David Lerner Associates Reviews | Glassdoor

David Lerner Associates Reviews

Updated Jul 10, 2019

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Found 51 reviews

3.4
StarStarStarStarStar
Rating TrendsRating Trends
64%
Recommend to a Friend
70%
Approve of CEO
John Dempsey
29 Ratings
Pros
  • "Willing to sponsor you for your licenses(in 6 reviews)

  • "I met some nice people still friends but they all left like I did(in 4 reviews)

Cons
  • "Limited product mix, not enough flexibility(in 5 reviews)

  • "there are none except for the long hours to get started(in 4 reviews)

More Pros and Cons
  1. "Great place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Compliance Associate in Syosset, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at David Lerner Associates part-time for more than a year

    Pros

    flexible hours and atmosphere, bagels on fridays, company outings and events, relaxed atmosphere

    Cons

    Mostly older folks, Not as many young people,

    David Lerner Associates2019-07-10
  2. "Mutual fund clerk"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Mutual Fund Representative in Syosset, NY
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at David Lerner Associates full-time for more than a year

    Pros

    Good work environment good benefits amazing team/ coworkers

    Cons

    not many advancement opportunities

    Advice to Management

    n/a

    David Lerner Associates2019-06-26
  3. "Finally Feel at Home!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Administration in Syosset, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at David Lerner Associates full-time for more than a year

    Pros

    Supportive family atmosphere, friendly co-workers, mutual respect between sales staff and administration, compassionate managers. I've never felt so welcome, comfortable and appreciated as I do here!

    Cons

    Minimal holidays (only closed when the market is). Some processes and ideals are a bit old-fashioned and could stand to move forward.

    Advice to Management

    Offer floating holidays so people can take off while the office stays open!

    David Lerner Associates2019-04-10
  4. "Great place to get started"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Investment Counselor in White Plains, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at David Lerner Associates full-time for more than a year

    Pros

    Lots of marketing money, support

    Cons

    Training only on proprietary product

    Advice to Management

    More real life training

    David Lerner Associates2019-02-14
  5. "Great place to work"

    StarStarStarStarStar
    Current Employee - Anonymous Employee 

    I have been working at David Lerner Associates part-time for less than a year

    Pros

    Great place to learn Friendly working environment

    Cons

    Very long hours Communication can be bad

    David Lerner Associates2019-02-08
  6. Helpful (2)

    "Unsustainable products, business model, firm"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Investment Counselor in Boca Raton, FL
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I worked at David Lerner Associates full-time for more than a year

    Pros

    Licensing, period. Over promise and under deliver

    Cons

    This is a failing broker dealer. At one time the firm was well known for fixed income bonds. Now they have a history of illiquid REITs, SEC violations, fines and sanctions on the owner of the company by FINRA, and complex proprietary products, (marketed as mutual funds), that even upper management can not explain. Because of this you are putting your self and license at risk of violations from FINRA and possible never...

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    Advice to Management

    My advise is to your present and prospective employees. Research this firm and it’s products (FINRA Broker Check) before risking your career.

    David Lerner Associates2019-03-10
  7. Helpful (11)

    "Investment Counselor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Investment Counselor in Westport, CT
    Doesn't Recommend
    Disapproves of CEO

    I worked at David Lerner Associates for more than 3 years

    Pros

    Management does not care about anything you do as long as you have production, which they take over half.

    Cons

    The short answer - The place is horrible! Management could care less about what you do and even less for the clients. They do not care one bit about the client and cover themselves by telling YOU to put in good account notes so they are absolved of any wrong doing. They only care about your production and do not care how you get it or from who, which is manly your family members and close friends. So unless you hate...

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    Advice to Management

    I cannot offer any advice because they are beyond hope. They all drank the cool-aid and never do what is right...ever! It truly amazes me that FINRA has not shut this place down by now and barred many of its employees, including 'managers' from the industry. Best advice to anyone considering this chop shop...DON'T!!

    David Lerner Associates2018-11-29
  8. "All that glitters is not gold"

    StarStarStarStarStar
    Former Employee - Anonymous Employee 

    I worked at David Lerner Associates full-time

    Pros

    Great salary for first year employees

    Cons

    Very old fasioned trainig style/system - not helpful at all.

    David Lerner Associates2018-08-24
  9. Helpful (4)

    "Investment Counselor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Investment Counselor in Teaneck, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at David Lerner Associates full-time for more than 3 years

    Pros

    It is a network marketing scam for financial products. You don't get paid during training or studying for your license.

    Cons

    It is a network marketing scam. They will invite you for an interview and try to encourage you to convince your friends and family to invest in their products. They will boast you can buy annuities and life insurance products with the return on the investments. If you have money to invest in their products then you should just buy the annuities and insurance directly from the insurance company. There is little to no risk...

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    Advice to Management

    Nice try!

    David Lerner Associates2018-07-18

    David Lerner Associates Response

    July 31, 2018

    We are sorry that you felt that this was some sort of scam. DLA is an established broker dealer that has been around since 1976. The Investment Counselor (IC) position is a lucrative career opportunity. As reviewed at the career seminar that you attended in Teaneck, NJ, there is ...

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  10. "Great place to work and build a career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at David Lerner Associates full-time for more than 3 years

    Pros

    Great people, excellent management and a very nice place to work.

    Cons

    Dress code, better get yourself a lot of ties

    David Lerner Associates2018-03-13
Found 51 reviews