David Lerner Associates Syosset N.Y.: History of the Company

David Lerner Associates Syosset N.Y.: History of the Company

Core Facts


The History of David Lerner Associates

Read More About David Lerner Associates
When did David Lerner start the company?
David Lerner started the company in 1976, while he was still teaching. Over the years the firm has become a successful broker/dealer with more than 350 employees. The David Lerner Associates headquarters in Syosset NY and there are branch offices in New Jersey, Connecticut and Florida.
Why did the firm choose Syosset NY as David Lerner Associates headquarters?
The first office was in Jericho, but when the firm outgrew those premises the site in Syosset N.Y. was purchased and the new headquarters was built there. In the 1950s and 60s this location was the site of Lollipop Farm, an amusement park for kids with live animals, petting zoo and train rides. The Lerner family had visited Lollipop Farm many times during those years.
Where is the David Lerner Associates in Syosset NY located?
The corporate headquarters of David Lerner Associates Syosset N.Y. at 477 Jericho Turnpike, Syosset, NY 11791. There are 183 employees working in the two buildings at this location. In 2011 The Town of Oyster Bay issued a citation honoring David Lerner Associates headquarters as a beautiful landmark that is seen by many locals as the Gateway to Syosset.
What community activity does David Lerner Associates Syosset NY do?
David Lerner Associates sponsors the Annual Long Island Police Appreciation Run that raises money for the Police Crisis Fund, which helps support families of local law enforcement in emergency situations. Every summer the firm also sponsors several Music under the Stars outdoor concerts in the Town of Oyster Bay. The Town of Oyster Bay calls David Lerner Associates a role model for other local businesses to emulate.
What is the David Lerner Associates Syosset NY investment philosophy?
At David Lerner Associates we believe gambling and investing are not the same thing. We believe there is a sensible middle ground of investing and we pursue these fundamental investment principles regardless of market conditions.
What is the "Sensible Middle Ground of Investing"?
David Lerner Associates Syosset N.Y. believes that the sensible middle ground of investing refers to investments that are based on intrinsic value and can help our clients achieve their financial objectives.
How can the public find out more about these investments?
David Lerner Associates holds regular investments seminars in the Syosset NY area, as well as other locations where branch offices are located. Visit our newsroom to see where and when the next investment seminar is scheduled and register to attend one near you.
What is it like to work at David Lerner Associates?
Many of the employees who work at David Lerner in Syosset NY have been with the firm for more than twenty years. In 2011 the firm was named one of the Best Place to Work in New York by the New York State Society of Human Resource Management. According to the reviews on Glassdoor.com, 74%of our employees would recommend working at David Lerner Associates to a friend and 100% approve of the CEO.

David Lerner Associates

David Lerner Associates started out as one man working from a basement office out of his house, progressed to a single office in Jericho and is now a company of roughly 400 employees with two buildings at its Syosset headquarters with satellite offices in Princeton, Teaneck, White Plains, Westport, and Boca Raton.

When he started the business David Lerner was teaching during the day and working from his basement office. In the fall of 1975, Lerner decided to leave teaching and go into the investment business full time.  On January 16, 1976 David Lerner Associates opened its doors at 390 N. Broadway in Jericho, NY. The business was started with $2500 borrowed from a credit union.  Once the office was established, Lerner began recruiting people to work as investment counselors.

Market conditions in the late 70s led Lerner to re-assess the value of mutual funds. “The late 70s taught me a very important lesson: I realized that the stock market is no place for your rent and grocery money,” says Lerner.

After much thought, and thorough investigation into results and performance of various investments, Lerner decided on tax-free municipal bonds.

By 1980 the David Lerner Associates had grown so much, the company could no longer cope with the regulatory load in-house and they outsourced this work.  Security Pacific, a bond clearinghouse, was one of those third-party firms they depended upon to help meet regulatory requirements and do business effectively.  Unfortunately Security Pacific did not follow the rules and got into financial trouble.  This put David Lerner Associates at risk.  Lerner called the NASD and reported the problem with the clearing house.  It was a tough time and David Lerner Associates was facing a major legal battle.  They retained the services of Deloitte and Touche, as well as a specialist in bond securities.  After months of intense activity and investigation the issues were resolved.

By the mid-80s David Lerner Associates was becoming a significant firm in the securities business and the firm began to develop the idea of a family of mutual funds.

Today David Lerner Associates is a privately-held securities broker/dealer headquartered in Syosset, N.Y., with clients' assets under management of approximately $9 billion.

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At David Lerner Associates we believe in the sensible middle ground of investing. We pursue these fundamental investment principles regardless of market conditions. We offer many investment opportunities, some designed to provide income.

Founded in 1976, David Lerner Associates is a privately-held investment company with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates 516-921-4200

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David Lerner Associates

477 Jericho Turnpike Syosset, New York 11791-9006

Phone: 516-921-4200

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