Question · Q2 2026
James Edwin Yaro inquired about the growth algorithm and long-term profile of the financial and valuation advisory (FVA) business, and the specific drivers behind the corporate finance deal timing shift between fiscal Q3 and Q4.
Answer
Scott Adelson, CEO, explained that FVA comprises non-cyclical portfolio valuation, a hybrid opinion business, and M&A-tied transaction advisory. Lindsey Alley, CFO, added that FVA generally follows corporate finance trends but with less volatility. Regarding corporate finance timing, Scott Adelson attributed the expected Q4 strength over Q3 to building momentum and typical second-half seasonality, while Lindsey Alley noted it's an unusual seasonal dynamic.