HOLBROOK, N.Y. (Jan. 18, 2019)—American Portfolios Financial Services, Inc. (AP), a privately-held, independent broker/dealer that services financial advisors across the country, recently donated $25,000 in support of the Long Island Cares campaign to provide various points of assistance to those federal government employees who have been affected by the current government shutdown. The donated funds, which were made possible through American Portfolios Foundation, Inc., are specifically earmarked to help those federal workers in need.
After watching the daily headlines regarding the current and potential effects of the government shutdown, AP executives discussed measures whereby the firm could provide support to partially alleviate the burden felt by those local federal employees. “Along with AP CFO Damon Joyner and Chief Administrative Officer Dalchand Laljit, I began strategizing about what could be done through our foundation to help Long Islanders who are federal workers directly affected by the government shutdown,” states CEO Lon T. Dolber. “As the situation progressed, we realized that the need was growing and that we had to act fast. We felt the best way to help the most people as quickly as possible was to work with a community outreach organization, such as Long Island Cares, with dedicated people who could deploy this.”
Since its inception, AP has had a long-standing commitment to corporate social responsibility through financial gifts and employee engagement in various charitable organizations and causes. “It is part of our DNA to be good corporate citizens, which has many facets—one of which is to be sensitive to the needs of our community,” states Joyner. “We started the American Portfolios Foundation so that we could be proactive and act quickly when it comes to assessing people’s needs. When we came back from our meeting with Long Island Cares, we knew this was just the beginning and that we would be committed to working with them to determine what else we could do to help.” The firm is discussing ways to engage AP employees in the Long Island Cares mission.
“We are very grateful to American Portfolios for stepping in with a generous donation to help federal workers on Long Island who are affected by the U.S. government shutdown,” said Paule T. Pachter, CEO of Long Island Cares, Inc. – The Harry Chapin Food Bank. “Long Island Cares exists to assist our neighbors in need, and now is the time to help those individuals and families who are living without paychecks and are feeling a significant financial strain.”
Long Island Cares, Inc. was founded as the first food bank on Long Island, N.Y., in 1980 by the late singer/songwriter and social activist Harry Chapin. It provides nutritional food and support services for a network of more than 580 community-based member agencies, including food pantries, soup kitchens, emergency shelters, child care programs, disability organizations, veterans’ services programs and more. Per the organization’s press release issued on Jan. 4, 2019, Long Island Cares is “encouraging federal government employees and their families who might be experiencing financial hardships as a result of the current government shutdown to avail themselves of the community-based services provided by Long Island’s regional food bank.” The organization has community-based satellite locations in Freeport, Lindenhurst and Huntington Station, N.Y.
An integral part of AP’s strategic focus and engrained in its corporate culture is a keen awareness to the community by taking part in socially responsible programs, such as its ongoing association with non-profit organizations like World T.E.A.M. (WT), which organizes athletic events for disabled and able-bodied citizens to achieve a common goal. Employees actively volunteer, coach and compete in WT events, including the annual Face of America bike ride, Coastal Team Challenge and Adventure Team Challenge. The firm also has a long-standing relationship with Virtual Enterprises International, Inc. (VEI), an experiential learning program that fosters the nation’s future business leaders, by hosting and judging business plan competitions, as well as facilitating summer interns at the corporate offices and practices of its investment professionals through its Internship Fellows Program.
Most recently, AP has entered into a five-year funding commitment—made possible through the American Portfolios Foundation—to develop and operate The American Portfolios Assistive Technology Lab, which is housed within The Center for Discovery’s Technology Hub and Incubator (THINC). The dedicated laboratory will spawn the development of new products, technologies and assistive devices that are intended to expand opportunities for individuals with a range of disabilities and complex conditions to experience and interact with nature and the outdoors, including sport, athletic and recreational activities.
About American Portfolios
Headquartered in Holbrook, N.Y., American Portfolios Financial Services, Inc. (APFS) is a full-service, independent broker/dealer and member firm of FINRA and SIPC, offering a complete range of financial services, including personal financial and retirement planning, securities trading, mutual funds, access to investment research, long-term care planning, insurance products and tax-free investing. Fee-based asset management is offered through its sister subsidiary, American Portfolios Advisors, Inc., (APA), an SEC Registered Investment Advisor. Both entities, along with technology entity American Portfolios Advisory Solutions, LLC, collectively reside under the legal entity American Portfolios Holdings, Inc. (APH). Full-service securities brokerage is available through a clearing firm relationship with Pershing, LLC, a BNY Mellon firm, the securities of which are held on a fully disclosed basis. The company currently serves 831 independent investment professionals located in 382 branch locations throughout the nation. It was named Broker-Dealer of the Year* (Division III) by Investment Advisor magazine in 2015, 2016, 2017 and 2018, as well as one of the top 10 Best Companies to Work for in the state of New York for 2016, 2017 and 2018 by the New York State Society for Human Resources Management (NYS-SHRM) and the Best Companies Group (BCG).
*Based on a poll of registered representatives conducted by Investment Advisor magazine. Broker/dealers rated highest by their representatives are awarded “Broker/Dealer (B/D) of the Year.”
About American Portfolios Foundation, Inc.
American Portfolios Foundation, Inc., a 501(c)(3) not-for-profit organization that was originally created in New York in 2004 and amended in 2018 and headquartered in Holbrook, N.Y., is intended as a non-profit entity designed to advance awareness, assistance and support for charitable causes. Board members include AP CEO and President Lon T. Dolber, president; AP Chief Administrative Officer Dalchand Laljit, vice president; and AP Chief Financial Officer Damon Joyner, treasurer/secretary. Additionally, various roles are held by members of AP headquarters staff. The board meets on a quarterly basis to discuss its existing relationships with various charities and to determine the focus for various upcoming initiatives that will require the Foundation’s services and support.
About Long Island Cares
Founded as the first food bank on Long Island, N.Y., in 1980 by the late singer/songwriter and social activist Harry Chapin, Long Island Cares provides nutritional food and support services for a network of more than 580 community-based member agencies, including food pantries, soup kitchens, emergency shelters, child care programs, disability organizations, veterans’ services programs and more. Long Island Cares is one of the region’s most comprehensive hunger assistance organizations, serving thousands of individuals and families in need.