Outstanding Members Revisited—First Quarter 2025
NACVA's Oustanding Members—Revisited
Over the years, NACVA has recognized hundreds of members for their great service to the Association by awarding them Outstanding Member recognition. Their recognition is published in the Association News each quarter and we have been doing this since around 1994. Recently, a light bulb went on for the team at HQ thinking how interesting it would be to check in with our past Outstanding Members going back to when the Award started to see how their careers have unfolded. Because many deserving of the Award have moved over from their role in NACVA to make room for the next generation to rise and we would love to hear from them. Notwithstanding, many early recipients are still very involved and have become cornerstones in NACVA’s foundation of success.
Bob Turner has shared the following letter to bring us up to date on his life and career.
Bob Turner has shared the following letter to bring us up to date on his life and career.
Dear Parnell,
Greetings from Hilton Head, South Carolina.
I was inspired by Brien’s outreach to past outstanding members and by Tom Hilton’s letter. I too want to provide an update but also express my gratitude for your insight into the emerging valuation arena where I truly benefited.
I feel a little ancient having obtained the ripe old age of 78, being a NACVA member for 32 years, so long ago that my member number, which is hard to forget, is 11111.
My first litigated case occurred in 1987. My valuation went to the Court of Appeals twice and I was affirmed both times. I loved the challenge of the courtroom and was hooked.
If I was to pursue this niche, I felt I better figure out what I was doing. I took the AICPA course on valuations whose one day course on valuations was a book less than a half inch thick. At that time, in the olden days, the predominate valuation method taught and used in Cleveland was the Excess Earnings Method. Who knew what a discount for LOC or LOM was let alone support it. The industry has come a long way since then.
I noticed an ad in the Journal of Accountancy for a one-week training course in Salt Lake City. That was back in 1993. I was excited about the opportunity to learn more and to obtain the CVA Credential. This leap frogged my career in the valuation arena. I was one of the early credentialed professionals in Cleveland and the certificate helped me stand out.
I remember back to my first annual conference in Baltimore and many of us feared, but hoped, that NACVA would survive as the CVA was something that set us apart. Our wishes came true. NACVA is an association of members dedicated to the profession and early on many became involved. The list goes on and on of early contributors such as Tom, Mel, Bob, Rob, Nancy, Mark, James, Richard, Michael etc. Too many to count and I would hate to leave anyone out. A new generation has taken on the leadership roles, many of the old timers still contribute, much to the betterment of NACVA.
Much has been said about building your brand. New technology has provided a much better method of accomplishing this than back in the stone age. One thing attorneys love is the ability to piggyback on case law. To build my brand I started writing a newsletter “Valuation News You Can Use” rather than buying the newsletters sold off the shelf. This made it personal. I still recommend this as compared to today’s impersonal current blanket marketing techniques. I focused on Appellate decisions and Estate Tax Court decisions. I did not offer legal opinions, but provided insights into the valuation issues and attorneys took notice. I started getting more and more calls.
As my practice grew, I needed to hire. Someone approached me at the right time who wanted to explore this niche but had only performed three valuations over a two-year period. He became involved in more cases than that in his first two weeks and eventually became my partner. As we grew the practice, we were approached by four firms looking for us to merge with and create or build a department. We found a home that helped us grow even larger, in that we needed another hire. Now 38 years later, my small part time practice has now grown to over ten full time professionals and both of my first two hires thrive and lead the department. I guess I have a legacy to fondly look back on.
If I have a recommendation for our members, as many have wisely advised, first grow your brand, but then build a department. It will allow for the opportunity for greater marketing outreach, become more recognized and create the ability to take on larger cases.
Now I am at the sunset of my career and slowing down. My referral sources are ageing and now rely more on our other competent professionals. I retired as a stockholder from my firm 16 years ago at the age of 63 and moved from Cleveland to Hilton Head and remarried. Due to my niche, like Tom Hilton, I entered an arrangement with my firm based on a fee split basis for business I generated. Since retiring I have produced close to $3,000,000 of fees. Much of my work has been remote during this period, way before the days of ZOOM, and only returning to Cleveland on a needed basis. I do not accept all engagements and lately have only been focusing on, when possible, special cases, being a joint expert and/or in negotiated or mediation matters.
My greatest joy, since my golf game is going to pot, is my two daughters, a stepdaughter, five grandchildren, and yes, at my young age, two great grandchildren.
None of this would have been possible but for NACVA. I owe you a deep debt of gratitude for your vision 35 years ago. NACVA provided the training and the opportunity to grow and have a career, not just a job. This is something I truly still love. Because of this unique niche we all can, if we want, continue on part-time even after being remote and semi-retired.
THANK YOU
Till we see each other again.
Bob Turner
Robert Turner CPA, CVA, ABV, CFF
Greetings from Hilton Head, South Carolina.
I was inspired by Brien’s outreach to past outstanding members and by Tom Hilton’s letter. I too want to provide an update but also express my gratitude for your insight into the emerging valuation arena where I truly benefited.
I feel a little ancient having obtained the ripe old age of 78, being a NACVA member for 32 years, so long ago that my member number, which is hard to forget, is 11111.
My first litigated case occurred in 1987. My valuation went to the Court of Appeals twice and I was affirmed both times. I loved the challenge of the courtroom and was hooked.
If I was to pursue this niche, I felt I better figure out what I was doing. I took the AICPA course on valuations whose one day course on valuations was a book less than a half inch thick. At that time, in the olden days, the predominate valuation method taught and used in Cleveland was the Excess Earnings Method. Who knew what a discount for LOC or LOM was let alone support it. The industry has come a long way since then.
I noticed an ad in the Journal of Accountancy for a one-week training course in Salt Lake City. That was back in 1993. I was excited about the opportunity to learn more and to obtain the CVA Credential. This leap frogged my career in the valuation arena. I was one of the early credentialed professionals in Cleveland and the certificate helped me stand out.
I remember back to my first annual conference in Baltimore and many of us feared, but hoped, that NACVA would survive as the CVA was something that set us apart. Our wishes came true. NACVA is an association of members dedicated to the profession and early on many became involved. The list goes on and on of early contributors such as Tom, Mel, Bob, Rob, Nancy, Mark, James, Richard, Michael etc. Too many to count and I would hate to leave anyone out. A new generation has taken on the leadership roles, many of the old timers still contribute, much to the betterment of NACVA.
Much has been said about building your brand. New technology has provided a much better method of accomplishing this than back in the stone age. One thing attorneys love is the ability to piggyback on case law. To build my brand I started writing a newsletter “Valuation News You Can Use” rather than buying the newsletters sold off the shelf. This made it personal. I still recommend this as compared to today’s impersonal current blanket marketing techniques. I focused on Appellate decisions and Estate Tax Court decisions. I did not offer legal opinions, but provided insights into the valuation issues and attorneys took notice. I started getting more and more calls.
As my practice grew, I needed to hire. Someone approached me at the right time who wanted to explore this niche but had only performed three valuations over a two-year period. He became involved in more cases than that in his first two weeks and eventually became my partner. As we grew the practice, we were approached by four firms looking for us to merge with and create or build a department. We found a home that helped us grow even larger, in that we needed another hire. Now 38 years later, my small part time practice has now grown to over ten full time professionals and both of my first two hires thrive and lead the department. I guess I have a legacy to fondly look back on.
If I have a recommendation for our members, as many have wisely advised, first grow your brand, but then build a department. It will allow for the opportunity for greater marketing outreach, become more recognized and create the ability to take on larger cases.
Now I am at the sunset of my career and slowing down. My referral sources are ageing and now rely more on our other competent professionals. I retired as a stockholder from my firm 16 years ago at the age of 63 and moved from Cleveland to Hilton Head and remarried. Due to my niche, like Tom Hilton, I entered an arrangement with my firm based on a fee split basis for business I generated. Since retiring I have produced close to $3,000,000 of fees. Much of my work has been remote during this period, way before the days of ZOOM, and only returning to Cleveland on a needed basis. I do not accept all engagements and lately have only been focusing on, when possible, special cases, being a joint expert and/or in negotiated or mediation matters.
My greatest joy, since my golf game is going to pot, is my two daughters, a stepdaughter, five grandchildren, and yes, at my young age, two great grandchildren.
None of this would have been possible but for NACVA. I owe you a deep debt of gratitude for your vision 35 years ago. NACVA provided the training and the opportunity to grow and have a career, not just a job. This is something I truly still love. Because of this unique niche we all can, if we want, continue on part-time even after being remote and semi-retired.
THANK YOU
Till we see each other again.
Bob Turner
Robert Turner CPA, CVA, ABV, CFF
