Our building block approach to service is designed to provide flexibility, immediate access to the top level of expertise you need, and to leverage your valuable time and resources. All BD customers don’t have the same needs, so we don’t make you subscribe to a preconceived bundle of services. We provide customized services where you pay only for the services you want and need.
Certain needs can be known in advance, for example new and ongoing review of “shelf” product, but certain needs can not be estimated in advance. We can provide customized services using both fixed and variable cost components to accommodate all your research needs on a timely basis as they arise. We cover everything from a quick investment screening, asset reviews, program level and sponsor reviews, and everything in between. Each of these services, that can be pursued individually or packaged with other services, are further outlined below.
It can save a lot of time and expense to have us initially perform a screen on programs and their sponsors, to determine whether a full review is warranted. For screening we would agree in advance on a maximum amount of review time and quote a price on that basis. A screening is intended to identify bright red flags, trouble spots, adequacy of disclosures and overall risk assessment – the deal killers. Many clients use screenings to weed out deals before progressing with Miterko’s asset, program and/or sponsor levels of due diligence.
Frequently used services include: property inspection, comparable property analysis, interview site managers and City Planners, demographic assessment, and review of key asset and acquisition documents (appraisal, environmental reports, purchase/sale, title, escrow conditions, and other related legal documents). This can be a customized service.
Typical services include: review of material legal documents related to the investment vehicle itself (formation, management, operation and financial condition). Attention is focused on sensitive areas like compensation, conflicts of interest, manager removal provisions, investor democracy rights and affiliated transactions.
This is truly our specialty and we enjoy wide industry recognition of our specialized expertise and approach in this area. We conduct comprehensive reviews of both qualitative and quantitative aspects. We strongly believe that one of the most important facets of a review is to follow money through the company from cradle to grave on a sample basis: the handling of investor deposits to the final distribution and every step in between. This is done for purposes of a) confirming accuracy of disclosures in the offering material and b) understanding the adequacy and consistent implementation of stated controls and procedures needed to protect investor funds. No one else does it like us and we have decades of experience!
Typically includes financial statement and ratio analysis, projected vs. actual performance, calculation of estimated liquidation values, asset and market comparisons. We review 10K, 10Q and 8K filings, annual reports, tax returns and perform background checks and proxy reviews. This service can be tailored to fit your needs.
We can perform everything in review scope from a desktop to a full-blown review, including site visits. Normally we review offering and marketing material, Forms ADV, performance, regulatory filings, AIMR compliance and perform independent background checks, and as always, our expert site visit and audit process.
We conduct comprehensive reviews of firms suspected of mishandling funds to verify use of proceeds (asset acquisition and timing). We have been successful in many cases at documenting securities law violations, identifying assets or funds diverted inappropriately, and in some cases prevented these sponsors from receiving and risking additional investor money, and have had appropriate regulatory action taken. Our intuitive, process-driven approach leaves no stone untouched.
We check for compliance against existing regulations and procedures or can assist in the creation of written procedures, always proactively offering suggestions for improvement. All operating businesses can benefit from objective, independent reviews of procedures and assessment of consistent implementation.
Litigation Support and Avoidance
Minimize exposure by using quality due diligence on each sponsor, RIA and securities offering before placing client funds, and by monitoring the investment over time. We provide expert witness testimony, assistance in preparing for arbitration, depositions or trials. Leverage your resources with our network of legal resources.
An investment is only as good as the people that manage and control it. We routinely use private investigators and other sources to check and verify critical information on key individuals and entities.
The due diligence process does not have to be a negative one! Our proactive approach allows us to work together with Broker Dealers and sponsors – to create win/win scenarios that also ultimately benefit investors. Sponsors: we offer positive recommendations designed to improve acceptance in the Broker Dealer community without excessive cost or unduly impacting the operation of your business. Broker Dealers: our recommendations and conclusions are designed to enhance the quality and safety of investment products and sponsor operations for the benefit of you, your reps and investors.
Broker Dealer or sponsor-oriented merger and acquisition research including business valuations, business valuation confirmation and risk assessment analysis.