When a transaction gets announced, I noticed that the bankers and lawyers are typically the ones that get credit in the announcement. Why do they leave out the FDD and TDD people as well, when they are the ones keeping close and providing commentary on the ending structure and purchase agreement? Has this just always been industry standard? I’m fairly new to the industry so have always wondered why this is.

likefunny
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We do not allow ourselves to be named. We have more exposure than the bankers and lawyers. The average person doesn’t understand the role that we play in diligence and often it is said that we “audited” the financial information of the target when FDD/TDD is nothing at all like an audit.

likehelpful

Glad it also helped someone other than myself. That was my intention with this post since it hasn’t been discussed at my company nor have I seen discussions on it online.

When you buy a house, the real estate agent and mortgage broker gets all the credit. No one cares about the home inspector.

likehelpful

Still an integral part of the process but agreed

Bankers work way harder than FDD people do on a deal, including buyer sourcing, marketing materials, playing defense for the client, hand holding, u name it. They also make money contingent on deal closure so it makes sense for them to be the “loudest” upon closing. We make money regardless of the outcome of a proposed transaction.

likefunnyhelpful

Look at the banker and lawyer’s fees compared to fdd and tdd. We do not run the deals

funnylike

A lot of times our engagement letters have language not to include us in public announcements too. We prefer to be in the shadows.

likehelpful

Few bankers are that good in my experience but they love to pretend they are 😂

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