Full-Service Engagement Team Case Study

Challenge

A local banker, familiar with the industry expertise of the Real Estate and Construction Group at Skoda Minotti, was working with a trade contractor who was not satisfied with his current accounting firm. He felt that the firm was unresponsive and not providing him with proactive service. Additionally, the contractor had recently suffered through a down year in his business. This caused the contractor difficulties in obtaining the bonding that would be needed to be successful the following year.

The banker introduced the contractor to a professional at Skoda Minotti who had a great deal of experience working with trade contractors facing similar situations. Comfortable with the firm’s knowledge of the construction market, the contractor chose to work with Skoda Minotti

Solution

  • Prepared a certified year-end reviewed financial statement in which potential lenders could be confident.
  • Leveraged relationships to help the contractor secure bonding that would have otherwise been unlikely.
  • Introduced the contractor to a dedicated engagement team of Skoda Minotti professionals who could provide value added services in the future. Included among this team of professionals were members of the firm’s Financial Staffing Group and Financial Services Group.

Results

  • After obtaining bonding, the contractor secured significant project work and went on to have a very successful year.
  • When the contractor’s longtime controller retired, the Financial Staffing Group provided several candidates for the job – one of whom was hired for the controller position.
  • Skoda Minotti Financial Services Group conducted a review of the contractor’s life insurance policies. During this review, it was determined that beneficiary designations were outdated. This was brought to the contractor’s attention and corrected.

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