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The Trusted Advisor: Going beyond Expectations. For Good.

The Trusted Advisor: Going beyond Expectations. For Good.

A trusted advisor delivers benefits that make them sought out by decision-makers. They understand the challenges faced by their clients, from industry-specific features to unique day-to-day operational issues. He is a reliable, consistent and credible partner for his clients due to a collaborative approach on client challenges.

A trusted advisor is genuinely interested in and focused on their clients’ needs, standing out from other hired experts. While their knowledge must be broad enough to cover a wide range of potential client requirements, they must also have access to a deep bench of qualified backup talent to handle those areas where the advisor can enhance his or her services with additional expertise.  Short-term considerations or solving a single issue cannot be the drivers of the client/provider relationship. By making the relationship all about the long run, the trusted advisor proves his commitment to the client’s success and strengthens their bond.

Finally, trusted advisors must be passionate and enthusiastic about their work. That passion drives a commitment to ethics and integrity, all essential components of a good relationship. These qualities help guide the advisor to making the right decisions, both for the client and for society at large. Trusted advisors want to be relied upon for the quality of their expertise, their relationship to clients and their credibility in the market. They act in a transparent way with clients, ensuring that all business information is accurate and anything of concern is communicated quickly and clearly. If they show true commitment, the advisor can deliver services that go beyond the engagement terms, meeting higher expectations and fostering integrity in the marketplace.

How WeiserMazars Plays Our Part

WeiserMazars was recently retained to perform a tax structuring on a selling transaction. In order to better assess our client’s needs and business activities, we started working with their lawyers on tax issues. It rapidly became evident that the business had major flaws. Although the buyer was ready to purchase the business in that state, we believed that the time for the transaction was not right and that both parties would not get the most out of it. The business needed time to recover and be at a better stage before it could be sold at a good price.

As a result, we presented different options to our client, including advising them not to proceed with the deal because it was against every stakeholder’s best interest to do so.  Consequently, the client stopped the deal and chose to try to turn his business around. Although this mean that we lost the transaction engagement we were originally hired to perform, the client subsequently retained us to advise him on ways to finance the business moving forward. As a trusted advisor, our commitment to the client was not merely to provide tax structuring expertise, but to make sure that in the long run all stakeholders of the deal would be better off.

Jules Reich. Partner, Co-Chair of Financial Advisory Services. WeiserMazars.

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