New ASA CEO faces a challenge

BVWireIssue #261-1
June 5, 2024

business valuation accrediting organizations
american society of appraisers (ASA), business valuation profession

The American Society of Appraisers announced that Lana Vukovljak will join as CEO and executive vice president on July 1. She will lead the group’s efforts to advance and serve its nearly 5,000 members and the broader valuation profession. In addition to business valuation, ASA members are appraisers in other disciplines, including real property, personal property, machinery and technical specialties, gems and jewelry, and appraisal review and management.

Vukovljak’s background is in association management and professional education. “I am eager to collaborate with our dedicated volunteers, members, and staff to uphold ASA’s commitment to providing top-notch education across all industry disciplines, ensuring excellence for all appraisers and those aspiring to pursue a career in appraisals,” she said in a statement.

Market share: The ASA has its work cut out for it in the business valuation market. It has the lowest market share in terms of credentialed business appraisers—about 1,500—compared with about 4,500 who have the ABV credential from the AICPA (an estimate that we feel is high, but the AICPA does not give out membership details). These two nonprofit groups have not seen much if any membership growth and face stiff competition from market leader NACVA, a for-profit business that offers the CVA credential and has been successful in growing its membership to over 6,500. Unlike the AICPA and the ASA, NACVA focuses exclusively on business valuation and litigation support (with some members in financial forensics). NACVA has also been good at attracting younger professionals and has the lowest age demographic of the three groups (an average age of 47).

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