Last Updated: July 2025 – White Plains, NY
Here’s what you need to know about White Plains, NY stockbroker Daniel Todd Lerner:
- Name: Mr. Daniel Todd Lerner
- Current Employer: David Lerner Associates, Inc.
- Prior Employers: Prudential Securities Inc., Charles Schwab & Co., Inc., M.L. Stern & Co., LLC, Bear Stearns & Co. Inc., SSH Securities, Inc.
- Function: Stockbroker / Financial Advisor
- Aliases: Daniel T. Lerner
- Primary Location: White Plains, NY
- CRD Number: 1255769
- Can Daniel Lerner be sued in FINRA arbitration? Yes
- Sanctioned by FINRA: Investigation pending
- Highest Settlement or Award: $918,750
If you’ve sustained damages from Mr. Lerner, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Daniel Lerner As Your Stockbroker?
In total, Mr. Lerner has been named in at least 13 customer disputes ,many of which involve the sale of Energy 11, Energy 12, and the Spirit of America Energy Fund and other illiquid private placement products. Notably:
- A July 2023 settlement resolved claims for $141,815 involving allegations of unsuitability and misrepresentation.
- In February 2022, a separate case settled for $918,750.
- Additional settlements include amounts of $455,000, $92,000, $82,500, $59,786, and $25,000.
These disputes frequently cite violations of FINRA Rule 2111 (Suitability), which mandates brokers must have a reasonable basis to believe a recommended investment is suitable for the customer, and Rule 2010, which requires brokers to observe high standards of commercial honor and just and equitable principles of trade.
Ongoing FINRA Investigation:
- FINRA Case No. 20210723292
- Allegations: FINRA alleges Lerner recommended unsuitable investments in Energy 11, Energy 12, and Spirit of America Energy Fund without a reasonable basis (violation of FINRA Rule 2111). He is also accused of causing his firm to maintain inaccurate books and records (violating FINRA Rule 4511).
- Status: Pending
- Notice Date: July 28, 2022
Allegations of Broker Misconduct Against Daniel Todd Lerner
Clients of Daniel Lerner have alleged the following forms of misconduct:
- Unsuitable Investment Recommendations
- Misrepresentation and Omission of Material Facts
- Breach of Fiduciary Duty and Supervision
- Falsification of Records
- Elder Abuse and Fraud
The pattern of allegations against Mr. Lerner spans several years and includes claims of serious violations that fall under key FINRA conduct rules. Investors who believe they were misled or sold unsuitable products may have recourse through FINRA arbitration.
Private Placements under Reg D: What is a Private Placement? According to the U.S. Securities and Exchange Commission (SEC):
“Under the federal securities laws, a company may not offer or sell securities unless the offering has been registered with the SEC or an exemption from registration is available. Offerings exempt from the SEC’s registration requirements pursuant to Securities Act Section 4(a)(2) or its safe harbor under Regulation D of the Securities Act are often referred to as private placements.”
The SEC warns that unregistered offerings may be utilized to conduct investment scams and that investors should have the ability to weather a total loss in these illiquid investments. See this SEC Investor Alert about red flags to watch out for in unregistered offerings.
Recover Your Investment Losses Now With Rex Securities Law
Our Investigations of other David Lerner Associates brokers
If you have suffered investment losses in an account handled by Daniel Todd Lerner, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.