Marshall & Stevens Acquires Salt Lake City Financial Advisory Firm

Marshall & Stevens, Incorporated (“Marshall & Stevens” or “M&S”), a premier national independent valuation consulting firm, is pleased to announce the acquisition of Rocky Mountain Advisory, LLC (“RMA”), a respected forensic accounting and litigation support company headquartered in Salt Lake City, Utah. The addition of RMA expands Marshall & Stevens’ platform of services to include more comprehensive dispute resolution and expert witness consulting.

Founded in 2010, RMA provides bankruptcy consulting, receivership, fraud and forensic accounting investigations, damages calculations, business and intangible asset valuations, divorce services, and expert witness testimony in each of these areas. The professionals at RMA, primarily certified public accountants (“CPA”), include accredited senior appraisers in business valuation, (“ASA” or “ABV”), certified fraud examiners (“CFE”) and certified fraud forensics (“CFF”), certified insolvency and restructuring advisors (“CIRA”), and specialists with certification in distressed business valuation (“CDBV”).

Law firms, courts, governmental agencies, public and private companies, investors, and employees across the US engage RMA to assist with challenging matters of dispute. The team at RMA has specialized experience providing expert testimony investigating Ponzi schemes, securities and corporate fraud, distressed company workouts, partnership disputes, economic damages, and the like.

“We are eager to introduce the specialists from RMA to our clients and referral sources and to having an office in Salt Lake City. Adding RMA transforms our Dispute Resolution and Litigation Support practice and provides new offerings in bankruptcy consulting, investigative accounting and divorce services,” said Mark Santarsiero, President and CEO of Marshall & Stevens since 2000. “Public companies, private enterprises, investors, attorneys, accountants and insurance companies depend on M&S to provide high-quality, well-researched insights into a wide range of M&A, wealth transfer and investment transactions. The experts at RMA allow us to provide a broader portfolio of expertise to our clients and the trusted advisors who refer the majority of our work to us.”

“Marshall & Stevens has had great success strategically investing in senior professionals from other firms and adding them to the collaborative and supportive Marshall & Stevens’ platform to create a well-respected, high-growth practice. Several years ago, M&S dedicated itself to developing a renewable energy practice based upon a few key senior professionals with specialized experience in project finance, project development, and valuations for structured finance and cost segregation. Today, our Energy & Infrastructure (“E&I”) practice is the second largest practice in our firm. E&I now serves as a vehicle to attract core financial and asset valuation services including repowering (80/20) analyses, quarterly financial reporting for infrastructure funds, purchase price allocations, impairment testing, easement and other real estate appraisals, and Fairness Opinions. The addition of RMA is the first step in the development of an expansive Marshall & Stevens Dispute Resolution and Investigations practice.”

“Our team is excited to have joined Marshall & Stevens,” said Matt Connors, ASA, CPA/ABV, CFE, Managing Director at RMA. “We can now offer our clients and referral sources more comprehensive valuation and appraisal services. Marshall & Stevens expands our offerings in valuations for private equity funds, US and international financial reporting, real estate and equipment valuations, and Fairness Opinions. We are pleased to partner with the variety of subject matter and sector experts at Marshall & Stevens to provide a broader portfolio of counsel to our clients as well as enhance our overall body of

“I am happy to report to those who have relied on RMA’s expert witness and investigative accounting services that our dedication to client service and excellence continues. The professionals at Marshall & Stevens are very similar to us.”

About Marshall & Stevens
Founded in 1932, Marshall & Stevens works with business owners, management, boards, investors, and trusted advisors to provide independent valuations, transaction opinions, and dispute analysis. The professionals at Marshall & Stevens combine their quantitative and qualitative skills with real-world experience to objectively determine the value of businesses, debt and equity investments, tangible and intangible assets, and real estate.

For more information about Marshall & Stevens, visit

Marshall & Stevens Contact
Ralph Consola
Principal & Practice Leader
[email protected]

Rocky Mountain Advisory Contact
Matt H. Connors, ASA, CPA/ABV, CFE
Managing Director
[email protected]

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