Back in the good/bad old days of cash flow lends we really used to go down on those due diligence assignments, chalking up fees of £18k or £25k.
They were really useful for the lenders, particularly as it was the clients who paid. Some of the work that was done was a real benefit to the clients giving them a second opinion on their plans and strategies. Some of it was just for the lenders benefit, though.
We got some really good skills doing this work and it’s a shame they can’t be put to good use to give something to our clients.
We still use some of these skills in the work we do to help our clients transform their businesses. We routinely challenge our client’s strategy, operations, risk management and wealth planning. But what if you want something more in-depth? Does it mean many thousands of pounds in fees?
We don’t think so – we suggest a tailored assignment looking at specific matters, focusing on the important things. That way you can get that second opinion without it costing an arm and a leg.