Financial Advisor wanting Lehman and 750 for intro broker deal?

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by a searcher from University of Notre Dame
in Cambridge, MA, USA

3yrs ago

Financial Advisor wanting Lehman and 750 for intro broker deal?

Has anyone else run into things like this? I find it unethical. Be aware of this guy:

Thanks for contacting us.

You showed interest in Teaser Fab 5 - semiconductor business for sale. That deal is with another broker. To introduce you to them, we charge a $750 upfront fee and a Lehman's on the value of what ever you consummated.

Can I send you an invoice and Agreement to review? Give me a call.

All the Best,

Daniel Wood Managing Principal | CEO

redacted

1 Like

401 Views

reply by a searcher 3yrs ago
from University of Pennsylvania in Charlotte, NC, USA

What everyone else said. If anyone here would send $750 for an introduction no questions asked, please reconsider. And did anyone notice this supposed deal is a $7MM EBITDA manufacturing business with a 35% operating margin. Right. However, at least the website discloses that the deal is "non-exclusive" and that they charge a fee for introductions to the intermediary.

reply by a searcher 3yrs ago
from University of Pennsylvania in Indianapolis, IN, USA

As a proprietary search professional, I will sometimes come across a company that already has representation and will introduce it to my client as such so they can conflict check that they have or have not seen the opportunity from the broker.

That said, I have never marketed a listed opportunity as something I have originated. Re-marketing an already represented company that is actively being marketed for sale is unscrupulous - period. Trying to collect a nuisance fee up front AND a full Lehman for re-listing another group's proprietary deal is highly unethical.

Take the key listing description and pop it into Google and if it's a listed broker deal, you'll probably find the original listing and can go direct to the intermediary that has the sell-side mandate.