Confidentiality is Our Priorityand Our Fiduciary Responsibility
Our approach begins and ends with two concepts that permeate through all of our company’s pursuits and endeavors: confidentiality and fiduciary responsibility. The role of a Transaction advisory, just like any other professional advisory service, depends on these two notions in order to fulfill our client’s needs.
Confidentiality has been defined by the International Organization for Standardization (ISO) as “ensuring that information is accessible only to those authorized to have access”. The importance of confidentiality before, during and after a business sale cannot be overstated. It is the most important component to the successful sale of a business. The ramifications associated with making the sale of a business public knowledge could affect customers (taking their business elsewhere), employees (looking for another job), competition (pursuing your customers more aggressively), suppliers (eliminating credit, demanding cash for deliveries), landlord (potentially seeking new lease terms) and creditors (calling) causing a negative impact on the operations and the overall marketability of the firm.
Empire prides itself on maintaining a high level of confidentiality throughout the sales process. The groundwork for our business model and success is established by a confidential process that fosters trust and the efficient exchange of sensitive information. We accomplish this by Executing a Non-Disclosure Agreement between Empire and every company or individual we work with binding us from disclosing any information that we learn from any discussions and utilize advertisements that give no reference to details that could help anyone identify your company as a sales prospect.
Each buyer must also sign a Confidentiality Agreement before a business is disclosed, further binding them from divulging any and all information regarding your company or its sale.
Maintain confidentiality with in all marketing or communications related to your firm or its sale
We will not publicize closed transactions unless given clear, written consent by both parties
“A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.”
-Bristol & West Building Society vs. Mothew, 1998
Empire maintains that each professional act in a manner that correlates with the best interests of the client. This responsibility directs the actions of the advisor in matters dealing with any information regarding the client’s business, including its sale. Any advisor upholding fiduciary responsibility is expected to preserve loyalty, confidence, good faith, dependability and trust to the person to whom the duty is owed; the advisor must not put personal interests before this duty.
Empire is founded on a strict code of ethics that includes confidentiality, honesty, and follow through. As transaction advisors, we are hired by business owners to confidentially sell their business. As your advisor we have a fiduciary responsibility to consistently and faithfully represent your interests in a professional manner.