Private company

David Lerner Associates

Logo: davidlerner.com⁴

American investment firm

David Lerner Associates is a privately held securities broker/dealer firm. The headquarters is in Syosset, New York, and with branch offices in Westport, CT; Boca Raton, Florida; Lawrenceville, NJ; and White Plains, NY. David Lerner Associates employs approximately 185 people, and holds clients' assets of approximately $4 billion.² Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

1976Founded¹

Industryfinancial services¹
HeadquartersSyosset¹
Websitewww.davidlerner.com
Legal formBusiness Corporation³
LEI254900R5MXRL07L7S741³
StatusActive³
LEI statusIssued and current³
Registered addressPO BOX 9006, 11791 New York, United States³
Registered withCorporation and Business Entity Database (Division of Corporations, State Records and UCC, Department of State), 383512³

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The story

Founded by David Lerner in 1976.¹

David Lerner Associates was founded by David Lerner in 1976. The first office was established in Jericho, New York.

From Wikipedia’s article on David Lerner Associates, shared under CC BY-SA 4.0.⁵

Leadership

Who has led David Lerner Associates, and when. Pick a name to see everywhere that person has worked.

FounderDavid Lerner¹

Products and brands

investment

Listed on Wikidata.¹

Controversies and legal

FINRA complaints and investigations

In May 2011, the Financial Industry Regulatory Authority (FINRA) filed a class action lawsuit against David Lerner Associates, charging the firm with misleading investors by marketing unsuitable products to them and conducting insufficient due diligence on the company that managed its real estate funds.

In October 2012, David Lerner Associates agreed to settle with FINRA for $14 million without admitting or denying the charges. Lerner was fined $250,000 and suspended from the securities industry for one year, and head trader William Mason fined $200,000 and suspended for six months.

In April 2013, U.S. District Judge Kiyo A. Matsumoto dismissed the class action lawsuit, ruling that investors had received sufficient disclosure to understand the risks of investing in its trusts. In her opinion, Judge Matsumoto wrote, “Plaintiffs’ belabored Complaint appears only to confirm that the Apple REITs are currently functioning in exactly the manner that was anticipated and disclosed in the REITs’ prospectuses and other offering documents.”

FINRA operatives opened investigations into Daniel Lerner, an executive vice president of the firm and child of its founder, in 2022; and CEO Martin Walcoe in 2024.

From Wikipedia’s article on David Lerner Associates, shared under CC BY-SA 4.0.⁵

Timeline

1976Founded Founded¹

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$4.0M 2020–2020

PPP loans $4.0M

Figures by year

Year	PPP loans	Total
2020	$4.0M	$4.0M

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA⁶. Matched to this company by name and state.

Apr 11, 2020$4.0M PPP loan (first draw) from The Huntington National Bank⁶To DAVID LERNER ASSOCIATES, INC., Syosset NY; $4.1M forgiven Jun 11, 2021

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataDavid Lerner Associates on Wikidata
2
WikipediaDavid Lerner Associates on Wikipedia
3
GLEIFDavid Lerner Associates LEI record (254900R5MXRL07L7S741)
4
Company websiteDavid Lerner Associates logo
5
WikipediaDavid Lerner Associates on Wikipedia (revision used)
6
SBASBA Paycheck Protection Program loan data (FOIA), loans of $150,000 and up