First Senior Financial Group Phillip J. Cannella III RIP OFF COMPANY King of Prussia Pennsylvania

As another former employee, I know better than anybody how to tell if Phil Cannella is lying.  Like another has said, you know Cannella is lying anytime his lips are moving.  This is the first of many posts I'll use to expose all his lies.  Stay tuned !!!!

Phil Canella’s LIE #4:  All he sells are garden variety indexed annuities available from any of the 500,000 licensed insurance agents in America today.  There is NOTHING special about the annuities he sells.  The Pennsylvania Insurance Code says an agent is required to answer each and every question asked by a potential client honestly and directly with no deception.  He does not want any potential client to learn he intends to sell them annuities so he deliberately tries to deceive them.

This my rebuttal for the above Group.  There was a misunderstanding with someone in the company who is no longer there.

I should have contacted them first before saying anything bad about them.

They were very understanding and took the time to explain all our questions.

Very nice visit.

Next time I will be better informed about my accounts.

If you were snookered by Phil Cannella to buy an annuity, you do have recourse.  Let me first apologize for your misfortune; Cannella gives every honest insurance agent a black eye with his reckless deceptive sales practices.  Here's how to get all your money back.

1. Hire a lawyer.  Make sure he's a bulldog willing to chew the insurance companies up and spit them out.  It will cost you a little money but will be worth it in the end. 

2. Have your lawyer write nasty letters to the insurance companies threatening legal action against them, citing elder abuse, unsuitability, the negative pr that will ensue and the financial losses they will incur.  Be sure to tell the companies what percentage of your assets Cannella locked up in annuities.  Make sure each insurance company is aware of all the annuities Cannella sold you.  (He probably "forgot" to mention these to the carriers.)  Most importantly, threaten to file formal complaints against the insurance companies with the PA Insurance Department. 

3. If the insurance companies are not responsive, file suit against them.  That will get their attention.4. Give the carriers a copy of Cannella's "Navigator" if he used one. 

If you do this, a few things will likely happen.  First, you will probably get all your money back without any penalties, maybe even with interest.  In addition, when an insurance company takes one look at Cannella's "Navigator" they will probably terminate his contract.  If Cannella put more than 50% of your total liquid assets into annuities and "forgot" to list them on the Suitability Questionnaire, he will likely be terminated by the insurance companies for committing insurance fraud (lying on an insurance application). 

The cherry on top is that Cannella will be "charged back" the commission he was paid - he will be forced to return all commissions he was paid on your cases.  Of course, Cannella has already spent this money on cocaine to go up his nose or on marijuana to self-medicate his alleged "ADHD."

Good luck!  Be sure and post your results back here.

Ripoff report

If you feel you have been wronged in this insurance sales transaction, lodge a complaint with the Pennsylvania insurance department. It is entirely possible that this organization has violated suitability rules for your investment. Especially if a great deal of your assets are invested in this product and tied up in it. This is not allowed. It is irresponsible.

This is the link which will you will have to copy and paste since this website does not allow links.

http://www.portal.state.pa.us/portal/server.pt/community/file_a_complaint/9258

File a complaint with the Better Business Bureau. Suggest the following resolution:

1. Cash out the annuity/Cancel the contract.
2. Demand that the organization pay your 18% cash out fee.

You can contact the Better Business Bureau here:
http://www.bbb.org

Again you will have to copy and paste this link because this website does not allow links.

Something else you can do: gather your contracts together and contact the insurance carrier Who issued your annuities.let them know that the agency in question may have violated suitability rules to get your business. This is a serious matter.

Good luck! Sorry you had to suffer with poor returns /misrepresented returns.

As a former employee, I know better than anybody how to tell if Phil Cannella is lying.  Like another has said, you know Cannella is lying anytime his lips are moving.  This is the first of many posts I'll use to expose all his lies.  Stay tuned for more.

Phil Cannella’s LIE #1:  If you ask Cannella directly what he sells, he’ll say, “Little known, tax-deferred vehicles issued by investment insurance companies (or he may say statutory insurance companies), with the potential for double-digit returns, that out-perform the market year in and year out, with no market risk.”  Cannella never tells potential clients that he’s locking up their money in annuities.  Cannella may recite a slight variation of this bogus statement.  Cannella claims he doesn’t sell, in his words, “insurances” at all. 

TRUTH:  It’s all lies.  All Cannella sells are garden variety indexed annuities available from any of the 500,000 licensed insurance agents in America today.  There is NOTHING special about the annuities Cannella sells.  The Pennsylvania Insurance Code says an agent is required to answer each and every question asked by a potential client honestly and directly with no deception.  Cannella does not want any potential client to learn he intends to sell them annuities so he deliberately tries to deceive them.