Has anyone used Buy-Side Brokers / Advisors in their search?

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December 07, 2020

by a searcher from Georgetown University in Waterloo, ON, Canada

This has been asked a few times, but not answered with any cases as of yet.

Would love to hear about outcome or any experience with using buy-side advisory. I can see the advantages in what they pitch. But wanting to know a bit more first-hand experiences.

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commentor profile
Reply by a searcher
from Western State University College of Law in Calcutta, OH 43920, USA
I agree with Alexander and Matthew's points. For a self-funded searcher, there are worthwhile buy-side brokers/advisors out there. I have found some in niche markets that are willing to generate proprietary leads and filter public leads using criteria that we have worked together to create. The nominal monthly fee they charge is well worth the time saved and additional deal-flow, in my humble opinion. My additional advice would be to establish a solid relationship with the broker/advisor before retaining their services. If they are unwilling to invest some time up front in getting to know you and your search, they are probably not the right choice.
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Reply by a searcher
from Dartmouth College in Boston, MA, USA
Value really depends on the broker - there is a wide spectrum of quality. If you use someone good they should be able to bring you proprietary deals which is obviously valuable. Most "buy side" broker offerings are essentially scraping deals that are publicly available, however, which in my opinion is a waste. If you're considering hiring someone, make sure to ask them what exactly they're going to do. The answer should include some combination of cold-calling / mining their own contact list for off-market opportunities.
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