Eric Bernhard: Ex-David Lerner Advisor Faces Energy 11 Complaint

A recent investor complaint against former White Plains, New York financial advisor Eric Bernhard (CRD# 6574991) alleges that his advice resulted in damages. Financial Industry Regulatory Authority records show that he was most recently registered as a broker with NYLife Securities and is no longer registered with any FINRA member firm.

Mr. Bernhard’s BrokerCheck report discloses one investor complaint. Filed in October 2025, it alleges that as a representative of David Lerner Associates, he misled the customer into purchasing an investment in an Energy 11 limited partnership. The pending complaint alleges damages of $65,000.

For reference, Energy 11 LP and Energy Resources 12 LP were limited partnership investments sold by David Lerner & Associates. Both were formed to give investors an opportunity to invest in oil and gas properties. As Delaware limited partnerships, their objectives included the acquisition of producing and non-producing oil and gas properties; the payment of distributions to investors; and the completion of a liquidity transaction five years after the termination of the LP’s offering in April 2017. The prospectuses filed by both LPs described the investments as highly risky. “An investment in the Partnership involves risk,” each prospectus stated, “and is suitable only for persons who have adequate financial means, desire a relatively long-term investment and who will not need immediate liquidity from their investment.” In other words, investments in Energy 11 and Energy Resources 12 may have been unsuitable for investors with limited experience and/or financial means, especially retirees and other investors with liquidity needs and a low risk tolerance.

According to the Financial Industry Regulatory Authority, Eric Bernhard holds nine years of securities industry experience. Based in White Plains, New York, he was most recently registered as a broker with NYLife Securities from 2023 until 2025. His past registrations include Pruco Securities (Shelton, Connecticut; 2018-2022) and David Lerner Associates (Westport, Connecticut; 2016-2018). His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the General Securities Representative Examination, or Series 7. He is not currently registered with any broker-dealer firm. (Information current as of November 10, 2025.)

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