David M. Braunstein

SAPERSTON LEGACY ADVISORS

Hamburg, NY 14075

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CRD#: 831683

Professional summary

David Mark Braunstein is a registered financial advisor currently at SAPERSTON LEGACY ADVISORS, INC. located in Hamburg, New York.

David is registered as an IAR (Investment Advisor Representative) and started their career in finance in 1977. David has worked at 9 firms and has passed the Series 65, Series 63, SIE, PC and Series 7 exams.

Question & Answer

Are you a "fiduciary"?

Yes

Aliases

None

Other business activities

Outside business activity is any business or activity undertaken by an advisor that is outside the scope of their relationship with their firm (e.g., consulting services, real estate, freelance work, teaching, etc.). Investors should stay informed about these activities to ensure no conflicts of interest.

The advisor shows no other business activity.

Blog Corner

CRS (Client Relationship Summary) - RIA

Click below to view David Mark Braunstein's CRS (Customer Relationship Summary).

CRS (Customer Relationship Summary)

Certified licenses

Advisors may have various certifications and credentials from different organizations. AdvisorCheck highlights these seven certifications - AIF®, CFP®, ChFC®, CFA, CLU®, CIMA®, CPWA®

None

Experience

Current

November 6, 2025 - Present

SAPERSTON LEGACY ADVISORS, INC.

Office #1: 172 Lake Street, Hamburg, NY 14075

RIA

CRD#: 105849

Hamburg, NY

Past

August 25, 2025 - December 31, 2025

BRIGHTON SECURITIES CORP.

RIA

CRD#: 3875

Hamburg, NY

Past

October 4, 2018 - December 31, 2025

BRIGHTON SECURITIES CORP.

CRD#: 3875

Hamburg, NY

Past

May 6, 1998 - October 29, 2018

SAPERSTON ASSET MANAGEMENT, INC.

CRD#: 44379

HAMBURG, NY

Past

October 16, 1997 - May 5, 1998

LASALLE ST SECURITIES, L.L.C.

CRD#: 7191

ELMHURST, IL

Past

July 16, 1993 - October 16, 1997

SAPERSTON FINANCIAL INC.

CRD#: 27863

BUFFALO, NY

Past

July 11, 1988 - June 28, 1993

GLEACHER & COMPANY SECURITIES, INC.

CRD#: 298

NEW YORK, NY

Past

February 22, 1982 - July 13, 1988

LEHMAN BROTHERS INC.

CRD#: 7506

Past

May 18, 1981 - March 11, 1982

THOMSON MCKINNON SECURITIES INC.

CRD#: 829

Past

October 17, 1979 - May 10, 1981

LEHMAN BROTHERS INC.

CRD#: 7506

Past

January 3, 1977 - October 18, 1979

FIRST JERSEY SECURITIES, INC.

CRD#: 6621

Primary Firm SEC Registration

This SEC-registered firm can serve clients nationwide. Some states may require the firm to submit a notice filing if the firm has more than 5 clients or a physical office there. You can view these state-level filings under the section titled "State Registrations and Notice Filings".

SAPERSTON LEGACY ADVISORS, INC.

SAPERSTON LEGACY ADVISORS, INC. | WILLARD B SAPERSTON, INC.

CRD#: 105849 / SEC#: 801-121038

RIA

Registered Investment Advisory firm - (5/4/2021 Approved)

New York

Registered Investment Advisory firm - (6/8/2021 Terminated)

Why is a state registration marked "Terminated"? When a firm registers with the SEC (usually after managing $100M+ AUM), it often withdraws separate state firm registrations unless required by that state. The firm can still serve clients there through its individually registered Investment Advisor Representatives (IARs).

State Registrations and Notice Filings

Listed states reflect where the advisor is authorized to serve clients under state regulations.

IAR

means the advisor is registered as an Investment Advisor Representative in this state and is authorized to provide investment advice to clients there.

Highlighted states indicate IAR registrations

IAR

New York
(11/6/2025)

Don't see your state listed? The advisor may still be able to work with you under the federal De Minimis Rule, which allows up to five investment advisory clients in a state without registration. Some states, like TX, LA, NE, and NH, may still require registration or notice filing. Contact the advisor or their firm to confirm their investment advisory availability in your state.

Exams

State Security Law Exam

IAR

Series 65

Date: 8/22/2025

Uniform Investment Adviser Law Examination

State Security Law Exam

Series 63

Date: 1/26/1980

Uniform Securities Agent State Law Examination

General Industry/Product Exam

SIE

Date: 10/1/2018

Securities Industry Essentials Examination

General Industry/Product Exam

PC

Date: 3/1/1980

AMEX Put and Call Exam

General Industry/Product Exam

Series 7

Date: 12/18/1976

General Securities Representative Examination

Current Firm

SAPERSTON LEGACY ADVISORS, INC.

SAPERSTON LEGACY ADVISORS, INC. | WILLARD B SAPERSTON, INC.

CRD#: 105849 / SEC#: 801-121038

RIA

Registered Investment Advisory firm - (5/4/2021 Approved)

New York

Registered Investment Advisory firm - (6/8/2021 Terminated)

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Contact information

Main Address

172 Lake Street, Hamburg, NY 14075

Mailing Address

Phone number

(716) 649-9800

Established

Firm type

Fiscal year end

# of Employees

SEC notice filing (10 States and Territories)

Documents

Customer Relationship Summary (CRS / SEC)

Latest Form ADV

Part 2 Brochures

SAPERSTON LEGACY ADVISORS, INC. FIRM BROCHURE (3/25/2025)

Regulatory assets under management

Total Number of Accounts	121
AUM (Assets Under Management)	$ 56,919,495

Accountant surprise examination report

Filing Date	Form ADV-E Cover	Form ADV-E Report
01/27/2025	Cover Page	Report
07/26/2023	Cover Page	Report

Red Flags

Disclosures can be potential red flags, including customer disputes, regulatory fines, employer terminations, bankruptcies, judgments, liens, or certain criminal activities.

Check for any disclosures as part of your thorough research when choosing an advisor.

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David M. Braunstein

Professional summary

Question & Answer

Aliases

Other business activities

Blog Corner

CRS (Client Relationship Summary) - RIA

Click below to view David Mark Braunstein's CRS (Customer Relationship Summary).

Certified licenses

Experience

BRIGHTON SECURITIES CORP.

BRIGHTON SECURITIES CORP.

SAPERSTON ASSET MANAGEMENT, INC.

LASALLE ST SECURITIES, L.L.C.

SAPERSTON FINANCIAL INC.

GLEACHER & COMPANY SECURITIES, INC.

LEHMAN BROTHERS INC.

THOMSON MCKINNON SECURITIES INC.

LEHMAN BROTHERS INC.

FIRST JERSEY SECURITIES, INC.

Primary Firm SEC Registration

SAPERSTON LEGACY ADVISORS, INC.

State Registrations and Notice Filings

Exams

Series 65

Date: 8/22/2025

Series 63

Date: 1/26/1980

SIE

Date: 10/1/2018

PC

Date: 3/1/1980

Series 7

Date: 12/18/1976

Current Firm

SAPERSTON LEGACY ADVISORS, INC.

Contact information

SEC notice filing (10 States and Territories)

Documents

Part 2 Brochures

Regulatory assets under management

Accountant surprise examination report

Red Flags

Company Information

SAPERSTON LEGACY ADVISORS, INC.

TRUST BUT VERIFY

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