Phil Cannella knows that the Statement of Additional Information is Wall Street’s dirty little secret. But he admits that Wall Street’s done a great job of keeping that secret—so great, in fact, that most financial advisors don’t even know the Statement of Additional Information exists!
“We’ve all heard about the Book of Prospectus—because we all read it cover to cover!” Phil Cannella joked at a recent Crash Proof Retirement educational event. In that book, you can find out about the hidden fees your advisor never showed you.”
– Phil Cannella
But it’s another book—that little-known Statement of Additional Information—that tells the rest of the story. Phil Cannella and Retirement Media Inc. have done research indicating that almost 50% of fees in mutual funds won’t be found in the Book of Prospectus. Rather, you’ll need to ask your advisor for the Statement of Additional Information. Only there, wrapped in anywhere from 50 to 150 pages of complex legal jargon, will you find the rest of your fees—charges that take, on average, 1.44% of your funds annually.
Fortunately, Phil Cannella has made it his mission to uncover and expose the truth behind these ‘tricks of the trade’ that slowly drain your accounts. He accomplishes this by spending time at each educational event explaining the exclusive Crash Proof Retirement System & disclosing the existence of these statements, and then teaching attendees where they can find the one that pertains to their mutual fund. Phil Cannella continues to work hard to reveal truths like the Statement of Additional Information to Americans in or near retirement. And it’s a good thing he does—because we can’t depend on Wall Street.