David Lerner Associates Reviews | Glassdoor

David Lerner Associates Reviews

Updated November 29, 2018
46 reviews

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3.0
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John Dempsey
25 Ratings

Employee Reviews

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  1. "Love the team spirit at David Lerner Associates"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales Associate At David Lerner Associate in Syosset, NY
    Current Employee - Sales Associate At David Lerner Associate in Syosset, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at David Lerner Associates full-time (Less than a year)

    Pros

    Wonderful place to work at, great guidance from upper management, exceptional training on new products that are beneficial to the clients.

    Cons

    Long hours, need to brew Starbucks coffee instead of the house brand.

    Advice to Management

    Continue with the youth movement. Changes over the past two years have been remarkable.


  2. Helpful (1)

    "if you pass the 7 your are a VP"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at David Lerner Associates full-time

    Pros

    no oversight, none, cover your ask

    Cons

    no morals, sales and commissions are only considerations, clients come last. soaex. if they knew what an mlp is I would be amazed. 22% yield for elderly, yeah right. whats a portfolio? sell proprietary products for high commissions

    Advice to Management

    milk that sweet gig until the old man passes, you overpaid lazy yes men

  3. "Investment Counselor"

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

    I worked at David Lerner Associates (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 your family or want to get back at your buddy for sleeping with your wife, DO NOT sell to them!! Otherwise they will hate you when you sell them DLA proprietary funds. Don't believe me, check out Spirit of America funds yourself, such as Spirit of America Energy Fund (SOAEX). The place was one a bond shop and did okay back then, even though they (the brokers with the encouragement of management) would mark up the bonds 2+ points and until Puerto Rico bonds blew up! Yup, the heavily sold clients PR bonds with big mark ups knowing full well they were junk. The same time the were selling them to poor unsophisticated 'investors', they were dumping them from their bond fund.

    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!!


  4. "All that glitters is not gold"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    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.


  5. Helpful (1)

    "Investment Counselor"

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

    I worked at David Lerner Associates full-time (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 this way. If you buy investments in David Lerner then your returns are subject to risk and volatility. You need a considerable amount of money to invest in this company. If you have this amount of money then buy an annuity or life insurance product directly from the insurance company. These people are just trying to lay in the cut and get a piece of your money by having you invest in risky products. If you go for an interview or career seminar then do not give them any leads or recommend people to invest in this company. The information you have and the people you know are valuable to them. Make them pay for this information.

    Advice to Management

    Nice try!

    David Lerner Associates Response

    Jul 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... More


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

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

    I have been working at David Lerner Associates full-time (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


  7. "Vice President, Investments"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President, Investments in Westport, CT
    Current Employee - Vice President, Investments in Westport, CT
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at David Lerner Associates full-time (More than a year)

    Pros

    Flexible schedule. Good office location.

    Cons

    Very little management help.

  8. "INVESTMENT COUNSELOR"

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

    I have been working at David Lerner Associates full-time (Less than a year)

    Pros

    Great company, management wants you to make money

    Cons

    A lot of hours and hard work, to include some weekends


  9. "I love Working For An Honest Company with Integrity"

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

    I have been working at David Lerner Associates full-time (More than 3 years)

    Pros

    Great Team, Exceptional Products, Terrific Leadership

    Cons

    Not Enough Healthy Eateries Around The Office

    Advice to Management

    Keep doing what you are doing. I love the web enhancements and the direction of the website. Its very progressive and modernized.


  10. "Finacial Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Were willing to sponsor for 7, and initial training. Sponsored information sessions and had radio marketing

    Cons

    primary focus of REITS and municipal bonds when other financial products would be better investments

    Advice to Management

    increase training on other products.