Online Directory | NACVA Site Search:

Discounts for Lack of Marketability (DLOM) Workshop

Consultants' Training Institute
Co-Sponsored by the National Association of Certified Valuators and Analysts® (NACVA®)

Arrow Program Description Arrow Live and Online Schedule REGISTER NOW
Arrow How You Will Benefit Arrow Pricing and CPE
Arrow Who Should Attend    

The calculation of discounts for lack of marketability (DLOM) can be a complex, confusing task. In this workshop, we will help attendees simplify the process and increase confidence in performing their calculations by exploring the studies, databases, models, and methods used in the DLOM process.

The main feature of this workshop will be the presentation (by the authors) of the new Valuation Products and Services (VPS) Discount for Lack of Marketability Guide, along with detailed case studies. The new models include the VPS Restricted Stock Study Quintile Calculator (RSQC), which enables the user to adjust for differences in risk/volatility, holding periods, dividends, and Mandelbaum-type factors. The case study will also include a comprehensive look at various calculators, models, and templates.

The workshop will cover an examination of legacy restricted stock benchmark, pre-IPO studies, inspect analytical methods, and several well-known databases, including: FMV Opinions detailed restricted stock database, Pluris detailed restricted stock database, and Valuation Advisors detailed pre-IPO database.

How You Will Benefit
After completing this workshop, attendees will be able to:

  • Incorporate the use of the DLOM Guide within valuation engagement management
  • Apply the various option calculators and other models and templates, including: VPS Restricted Stock Study Quintile Calculator (RSQC), Black Scholes/Chaffe Calculator, Finnerty Calculator, Ghaidarov Calculators, Longstaff Calculator, QMDM Template, Quantitative Methods Comparison Template, Illiquidity Premium Calculator, and C Corporation Equivalent Dividend Yield Calculator
  • Identify and understand the various legacy restricted stock benchmark studies
  • Differentiate among the most well-known restricted stock and pre-IPO databases, including: FMV Opinions, Pluris, and Valuation Advisors
  • Learn how to use and support the QMDM
  • Compare and contrast the various option pricing models, including: Black-Scholes/Chaffe, Longstaff, Finnerty, and Ghairdarov
  • Evaluate various analytical methods, including: Wruck; Hertzel and Smith; Bajaj; Abbott; Ghairdarov; Katsanis; LEAPS; NERA CAPM and Mandelbaum-type analyses
  • Assess the IRS DLOM Job Aid—Discount for Lack of Marketability Job Aid for Valuation Professionals

Back to Top

Who Should Attend

Newly credentialed business valuators who have obtained their valuation certification (CVA, CBA, ABV, ASA, etc.) in the last three years, and those who perform less than five valuations per year interested in advancing their valuation skills and developing new business opportunities.

Back to Top

 To register, select the date and location you'd like to attend and click the "Register Online Now" button for our online event registration. Contact Member/Client Services at (800) 677-2009 for questions or registration assistance.

 One-Day Live Classroom Schedule  
          Register Early and SAVEEarly Registration Discounts
and Deadlines
  Dates Location   10% 5%
  November 15 San Diego, CA Register Online 9/30/2018 10/31/2018
  December 13 Ft. Lauderdale, FL 9/30/2018 10/31/2018
 One-Day Live Online Broadcast Schedule  
            Early Registration Discounts
and Deadlines
Dates   Broadcast Location   10% 5%
November 15 San Diego, CA 9/30/2018 10/31/2018

Courses generally begin at 8:30 a.m. and conclude at 5:15 p.m.

This workshop is paperless (except printed book). Attendees will be provided a link to course material that will be used during the course, so attendees will need a laptop with Internet access.  The CTI will provide electric power and Internet access, but will not provide laptops.  Attendees are encouraged to bring their own mobile wireless modem or hotspot device.

Back to Top

Pricing (Before Early Registration Discount) Non-Member Member
One-Day Live Classroom or Online Broadcast  (8 Hrs CPE) $650 $585
Required BookRequired Book—Discount for Lack of Marketability Guide
 (Price added to registration fee. Book will be distributed at workshop or shipped before broadcast.)
$150 $150

CPE Hours
Delivery Method Group-Live
Program Level Advanced
Advanced Preparation None
Prerequisites Accredited practitioners with good knowledge of topic and experience in the field.
  Accounting 4
  Auditing 4
Total CPE Hours   8

For more information regarding CPE, Program Levels, and Fields of Study, please click here.             

Back to Top