Andy Ward is a Managing Director in the Valuation Advisory group. His concentration is in ESOP and ERISA Advisory Services. Andy has over 20 years of experience in performing valuation and financial advisory services for a variety of purposes, and has significant experience in performing analyses for a broad array of industries. In particular, Andy has extensive ESOP valuation experience, and has advised numerous fiduciaries and companies in connection with ESOP transactions.

Andy is the Chair of the Valuation Advisory Committee of the ESOP Association, and also serves on the Board of Governors of the ESOP Association. He frequently speaks at professional conferences and seminars and authors articles on valuation and ESOP related topics.

Prior to joining Stout, Andy was a senior associate with a national valuation firm and a consultant in the specialty consulting division of a Big 4 international accounting and consulting firm. In these roles, Andy performed, supervised, and executed numerous valuation, financial advisory, and litigation consulting engagements.

Select Publications

  • The ESOP Association’s ESOP Report February 2010

    The Impact of Public Stock Market Volatility on Private ESOP Company Valuations
  • Willamette Management Associates ‘Insights’ September 2004

    A Second Fairness Opinion Can Bring Independence to M&A Decision Making
  • Willamette Management Associates ‘Insights’ March 2003

    Taxpayer-Friendly Letter Ruling Describes Estate Planning Strategy for Control Owners of ESOP Corporations
  • Willamette Management Associates ‘Insights,’ Special Issue January 2002

    Minimizing Audit Concerns Regarding Purchase Price Allocations to Player Contracts
  • Willamette Management Associates ‘Insights’ January 2001

    ESOP Fairness Opinions
  • Robert F. Reilly, Robert P. Schweihs, Contributing author: Andrew Ward (New York: McGraw-Hill)

    Valuing Small Businesses and Professional Practices
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Select Presentations and Speeches

  • The ESOP Association Annual Conference May 2017

    Current Financing Market
  • The ESOP Association's Annual Conference May 2017

    ESOP Transaction Financing Issues and Market Update
  • The ESOP Association’s Las Vegas Conference & Trade Show November 2016

    Strategic Alternatives for Partially-Owned ESOP Companies
  • The ESOP Association’s Annual Conference May 2016

    ESOP Transaction Financing Issues and Market Update
  • The ESOP Association’s Las Vegas Conference & Trade Show November 2015

    Evaluating Offers and Selling an ESOP Company
  • The ESOP Association’s Las Vegas Conference & Trade Show November 2014

    Strategic Alternatives for Partial ESOP Companies
  • The ESOP Association’s Las Vegas Conference & Trade Show November 2013

    Use and Valuation of Synthetic Equity
  • The ESOP Association’s Annual Conference May 2013

    Seller Financing in ESOP Transactions
  • The ESOP Association’s Las Vegas Technical Conference and Trade Show November 2012

    The Role of the ESOP Fiduciary When a 3rd Party Makes an Offer to Buy Your ESOP Company
  • The ESOP Association’s Tri-States Chapter Conference May 2012

    Trends in Executive Compensation for ESOP Companies
  • The ESOP Association’s Annual Conference May 2012

    Basic Valuation and Introduction to Repurchase Obligation
  • The National Center for Employee Ownership Conference April 2012

    Executive Benefits In An ESOP Company
  • The ESOP Association’s Las Vegas Technical Conference and Trade Show November 2011

    Impact of Repurchase Obligation on Valuation
  • The National Center for Employee Ownership (NCEO) Webinar May 2011

    Handling the Repurchase Obligation-How Repurchase Affects Valuation
  • The ESOP Association’s Annual Conference May 2011

    Advanced Valuation Issues
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