Spirit of America Management provides portfolio management for individuals and small businesses and portfolio management for investment companies.
Spirit of America Management reports 21 clients. They include 20 individuals and 1 investment company. Of its assets, 100.0% ($540M across 21 accounts) are managed with discretion. A wrap fee program the firm both sponsors and manages holds $5.3M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 95% | <1% |
| Investment companies | 5% | 99% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 20 | $5.3M | 1.0% | $265K |
| Investment companies | 1 | $535M | 99.0% | $535M |
| Total | 21 | $540M | 100% | $25.7M |
- Clients
- 20
- Regulatory AUM
- $5.3M
- AUM share
- 1.0%
- Avg. per client
- $265K
- Clients
- 1
- Regulatory AUM
- $535M
- AUM share
- 99.0%
- Avg. per client
- $535M
Total
- Clients
- 21
- Regulatory AUM
- $540M
- AUM share
- 100%
- Avg. per client
- $25.7M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
Spirit of America Management is paid through a percentage of assets under management; its fees and minimums are set out in its brochures on the SEC website.
David Lerner owns 75% or more of Spirit of America Management. The leadership team of Spirit of America Management includes President David Lerner and Chief Compliance Officer Joseph Pickard. It has 35 employees, 32 of them in advisory roles.
Leadership
- David LernerPresident;director
- Joseph PickardChief Compliance Officer
- Alan ChodoshTreasurer
Investment adviser representatives
14 representatives listed in the SEC register as of 9 October 2026.
- Nolan Crean
- James Michael Ezegelian
- Ronald Ian Ganz
- Jonathan Bruce Hurwitz
- Peter Stephen Isler
- Patricia Gowan Klein
- Rafael Scott Klein
- Sergey V Kovalev
- Michal Lacheta
- John Maurice Lamont
- Ronald Lewis Morse
- Michael Joseph Norton
- Angelo Strazzera
- Maxim Tulupnikoff
Staff
- 35 employees
- 32 in advisory functions
- 12 state-registered reps
- 33 broker-dealer reps
- 28 insurance agents
- 1 soliciting firm
- Owns 75% or more of Spirit of America Management Corp
David Lerner
Control person · since May 1997
Spirit of America Management’s regulatory assets fell from $611M (February 2021) to $540M (January 2026); clients fell from 34 to 21 and employees from 48 to 35.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| January 2026 | $540M | 21 | 35 | 5 |
| February 2025 | $585M | 43 | 36 | 5 |
| January 2024 | $569M | 40 | 39 | 5 |
| March 2023 | $576M | 45 | 43 | 5 |
| February 2022 | $689M | 43 | 43 | 5 |
| February 2021 | $611M | 34 | 48 | 5 |
Besides its headquarters, Spirit of America Management has 4 offices, with 5 listed addresses across 4 states.
New York · 2 listed addresses
- 477 Jericho Turnpike, SyossetHQ
- 599 West Hartsdale Ave., White Plains
Connecticut · 1 listed address
- 1221 Post Road East, Westport
Florida · 1 listed address
- 568 Yamato Road, Boca Raton
New Jersey · 1 listed address
- 134 Franklin Corner Road, Lawrenceville
Other business names
Spirit of America Management has reported 1 other business name to the SEC.
- Soa Premier Assets
Contact and registration details
- Legal name
- Spirit of America Management Corp
- Headquarters
- 477 Jericho Turnpike, Syosset, NY 11791-9006
- Website
- Not reported
- Phone
- 516-921-4200
- SEC file
- 801-54782
- Structure
- New York corporation
- Fiscal year end
- December
Spirit of America Management uses RBC Capital Markets ($5.3M) as custodian for its separately managed accounts. Spirit of America Management does not have custody of client assets.
- RBC Capital MarketsRBC Capital Markets, LLC · Minneapolis, MN · $5.3M100%
At year end, Spirit of America Management’s separately managed accounts were mostly in funds (100%).
What the accounts hold
- Funds100%
How many clients does Spirit of America Management have?
Spirit of America Management has 21 clients and manages $540 million for them, as of January 2026. They include 20 individuals and 1 investment company.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 23 January 2026
What services does Spirit of America Management offer?
Spirit of America Management provides portfolio management for individuals and small businesses and portfolio management for investment companies.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Spirit of America Management use?
Spirit of America Management’s separately managed account assets are held at RBC Capital Markets, LLC (Minneapolis, MN), with $5.3M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 23 January 2026
How many financial advisors does Spirit of America Management have?
Spirit of America Management has 12 investment adviser representatives registered with state securities authorities, out of 35 employees, and 32 perform investment advisory functions. 33 employees are registered representatives of a broker-dealer and 28 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Spirit of America Management invest in?
At the end of its last fiscal year, Spirit of America Management’s separately managed accounts held 100% registered funds (mutual funds, ETFs, BDCs).
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Spirit of America Management?
Spirit of America Management’s direct owner is David Lerner (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 23 January 2026
How does Spirit of America Management get paid?
Spirit of America Management is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Spirit of America Management registered with the SEC?
Yes, Spirit of America Management has been registered with the SEC as an investment adviser since 6 August 1997. Its CRD number is 110023 and its SEC file number is 801-54782.
Source: Form ADV Part 1A, Item 1, filed 23 January 2026; IAPD firm record
How do I contact Spirit of America Management?
Spirit of America Management’s main office is at 477 Jericho Turnpike, Syosset, NY 11791-9006. Its phone number is 516-921-4200.