fund. Many of them are covered in the fund’s prospectus; the book that everyone supposedly reads cover-to-cover but never do!”
There is another document called the Statement of Additional Information that most people haven’t heard of, let alone read. It’s a document that discloses several additional fees that eat into your money.
“This one is called the Statement of Additional Information, and it makes the prospectus look like a Dr. Seuss book.”
What’s worse is that you probably aren’t even aware this document exists. But don’t feel bad—as Cannella points out, chances are your broker of fund manager isn’t aware of it either! That’s because mutual fund companies don’t consider the Statement of Additional Information an essential part of educating clients about the fund. Therefore, investors must issue a specific request that their fund manager share this document with them.
“Any industry that requires licensure—insurance, accounting, doctors, teachers—that professional is held to a fiduciary responsibility,and that means the professional must put your interest as a client, a patient, a student—above his or her own interests. So are you surprised that Wall Street does not operate under a fiduciary responsibility?”
Without a fiduciary obligation, Cannella reasons, there’s no way to tell if the one mutual fund—out of 12,000 options—that your advisor chose is the fund that best serves your interests. Until now, that is. Phil Cannella promises that if you want FULL disclosure of the fees associated with your mutual fund, all you have to do is call Crash Proof Retirement® at 1-800-722-9728, or go to: CrashProofRetirement.com and schedule an educational appointment.
See what attendees at a Crash Proof Educational Event learned about the hidden fees in Mutual Funds.