Timothy R. Lee, ASA, Managing Director, is moderating an educational session on the importance of due diligence regarding financial projections at the ESOP Association’s 2017 Las Vegas ESOP Conference & Trade Show November 9 – 10.
Tim’s session is Evaluating Financial Projections as Part of the Diligence Process:
Management’s financial projections are a key input into the analyses underlying ESOP fairness opinions and annual appraisal reports. Furthermore, the DOL Process Agreement highlighted the importance of thoroughly evaluating management’s financial projections. This session will review methods and procedures that fiduciaries and valuation professionals can use to evaluate the reasonableness of projections as part of the valuation process. Furthermore, the panel will address the importance of obtaining sufficient industry-related information and/or employing outside experts when dealing with industry-specific nuances. Finally, panel will address the feasibility of a quality of earning (Q of E) report, and what alternatives may be available in connection with the financial due diligence process.
Phillip Chou, managing director at AmbroseAdvisors, and Erin Hollis, ASA, CDBV, director of Dispute Resolution & Litigation Support at Marshall & Stevens, Inc., will be co-presenters alongside Tim.
The ESOP Association, founded in 1978, the largest employer-sponsored advocacy and education association focused on retirement savings in America, is a national non-profit membership organization. The Association’s focus is on preserving and promoting employee stock ownership through the ESOP structure. Enhancing laws before Congress and regulatory agencies that govern ESOPs and providing its members with expert educational ESOP programming and information are its main concentrations.
Tim is the firm’s Managing Director of Corporate Valuation services and is a member of the firm’s board of directors. Tim also provides valuation and corporate advisory services for purposes including employee stock ownership plans, mergers and acquisitions, profit sharing plans, estate and gift tax planning and compliance matters, limited and general partnerships, corporate planning and reorganizations. In addition, Tim provides litigation support in cases involving dissenting shareholder rights, marital dissolution, tax matters, and other shareholder conflicts.
Mercer Capital’s ESOP Services
Mercer Capital understands ESOPs because we are an ESOP-owned firm. We provide annual appraisals for ESOP trustees, as well as fairness opinions and other valuation-related services for ESOP companies and financial institutions.
We bring over 35 years of valuation experience to every ESOP engagement. The stability of our staff and our long-standing relationships with clients assure consistency of the valuation methodology and the quality of analysis for which we are known and for which you deserve. ESOP services include:
- Annual ESOP plan valuation
- ESOP appraisal review
- ESOP feasibility valuation
- Fairness opinions
- Complex ESOP transactions
- ESOP dispute resolution
- ESOP sale or termination opinions
- ESOP second-stage transactions
