New Member Benefit: Mentor Support Exchange—Third Quarter 2021

Brien K. Jones
Chief Operations Officer and Executive Vice President of Business Development 

Since launching the MSX in June, NACVA has fielded dozens of requests and connected several mentors with mentees to help guide them through a variety of obstacles. Even highly experienced practitioners are seeking guidance on issues, which was the hope behind creating this robust initiative—to provide support services to all our members, no matter where they are in the profession.

 

“For the last two years, NACVA has been developing the most comprehensive program for member mentor support ever seen in our profession, but likely in any profession,” said Parnell Black, CEO of NACVA. “We know teamwork is key to a successful enterprise, a successful career, and a successful life. It will keep you in business in difficult times and help you thrive in good times. We believe that no other association offers a more in-depth program of peer support for its members.”

We have been actively recruiting mentors to join the MSX and have more than 50 mentors who have enrolled in the program. We plan to double this number in an effort to increase our global reach and better assist our members who are seeking advice on questions that encompass the entire spectrum of business valuation and litigation support services.

NACVA has identified seven areas and ways to assist our members’ needs, which include one-on-one advice, a question-and-answer forum, coaching for those new to the field, referral support from preferred providers for large projects, inquiries related to professional standards, software and database support, and a peer review service for report writing. Access to these seven areas, along with descriptions of their offerings can be found below.

1. Mentor Directory: The Mentor Directory is a searchable online tool where members can connect with qualified and credentialed mentors that have broad experience in valuation and litigation consulting services. The directory includes a list of categories and specialty areas and provides a way to directly contact mentors whose expertise match the mentees needs.
   
   To join the Mentor Directory as a mentor, complete a Mentor Application.
    
2. Q&A Forum: The Q&A Forum is comprised of highly experienced and credentialed moderators that provide responses to a range of questions submitted by our members. These members can expect intelligent and thoughtful advice that will steer them down the right path. Questions and answers are placed in a Frequently Asked Question (FAQ) library to serve as a growing reference source for the entire membership. 
   
   To submit a question to the Q&A Forum, fill out a Question Submittal Form.
   
   To join the Q&A Forum Moderator team, complete the Q&A Forum Moderator Application. 
    
3. Candidate Coaches: We have recruited a team of Candidate Coaches to assist new Certified Valuation Analyst (CVA) candidates in completing their required Case Study. This process requires the candidate to perform a business valuation based on a sample Case Study provided by NACVA. The challenge in completing the valuation report is getting over the many hurdles and decisions the candidate will confront throughout the valuation process and drafting the report. Only seasoned veterans in the valuation profession can qualify to be a Candidate Coach. 
   
   To request a Coach, fill out a Candidate Coach Request Form.
   
   Application and criteria to be a Coach.
    
4. Firm Sponsorship: We have partnered with carefully selected firms that offer various specialties and types of support that members can use/contract with to help secure engagements to build stronger client relationships. Some reasons why members might want to utilize a NACVA approved Firm Sponsor are: 1) the client’s needs are beyond the scope of the member's services and/or staff resources; 2) the member is dealing with a client conflict that warrants using an outside party to maintain objectivity; 3) the size of the engagement is outside the staffing capabilities of the member or their firm; 4) the complexities of the engagement lend itself to a broader team with specific knowledge and skills with whom the member can discuss issues and obtain advice and support; and 5) the member has concerns that the engagement might expand in scope and/or complexity and they want to be prepared. 
   
   To become a Firm Sponsor, fill out a Firm Sponsorship Application.
    
5. Standards Q&A Hotline: The Standards Q&A Hotline is comprised of highly experienced and credentialed moderators, who are serving on NACVA’s Standards Board. Our members can expect knowledgeable and thorough responses to standards related questions. The Standards Board reviews moderators responses prior to being placed in NACVA's Standards FAQ library, which will serve as a growing reference source for answers to standards related questions for the entire membership.
   
   To submit a Standards related question, fill out a Standards Question Submittal Form.
   
   To join the Standards Q&A team, complete the Standards Q&A Moderator Application. Having previously served on NACVA’s Standards Board is a prerequisite.
    
6. Database & Software Support: NACVA’s Database & Software Support partner ValuSource has been providing valuation data and software for over 30 years to thousands of CPAs, valuators, and financial professionals worldwide. ValuSource provides technical support for all NACVA's database and software products for all active subscription holders. 
   
   For Database & Software support, click here.
    
7. Report Peer Review: NACVA has the profession’s first and only business valuation Report Peer Review service where practitioners can submit their report to be reviewed in a roundtable setting by a team of experienced valuators. Reports are reviewed with particular emphasis centered on whether or not the critical elements of the report are sufficiently addressed and meet professional standards, while also identifying strengths and weaknesses of the report plus overall readability and persuasiveness.
   
   To submit a report to be reviewed, complete a Report Review Submission Form.

These seven areas will help our members share knowledge and ideas, aid less experienced practitioners in gaining expertise and building their professional network, and facilitate opportunities to share referrals and grow their businesses. We are very excited to be able to offer this complimentary benefit to our entire membership.

NACVA invites its members to participate in this ground-breaking, career-building, lifeline to the business valuation and financial litigation communities.
 
To express your interest in any of the seven areas listed above and to join the MSX program, please complete the above linked applications in ares of which you are interested. To obtain mentor services, go to NACVA’s Practice Support Headquarters website.