We serve ESOP legal counsel, trustees, and administrators with business valuation opinions, adequate consideration opinions, and fairness opinions. We also serve ESOP sponsor companies and sponsor company selling shareholders. In addition, we serve as independent valuation advisers and expert witnesses to the ESOP regulatory authorities. We are active in The ESOP Association and the National Center for Employee Ownership.

We serve ESOP legal counsel and ESOP trustees.
We are particularly well known for our independent financial adviser services with respect to ESOP formations and ESOP employer corporation stock acquisitions. As an independent financial adviser, we opine to the ESOP trustee as to whether the proposed purchase or sale of sponsor company securities is fair to the ESOP participants (from a financial perspective). Such fairness opinion analyses consider both the absolute fairness and the relative fairness of the proposed employer stock purchase or sale transaction.

We serve ESOP plan administrators and sponsor companies.
We provide annual sponsor company stock fair market valuations for ESOP administration purposes. These fair market value valuations are used by the sponsor company to make periodic employer stock contributions to the plan. And, these fair market value valuations are used by the ESOP to allocate shares to plan participant accounts, to redeem retiring plan participants, and for other administrative purposes.

We serve sponsor company selling shareholders.
An ESOP cannot pay more than adequate consideration to buy employer corporation securities. And, an ESOP cannot accept less than adequate consideration to sell employer corporation securities. Our transaction opinions analyze both the price and terms of a proposed employer stock purchase or sale transaction. Our transaction opinions provide assurance to the selling shareholders that they are receiving a fair market value price for the sale of sponsor company stock.

We serve ESOP regulatory authorities.
We have provided independent valuation consulting and valuation expert testimony services to both the Internal Revenue Service and the U.S. Department of Labor with regard to employer corporation stock value, transactional fairness, and ERISA compliance disputes.