Haselkorn & Thibaut Opens Investigation into Martin Lerner, Former David Lerner Associates Broker in Boca Raton, FL
Investors rely on the integrity, professionalism, and transparency of financial advisors to manage their hard-earned money. Recent developments surrounding former David Lerner Associates, Inc. broker Martin Lerner have captured the attention of industry professionals and everyday investors alike. Haselkorn & Thibaut — a national investment fraud law firm with over 50 years of experience and a 98% success rate — has launched a focused investigation into Martin Lerner’s professional conduct at David Lerner Associates and prior affiliations. This article is intended to provide investors with a clear, detailed, and unbiased look at Martin Lerner’s registration history, any red flags or customer complaints, and explain what this means for individuals concerned about their investments.
Who is Martin Lerner?
Table of Contents
| Name | Martin Lerner |
|---|---|
| CRD Number | 871038 |
| Location | Boca Raton, Florida |
| Current Status | Not currently registered with any FINRA-member firm |
| Past Firms |
David Lerner Associates, Inc. (04/1994–05/2024; 04/1980–02/1988) First Investors Corporation (09/1979–02/1980) |
With a career spanning decades, Martin Lerner worked most recently for nearly 30 years at David Lerner Associates, Inc., a well-known broker-dealer. Prior to this, he was registered with First Investors Corporation. According to public records, as of June 2024 Lerner is not currently registered with any FINRA-member firm and is not licensed to sell securities. His long tenure at David Lerner Associates coincides with numerous regulatory actions and customer complaints associated with the firm.
BrokerCheck Summary & Registration History
Martin Lerner’s professional history is available in detail on the FINRA BrokerCheck database. This provides current and former clients with transparency into Lerner’s employment history, potential disclosures, and regulatory records.
- First registered in the securities industry in 1979 with First Investors
- Affiliated with David Lerner Associates, Inc. for two tenures: 1980–1988 and 1994–2024
- Not currently registered with any FINRA-member firm as of May 2024
Complaints, Lawsuits, and Regulatory Red Flags
Investor vigilance is always essential—especially in light of regulatory or customer complaints. Reviewing Martin Lerner’s BrokerCheck file and public records yields the following:
- Customer Disputes: Public reports confirm that Martin Lerner was a named representative in several customer disputes while at David Lerner Associates. The complaints generally allege unsuitable investment recommendations, misrepresentation, and failure to disclose material risks associated with products such as non-traded REITs and Energy 11, LP investments.
- Resolution of Complaints: Records indicate that certain complaints resulted in settlements paid either by the firm or the rep, with settlement amounts ranging from several thousand to tens of thousands of dollars.
- No Known Criminal Proceedings: There are no current records of criminal proceedings against Martin Lerner specific to securities or investment fraud.
- Regulatory Actions: As of the last update, there are no outstanding regulatory actions directly naming Martin Lerner. However, David Lerner Associates, Inc. itself has a history of regulatory settlements with FINRA and the SEC regarding its sales practices.
- Employment Separation: Lerner’s departure from David Lerner Associates in May 2024 is listed as a voluntary separation, with no reported allegations or disciplinary actions related to the exit.
Let’s break down the specifics of the customer complaints:
| Date | Allegation | Product/Firm | Outcome |
|---|---|---|---|
| 2018 | Unsuitable, high-commission investments (non-traded REITs, Energy 11, LP) | David Lerner Associates | Settled by firm for $32,000 |
| 2020 | Misrepresentation and failure to disclose risks | David Lerner Associates | Claim Denied |
| 2015 | Unsuitable recommendations leading to financial loss | David Lerner Associates | Settled for $16,750 |
Note: The above list includes examples based on public complaint records—it is always recommended to check the most current disclosures on BrokerCheck for updates.
What Should Investors Know?
Even experienced advisors may have disclosures—but repeated complaints or regulatory findings may point to broader supervision or suitability issues at a firm or with an individual advisor. All investments involve risk, but your advisor should provide transparent, honest information suited to your goals and risk tolerance. Red flags for investors considering doing business with Martin Lerner or anyone with similar records may include:
- Multiple client complaints or disputes involving the same type of product
- Past settlements—even when not indicative of guilt, large or frequent payouts may be a warning sign
- Affiliation with firms with regulatory scrutiny or history of unsuitable product sales
- Sudden employment changes without a clear reason
These issues can impact your current and future investment portfolio. If you have invested in non-traded REITs, energy partnerships, or other products through David Lerner Associates, and have concerns about losses or the advice given, it may be prudent to have your situation reviewed by an independent professional.
How Can Haselkorn & Thibaut Help?
Haselkorn & Thibaut is currently investigating claims related to Martin Lerner’s conduct at David Lerner Associates, Inc. With over 50 years of collective experience, a 98% recovery rate, and millions recovered for investors nationwide, the firm’s attorneys offer a free confidential case review.
No recovery, no fee. It’s that simple.
Worried about investment losses? Want to know your options?
Call Haselkorn & Thibaut at 1-888-994-8066 for your free consultation today, or connect through investmentfraudlawyers.com.
Next Steps for Investors
- Check your account statements and confirm the investments purchased during Martin Lerner’s tenure
- Review your advisor’s full regulatory record on FINRA BrokerCheck Disclaimer: The information contained in any post on this website is derived from publicly available sources and is not guaranteed as to accuracy and often involves allegations which may or may not be proven at some point in the future. All posts are believed to be accurate as of the time of original posting, but the accuracy and details are subject to and expected to change over time and which may contain opinions of the author at the time posted.
