Statement from Joseph C. Pickard, ESQ Senior VP and General Counsel David Lerner Associates Inc.

Statement from Joseph C. Pickard, ESQ Senior VP and General Counsel David Lerner Associates Inc.

Core Facts

 [ What is this? ]


In the last few years, David Lerner Associates has been forced to deal with several FINRA regulatory matters that have been very costly to defend and very distracting to the firm's efforts for its clients.  David Lerner and the management of David Lerner Associates have decided it is time to move the company past these distractions and settle with the regulators.  As part of that settlement, David Lerner will be stepping aside temporarily from David Lerner Associates for the next year. 

In his absence, David Lerner Associates will move forward under the day-to-day management of its experienced executive and management teams led by John Dempsey, a thirty-three year veteran of the firm. Although David Lerner is stepping aside temporarily, he will become more involved with other non-broker/dealer business enterprises that have been developed over the years, such as the Spirit of America Mutual funds.

In making this announcement, David Lerner stated, "I am proud of what has been accomplished at David Lerner Associates, our exceptional employees, and of the fact that the firm has been able to help tens of thousands of people over the years...and will continue to help today. It’s been a long road and I cherish the personal relationships that have evolved along the way.  I am thankful for the tens of thousands of investors who have remained steadfast and loyal to David Lerner Associates. Most of all, I am confident that the future remains bright."

Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates,Inc. (DLA). This material does not constitute an offer or recommendation to buy or sell securities and should not be considering in connection with the purchase or sale of securities. Member FINRA & SIPC.


^ Top


Founded in 1976, David Lerner Associates (DLA) is a privately-held investment company. DLA’s headquarters are in Syosset, New York and has branch offices in Westport, CT; Boca Raton, FL; Teaneck, NJ; White Plains, NY; and Princeton, NJ.

^ Top