First Senior Financial Group


Country United States
State Costa Rica
City King of Prussia
Address 2700 Horizon Dr #300
Phone 16107837750
Website www.firstseniorfinancialgroup.com/
Most Useful Comment
  • Jun 27, 2014

Phil Cannella’s LIE #2: Cannella claims to offer prospects a unique investment they can’t get anywhere else.

TRUTH: Any licensed insurance agent can sell the exact same products.

Phil Cannella’s LIE #3: Cannella promises prospects that they will earn “double-digit returns” in his annuities.

TRUTH: In today’s low interest rate environment, NO newly purchased annuity will earn double digit returns for YEARS to come. The caps within each annuity Cannella sells will limit annual earnings to 1% to 2% until the economy FULLY recovers and interest rates rise substantially. When Cannella tells you to expect to earn double-digit returns every year in today’s financial climate, he is LYING.

Phil Cannella’s LIE #4: Cannella claims his annuities will “outperform the market year in and year out.”

TRUTH: These annuities are linked to an index, usually the S&P 500 Index. There are caps in almost every annuity that limit the potential annual earnings in some way. Ask yourself this question: How can an annuity with caps designed to limit maximum potential earnings EVER outperform the index it is linked to? It can’t. It is a mathematical impossibility for ANY annuity to EVER outperform the market, much less outperform the market “year in and year out.”

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First Senior Financial Group Reviews

Most Useful Comment
  • Apr 1, 2015

Went to high powered seminar 2 full years ago , i did all that they suggested me to do . was offered a bonus which does not count until full 20 year term is met without interest accruing through life of contraction bonus .First Senior financial Group ( Crash Proof Retirement ) boast of returns of 10-14 % returns . and projects out grafts of 6% annually to make look as if will be the minimum .

However after 2 full years i have only averaged on little over 4% . even though the market DOW was 13 k when started now around 18 k , the SAP also on record highs and NASDIC also in near record territory . i expected to be much higher than 4.25 %.

Seems to me that I have been baffled with a nice brunch and fancy footwork through the contract . fancy binder and lots of double talk . Beware !

A husband and wife team shows very charitable donations made .Excuses used they had to your terminate initial consultant go and would make changes to the agreement in contract to allow for greater returns . After another year still poor return that i could have received in any professional institution .

Also they scare you about showing another financial institution the information due to it proprietary information and will sue for damages if you show someone else other professionals . And completely cover themself by video filming all the their seminars . supposal for your protections .

Beware most people think they understand and read the contract but rarely understand all they have signed .My mistake and now for next 18 years I will pay with my hard earned retirement money . I am powerless and afraid they will sue me , but I must warn others of this locative scam .

Thay insisted on 2 checks to different institutions for diversation .

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Most Useful Comment
  • Jul 1, 2014

As a former employee of First Senior Financial Group and Phil Cannella, I know better than anybody how to tell if he's lying. Like somebody already said, you know Cannella is lying anytime his lips are moving. This will be the first of many posts exposing 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.

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Most Useful Comment
  • Jun 28, 2014

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.

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Most Useful Comment
  • Jun 27, 2014

Phil Cannella’s LIE #2: Cannella claims to offer prospects a unique investment they can’t get anywhere else.

TRUTH: Any licensed insurance agent can sell the exact same products.

Phil Cannella’s LIE #3: Cannella promises prospects that they will earn “double-digit returns” in his annuities.

TRUTH: In today’s low interest rate environment, NO newly purchased annuity will earn double digit returns for YEARS to come. The caps within each annuity Cannella sells will limit annual earnings to 1% to 2% until the economy FULLY recovers and interest rates rise substantially. When Cannella tells you to expect to earn double-digit returns every year in today’s financial climate, he is LYING.

Phil Cannella’s LIE #4: Cannella claims his annuities will “outperform the market year in and year out.”

TRUTH: These annuities are linked to an index, usually the S&P 500 Index. There are caps in almost every annuity that limit the potential annual earnings in some way. Ask yourself this question: How can an annuity with caps designed to limit maximum potential earnings EVER outperform the index it is linked to? It can’t. It is a mathematical impossibility for ANY annuity to EVER outperform the market, much less outperform the market “year in and year out.”

Mark as Useful [2 votes]

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