Highlights of the Sep 28 issue:
  • Another big win for ESOP valuations vs. the DOL
  • Great turnout for the AAML/BVR National Divorce Conference
  • Take a fresh look at your long-term growth rate, says Grabowski
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Be the first to know about changes affecting the business valuation profession. The BVWire ezine brings you current news every Wednesday. From the buzz of the latest professional conference or the best new financial research resources, to the impact of last week's tax case or to this week's IRS, FASB or Appraisal Foundation announcement, BVWire guarantees you won't miss a thing. It's free, it's fast to read, and it contains everything you need to know about the evolving business valuation profession.

Please take a short survey on financial benchmarking data

BVR is conducting a very short survey (four questions) on the sources valuation analysts use for financial benchmarking data.

NACVA’s ‘super conference’ starts today!

At press time, BVWire is in Salt Lake City for the start of the first major conference of the year, the Business Valuation & Financial Litigation Hybrid & Virtual Super Conference hosted by the National Association of Certified Valuators and Analysts (NACVA).

Global BV News: Key consideration for global cost of capital

During the recent ASA New York Fair Value Conference, Mike N. Moskowitz and Tushar Shah, both with EY, discussed global valuations with an emphasis on the cost of capital.

BV movers . . .

David Breitegam, CPA/CVA, has been promoted to partner at Reading, Pa.-based Herbein + Co.

CPE events

Fair Value Measurement Auditing: The How To’s of MPF (A BVR Workshop), August 17, 10:00 a.m.-1:10 p.m. PT/1:00 p.m.-4:10 p.m. ET. Featuring: Nene G. Gianfala (Chaffe & Associates) and Marc Katsanis (Chaffe & Associates). CPE credits: 3.5.

Financial advisor’s book of business is not a marital asset

In a Tennessee divorce case, an appellate court affirmed the judgment of the trial court that the husband’s book of business as a financial advisor for UBS is not a marital asset.

Put ESG impact in numerator, not denominator

Currently, there is no empirical evidence to support including the impact of environment, social, and governance (ESG) factors in the cost of capital, so it should be reflected in the cash flows.

Pay it forward, urges NACVA’s Black

The future of the valuation profession depends on practitioners giving back to the profession.

Divorce Highlight: Forging the attorney-expert relationship

“One of the things I suggest to younger family lawyers is to make relationships with experts,” says Jay Fishman (Financial Research Associates) in a recent interview with Family Lawyer Magazine.

Global BV News: Continued slowdown in global equity capital market activity, per S&P Global

S&P Capital IQ released its mid-2022 summary of major global capital investment activity, which includes IPOs, SPACs, reverse SPACs, and the other usual categories.

BV movers . . .

Scott Womack, ASA, MAFF, who leads the Litigation Support and Forensic Services team at Memphis-based Mercer Capital, was invited and admitted into the prestigious American Academy of Matrimonial Lawyers (AAML) Foundation Forensic & Business Valuation Division.

CPE events

Fair Value Measurement Auditing: The How To’s of MPF (A BVR Workshop), August 17, 10:00 a.m.-1:10 p.m. PT/1:00 p.m.-4:10 p.m. ET. Featuring: Nene G. Gianfala (Chaffe & Associates) and Marc Katsanis (Chaffe & Associates). CPE credits: 3.5.

Delaware court cites studies of appraiser bias

Valuation experts who testify should not assume that the courts view them as independent parties who are advocates for their opinion rather than for the client.

Check out the speaker lineup for the ASA International Conference

A strong slate of speakers will make presentations in the business valuation tracks at this year’s International Appraisers Conference to be held October 24-26.

Corona is still the most valuable beer brand, per Brand Finance study

Corona has retained the No. 1 spot on the list of the world’s most valuable beer brands, according to “Beers 50 2022,” an annual report from Brand Finance.

New valuation credential planned for healthcare compensation

During a recent BVR webinar, Tim Smith (TS Healthcare Consulting LLC) told the audience that a new credential is in the works for valuing the compensation of healthcare providers (physicians, physician assistants, and nurse practitioners).

Third exposure draft of USPAP released

During a recent BVR webinar that gave an update on valuation standards and guidance, Jim Alerding (Alerding Consulting) noted that a third exposure draft of USPAP was issued July 26 (available if you click here).

NACVA releases updated comparison charts of BV standards

The different sets of U.S. business valuation standards are compared in an updated chart (click here) the National Association of Certified Valuators and Analysts (NACVA) released.

The Appraisal Foundation issues 2021 annual report

The following are a few items of particular interest to business valuers in The Appraisal Foundation’s annual report for 2021.

What to do when job candidates take their sweet time

You’ve found a promising candidate to fill that vacant analyst spot and made an offer—but you can’t get an answer.

Divorce Highlight: Something for everyone at the AAML/BVR Divorce Conference

The breadth of topics run from basic to complex at the 2022 AAML/BVR National Conference, which will be held on September 18-20 in Las Vegas.

Global BV News: RICS launches efforts to inspire young black professionals

Members of the London-based Royal Institution of Chartered Surveyors (RICS) recently spent some time with students at Virginia State University (VSU) and Morgan State University (MSU) in Baltimore, two prominent historically black colleges and universities (HBCUs).

Global BV News: Takeover premiums in Canada increased in the first half of 2022

The median takeover premium of Canadian public companies in the first half of 2022 was 40%, a 7% increase from the prior year, according to “Canadian M&A Insights” (Summer 2022) from Kroll.

BV movers . . .

Joe Lee, CFA, CPA, a former Duff & Phelps associate, and Ilya Vorobyev, CFA, who was previously an assistant vice president at PwC, have joined Valuation Research Corp. (VRC) as vice presidents.

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