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Former David Lerner Officer Leaves to Start New Firm

Former David Lerner Officer Leaves to Start New Firm

Former David Lerner Officer Leaves to Start New Firm 150 150 Rex Securities Law

March 21, 2012

The former chief compliance officer of David Lerner Associates, Inc. has formed a new firm, Cabot Lodge Securities, and has opened three offices in New York City and is opening a fourth in Boca Raton, FL.

Cabot has 20 advisers at the time, according to the Investment News, and plans to grow to 100 or 125 by the end of the year. Cabot promises a higher payout and an ownership interest in the firm. The firm will sell proprietary products like private placements, real estate programs, oil & gas programs as well as publicly traded and nontraded real estate investment trusts.

Albert Ackerman, Cabot’s CEO has extensive experience with Lerner. Lerner has sold over $6 billion of nontraded REITs to over 100,000 customers since 1992.

David Lerner and his company have recently been the subject of a FINRA investigation in connection with their REIT sales. More information on Lerner’s problems can be found here.  

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

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