Katelyn Rogers started her CBV journey in 2018 shortly after transitioning to the Grant Thornton LLP transactions team.
Prior to this, she spent several years in the firm’s assurance group working in the audit practice space, where she obtained her CPA designation. Although her experience in audit provided valuable insights into financial reporting, she found herself increasingly intrigued by clients undergoing transitions and succession planning. Motivated by this, she explored the world of business valuation and M&A while learning more about the CBV Program of studies and recognizing its potential to lay a strong foundation for her career aspirations.
How has the CBV designation supported your career development?
I enrolled in the CBV Program of Studies after working for about a year in our transactions group. I found the program to be highly practical. What I appreciated the most was I had the ability to choose electives. Among the four options available, I selected corporate finance and private investments, which proved to be immensely beneficial for the career path I envisioned.
The CBV designation opened numerous doors for me and laid a robust foundation for my current role. The learnings and experiences from the CBV Program of Studies equipped me with the skills to be a well-rounded advisor for our clients. Today, I attribute my success to the valuable knowledge gained through the program; it helped me become a well-rounded client advisor.
Can you share a particularly challenging, yet interesting valuation analysis that made you realize you had chosen the right career path?
I’ve found that the most challenging files, particularly those with complex valuation issues, have been the ones where I’ve learned the most. Thriving in such an environment, I enjoy the process of research and seeking solutions, which has proven beneficial in connecting with colleagues. One noteworthy experience occurred at the start of COVID, especially with files in the hospitality industry. Apart from navigating intricate valuation matters, predicting the industry’s future amid the uncertainties of spring 2020 added an extra layer of complexity.
During this time, working from home led to collaboration across the country with colleagues. It was a great opportunity to strategize and tackle valuations, especially during the height of the pandemic. Over the past two years, the impact of inflation has added another layer of complexity, particularly in the M&A world. Questions surrounding whether company results are inflation-driven and the uncertainty about the future of certain industries have certainly made things interesting.
In my current role, I find it particularly rewarding to work with business owners before going to market. Assisting them in establishing a price for their business not only sets client expectations, but also proves crucial in the negotiation and strategy phases of M&A. The CBV designation has played a significant role, providing me with the technical knowledge and background essential for effective negotiations on pricing.
What differences do you see in your current role as compared to your previous role?
From a technical standpoint, the CBV designation was invaluable. Integrating the learnings into my day-to-day work provided the experiential dimension needed for a well-rounded skill set. I am genuinely pleased with the path I took for the CBV designation, finding that it seamlessly complements my work in the M&A context. Applying business valuation expertise, I’m also able to support clients primarily focused on succession planning.
Comparing pre-CBV to post-CBV, my CPA designation provided a strong foundation in financial reporting. However, post-CBV, I’m able to leverage the technical skills honed through the CBV Program of Studies to become a more comprehensive and well-rounded advisor. This is particularly evident in my role assisting clients in selling their businesses, a critical process for many privately owned businesses in Atlantic Canada.
Navigating clients through sales processes, acquisitions, or business valuations, which they often undergo only once in a lifetime, requires a specialized skill set. Having the CBV designation and the associated technical skills has proven to be instrumental in this regard.
Do you have any tips for people looking to become a CBV?
I would recommend reaching out to other CBVs to gain insights into the Program of Studies and understand their career paths. Exploring various avenues, whether through casual coffee meetings or virtual connections on platforms such as email or LinkedIn, can provide valuable perspectives on the diverse experiences within the CBV community. After these conversations, consider seeking relevant roles that align with the CBV designation to gain practical experience. Additionally, finding a mentor can significantly contribute to your success, as the combination of practical experience and mentorship proves instrumental in navigating the complexities of the CBV journey.
#FunFact: Right now, my husband and I are renovating a cottage in Cape Breton, which has been in his family for generations. It wasn’t in great shape when we got it, so we’re learning how to tackle jobs such as drywall and painting. It’s a fun project, and we’re enjoying the process of giving the place a new lease on life!