ED Magedson – Founder
First Senior Financial Group20109 Valley Forge Circle King of Prussia, Pennsylvania USA
First Senior Financial Group Phillip J. Cannella III RIP OFF COMPANY King of Prussia Pennsylvania
Went to see these people after listening to them on the radio for months. Had charts with all the information on it about the pie breakdown and the amounts we will have after 1-5, 6-10yrs.
Well after first year I noticed the interest rate was not what they said it would be. All the charts had 6.5 %. What did we get?? 1.5, 2., thats all. Then we went over the books and found out the penalty years went all the way up to 11 years.
We have contacted other brokers and have been told we were hooked, and drowned. No one will touch us because of the cost of the penalty. first year is 18%, all the way down to 2% in the 10th year.
These people saw us coming. While they are making the 6% and swimming in money we are struggling with 1%. We also had 3 different contacts with this company in a 6 months period.
This report was posted on Ripoff Report on 06/03/2014 06:18 PM and is a permanent record located here: http://www.ripoffreport.com/reports/first-senior-financial-group/king-of-prussia-pennsylvania-19406/first-senior-financial-group-phillip-j-cannella-iii-rip-off-company-king-of-prussia-pe-1151942. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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