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Discounts for Lack of Marketability (DLOM) Workshop

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

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Arrow How You Will Benefit Arrow Pricing and CPE
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Simplifying the Process to Increase Your Confidence

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 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

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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.

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 To register, select the date and location you would 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 21, 2019 San Diego, CA Register Online Now 9/30/2019 10/31/2019
  December 12, 2019 Ft. Lauderdale, FL Register Online Now 10/31/2019 11/30/2019
Courses generally begin at 8:30 a.m. and conclude at 5:15 p.m.  
 One-Day Live Online Broadcast Schedule  
            Early Registration Discounts
and Deadlines
Dates   Broadcast Location   10% 5%
November 21, 2019 San Diego, CA Register Online Now 9/30/2019 10/31/2019
December 12, 2019 Ft. Lauderdale, FL Register Online Now 10/31/2019 11/30/2019

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.

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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—Live Classroom or Live Online Broadcast
Delivery Method Group-Live or Group Internet-Based
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.             

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