Philip M. Schwab is a Managing Director in the firm's Valuation Advisory group. He has extensive experience in determining discounts for lack of control and lack of marketability for fractional interests in real property and for interests in business entities, which hold real property, marketable securities, and other traditional and non-traditional assets. He is also recognized for his expertise in determining the valuation impact of holding investment assets inside a C corporation, as well as valuing non-voting securities, debt instruments, and other non-traditional business interests.
Prior to joining Stout, Mr. Schwab was with FMV Opinions for over 20 years, where he was head of the firm's national alternative asset valuation group which specialized in the determination of fair market value discounts for lack of control and lack of marketability. Prior to FMV, he spent three years as a Controller and one year as a General Manager of a wholesale distribution company based in Southern California, where his responsibilities included capital expenditure planning, cash-flow management, accounts receivable and accounts payable management, financial statement preparation and analysis, payroll and personnel management, and financial budgeting and analysis.