Elizabeth Jachles v. American Portfolios Financial Services
In 2015, Elizabeth Jachles hired our firm to represent her claim against American Portfolios, as a result of the investment advice she received at Harbor Capital Advisory Services. While the stock market saw substantial growth, Jachles earned relatively nothing on her investment portfolio. In some years, her investment expense was greater than her annual salary as a Brighton, NY schoolteacher. Basically, the investment strategy benefited everyone except Jachles, the investor taking the risks. On 11/2/2017, a FINRA Arbitration Panel awarded Jachles $461,377.15 to be paid by American Portfolios. The award was pursuant to the following claims by Jachles against American Portfolios: breach of fiduciary duty, violation of FINRA rules, negligence, breach of contract, aiding and abetting, unjust enrichment, and respondeat superior.