Retired Pennsylvania Rail Worker Lost $350,000 in Life-Savings


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.


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