Most independent investment consultants authorized by the National Securities Commission (CNVM) prefer to provide consultancy services within company valuation proceedings, considering that most of them attracted less than 10 clients in 2009.
Most of the consultants interviewed by Business Standard confirmed that the services provided to investors on the Stock Exchange are just a small portion of their activity.
“When we are talking about a large company, worth several millions of euro, the valuation contract is also significant. In this situation, the consultant receives 0.3-0.4 percent, up to one percent of its value. At small enterprises, the tariff is fixed, let us say RON 4,000-5,000, for a valuation. Anyway, there are not that many clients. One cannot make a living from consultancy,” said Lucian Beschea, investment consultant.
