The Green Firm has filed a claim through the FINRA arbitration process against broker-dealer, E1 Asset Management, Inc. The claim is on behalf of a retired Pennsylvania rail worker who entrusted his financial advisor and E1 Asset Management with his life-savings. After repeated solicitations from the broker, our client transferred his savings to E1. Within four years under the broker and E1’s management, our client lost around $350,000 - virtually everything he’d saved over his working life.
The approximately $350,000 in losses were allegedly due to a series of unsuitable investments and the negligent abuse of complex financial product called non-traditional ETFs or exchange-traded funds. ETFs are tied to a market benchmark and trade at a multiple of that benchmark. They are specifically and explicitly designed to be use for trading in a single day. In this case, the financial advisor at E1 held ETFs in our client’s account for up to one year.
If you or anyone you know has been the victim of investment fraud or broker misconduct, please contact our experienced securities attorneys immediately toll-free at 1-855-462-3330 or via email by clicking here.