I am a former employee of Alliance Acquisitions Associates. I worked for the company from its inception in 3/05 (contrary to what consumers are being told) until I was terminated in 2/05. I was terminated for performing my job too well. I was a Senior Account Manager and it was indeed my job to match potential buyer and seller. I was good at my job and truly was working hard toward my goal of matching AND SELLING businesses. I worked on a salary plus commission basis and was responsible for the ONLY businses sold by Alliance to date. This company is a SCAM by any definition of the word. During my employment, I had to lie, mislead and deceive Alliance's clients on a daily basis in order to protect my job.
The company claims to be a "matchmaking service between buyers and sellers of small to medium sized businesses." The company has no intentions of selling your business! They will charge you thousands of dollars upfront for a valuation of your business that often times sellers our told that some of the top accounting firms will be handling— not true. Once the Business Analyst (person who will meet with you and tell you whatever you want to hear in order to leave with a payment!) departs the seller's business with their hard-earned money, the majority of these folks will NEVER be contacted by Alliance.
The contract states that Alliance has 12 months to present the seller with a qualified buyer or a capital funding resource. I am here to tell you that the company did not at the time I was there "qualify" anyone! No background checks, no credit check, no financial analysis. Since the company does not "qualify" buyers, it is easy to present a seller with what they believe is a qualified buyer. Consequently, when the business does not sell within the 12 month period, Alliance will not refund your money as you may believe they will, because you have (in their mind) been presented with a qualified buyer...
The Owner has devised a plan to get around issuing refunds once the 12 month period is over. He will send a letter to the clients that are approaching the 1 year mark with 2 capital funding resources listed. This will serve as the contractual obligation being met by Alliance. You will NOT be refunded, believe me.
When these concerned people call into the company to check the status, all office staff is on guard and have many "scripts" to use in order to "answer" any and all questions the seller may have. The owner is almost never in the office and good luck getting him on the phone if he is there. The Executive Team (CEO and COO) spend the majority of the day dodging phone calls from the most irate clients.
During my employ, the owner and his "Executive Team" (a wife in the role of CFO and her husband as "Corporate Counsel" and COO.)
Problem? Yes, the COO is NO longer practicing law and has not for quite some time! He is NOT an attorney at all.
There have been several BIG ticket items purchased with Alliance's client's money between 3/05 and 2/05. These include elaborate trips for large groups to the Bahamas, Las Vegas, a $300K home in suburban Georgia, an 18-wheel tractor-trailer, a convertible Corvette, a 7-series BMW and a convetible Volvo just to name a few! Please beware and warn small to medium business owners of this scam. I am personally relieved to not be working with Alliance's immoral, unethical and dishonest practices any longer. I sleep much better at night.
The owner of the company has done this before— BEWARE. It's as simple as changing a tax ID#.
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