Assessing the Engagement Prospect In this article, the author shares how he crafted an engagement letter that enabled him to earn far more than a fee he was prepared to accept. Understanding a prospect’s motivation and the underlying facts enabled him to craft an engagement letter that worked for both and earned him $10,000 more. By listening to my prospect and understanding the pain he was in, I crafted an engagement letter with three pricing options that provided the solution he needed. It resulted in me getting a $10,000 higher fee based solely on my report delivery date. Quick Background…
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If you are on a quest to find the career of your dreams, look no further. Take control of your career with these four tips from Mark Astrinos, CPA, PFS, who shares how he built a career in financial planning as a CPA and emphasizes the need to follow your passion. Be sure to check out this new hub with free guidance, tools and resources to learn more about how you can start or expand your services to individual clients. To read the full article in AICPA Insights, click: Four Ways to Jump-Start the Career You Really Want.
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UConnect v. Facebook Showed How 409A Valuations Can Destroy Value. Here’s What Shareholders and VCs Need to Know—and Some Ideas About How to Better the Situation. Lorenzo Carver previously explained how 409A valuations destroy value for shareholders receiving grants, and provided a case study of how this all played out in UConnect v. Facebook. In this final article in a three-part series, Carver presents us with thoughts on who pays the price when a valuation is overvalued, what some of the causes of today’s status quo are and some specific suggestions on practices our industry might adopt to fix the…
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The Winklevoss Twins Realized Too Late the Value They’d Agreed to for Their Common Shares of Facebook. Here’s How it Played Out. Last week Lorenzo Carver introduced the topic of how 409A valuations destroy value for some shareholders. Today’s piece is a case study in how a wide disparity in value estimates largely created by the 409A process played out in the UConnect v. Facebook lawsuit.
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Why Built-up Volatility Rates Produce Better Value Indications In part one of a three-part series, Lorenzo Carver explains how the interaction between auditors and valuation professionals during dual-purpose 409A valuations of common stock and employee stock options destroys value for hundreds of thousands of employees receiving stock options every year by granting options at strike prices that are above the fair market value of the underlying common stock.
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In Silicon Valley, a Culture Clash Sullies a Romance Steven M. Davidoff reports on the New York Times DealBook blog: Private equity has broken venture capital’s heart, and V.C. is not taking it well. The romance ended when Silver Lake, the private equity firm, agreed to sell Skype to Microsoft. Silver Lake is estimated to be pocketing more than $4 billion from the sale. This would normally be a joyous event for Skype’s employees as they too share the wealth. But it is nothing of the sort. The venture capital community appears to be up in arms…