As professional advisory firms consolidate, broaden services and increase leverage in their search for higher per principal profits, the welfare of clients are too often left behind. The devastation to business owners can be dramatic.
Range Corporate Advisors was founded to counter this trend; to provide the very best professional advice to medium and small busiensses with a compensation structure that is fair and manageable.
HERE is a NYT story of a owner managed business that hired Goldman Sachs as their M&A advisor. After a $5.0 million flat fee (plus success fees, we assume), they have lost everything.
The lawsuit is summarized as follows:
“The Goldman Four were unsupervised, inexperienced, incompetent and lazy investment bankers who were put on a transaction that in the scheme of things was small potatoes for Goldman.”
All business owners should consider that statement when they select their professional advisors and intermediaries. It is true far too often. Sometimes the “best” is the best, but often it is not.
Posted by Scott Sinclair, Range Corporate Advisors
Range Corporate Advisors provides multidisciplinary solutions to medium and small business requiring transitional, transactional or management assistance.