• Report: #188432

Complaint Review: Alliance Acquisitions Associates

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  • Submitted: Tue, April 25, 2006
  • Updated: Fri, June 02, 2006

  • Reported By:Marietta Georgia
Alliance Acquisitions Associates
3901 Roswell Road, Ste. 215 Marietta, Georgia U.S.A.

Alliance Acquisitions Associates ripoff Marietta Nationwide

*Consumer Comment: LET'S SEE YOUSTARTED IN MARCH 2005 AND WERE TERMINATED IN FEBRUARY 2005... HMMMM?

*Consumer Comment: LET'S SEE YOUSTARTED IN MARCH 2005 AND WERE TERMINATED IN FEBRUARY 2005... HMMMM?

*Consumer Comment: LET'S SEE YOUSTARTED IN MARCH 2005 AND WERE TERMINATED IN FEBRUARY 2005... HMMMM?

*Consumer Comment: LET'S SEE YOUSTARTED IN MARCH 2005 AND WERE TERMINATED IN FEBRUARY 2005... HMMMM?

*Consumer Comment: I loved the OP work history

*Consumer Comment: YOUR MONROE AND MY NAME IS SANTA CLAUS!

*Consumer Comment: YOUR MONROE AND MY NAME IS SANTA CLAUS!

*Consumer Comment: YOUR MONROE AND MY NAME IS SANTA CLAUS!

*Consumer Comment: YOUR MONROE AND MY NAME IS SANTA CLAUS!

*Consumer Comment: Setting the story straight

*Consumer Comment: Setting the story straight

*Consumer Comment: Setting the story straight

*Consumer Comment: POSITIVE COMMENTS ABOUT ALLIANCE ACQUISITIONS ARE COMING FROM THE TOP EXECUTIVES! IT'S TRUE!

*Consumer Comment: Response from a client

*Consumer Comment: Disagree, I have dealt with AA and have found them to be very ethical in their dealings.

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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#.

Lesli
Marietta, Georgia
U.S.A.

This report was posted on Ripoff Report on 04/25/2006 06:03 AM and is a permanent record located here: http://www.ripoffreport.com/r/Alliance-Acquisitions-Associates/Marietta-Georgia-30062/Alliance-Acquisitions-Associates-ripoff-Marietta-Nationwide-188432. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Consumer Comment

LET'S SEE YOUSTARTED IN MARCH 2005 AND WERE TERMINATED IN FEBRUARY 2005... HMMMM?

AUTHOR: Bob - (U.S.A.)

AAFE....I'm wondering how you got fired in February 2005 but started working in March 2005. What is wrong with this picture? You know what I'd think about cutting down on the weed just a little bit, it certainly is destroying some of your brain cells! So you say AAA has been around for almost 100 years?....Wrong animal AAFE this flea bag outfit won't see their 2 year anniversary! You need to get out more often and smell the roses bud! That stuff your smokin' is it Kona Gold?
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#2 Consumer Comment

LET'S SEE YOUSTARTED IN MARCH 2005 AND WERE TERMINATED IN FEBRUARY 2005... HMMMM?

AUTHOR: Bob - (U.S.A.)

AAFE....I'm wondering how you got fired in February 2005 but started working in March 2005. What is wrong with this picture? You know what I'd think about cutting down on the weed just a little bit, it certainly is destroying some of your brain cells! So you say AAA has been around for almost 100 years?....Wrong animal AAFE this flea bag outfit won't see their 2 year anniversary! You need to get out more often and smell the roses bud! That stuff your smokin' is it Kona Gold?
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#3 Consumer Comment

LET'S SEE YOUSTARTED IN MARCH 2005 AND WERE TERMINATED IN FEBRUARY 2005... HMMMM?

AUTHOR: Bob - (U.S.A.)

AAFE....I'm wondering how you got fired in February 2005 but started working in March 2005. What is wrong with this picture? You know what I'd think about cutting down on the weed just a little bit, it certainly is destroying some of your brain cells! So you say AAA has been around for almost 100 years?....Wrong animal AAFE this flea bag outfit won't see their 2 year anniversary! You need to get out more often and smell the roses bud! That stuff your smokin' is it Kona Gold?
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#4 Consumer Comment

LET'S SEE YOUSTARTED IN MARCH 2005 AND WERE TERMINATED IN FEBRUARY 2005... HMMMM?

AUTHOR: Bob - (U.S.A.)

AAFE....I'm wondering how you got fired in February 2005 but started working in March 2005. What is wrong with this picture? You know what I'd think about cutting down on the weed just a little bit, it certainly is destroying some of your brain cells! So you say AAA has been around for almost 100 years?....Wrong animal AAFE this flea bag outfit won't see their 2 year anniversary! You need to get out more often and smell the roses bud! That stuff your smokin' is it Kona Gold?
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#5 Consumer Comment

I loved the OP work history

AUTHOR: Aafes - (U.S.A.)

I loved the OP's work history:

"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."

So, either the OP was terminated before beginning work or worked for Alliance for 100 years.
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#6 Consumer Comment

YOUR MONROE AND MY NAME IS SANTA CLAUS!

AUTHOR: Bob - (U.S.A.)

HEY MONROE.....Your response to AAA is rally good, you used the word rude about 4-5 times responding about Lesli B. Got a suggestion for you TED(curly)or RANDY(moe) since YOU are in such "close contact" with AAA why don't you give me some OTHER names of satisfied AAA clients? I mean if you know about the 1999 you are really in tight with the thieves! Are you on the AAA payroll? And IF not why not? These scumbags are making MILLIONS Monroe and all of us WANT you to get some money for all the time and effort you ahve put in to defending AAA. Tell you what Monroe I'd be getting my money real soon because it won't be long till lots of funds at AAA will be returned to their rightful owners, know what I mean Vern? Get yours NOW Monroe while you can OK! Tell everyone at AAA I said hello and continue to think about you and them VERY OFTEN, as a matter of fact tell AAA that LOTS of people have them in their thought on a dily basis OK!!
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#7 Consumer Comment

YOUR MONROE AND MY NAME IS SANTA CLAUS!

AUTHOR: Bob - (U.S.A.)

HEY MONROE.....Your response to AAA is rally good, you used the word rude about 4-5 times responding about Lesli B. Got a suggestion for you TED(curly)or RANDY(moe) since YOU are in such "close contact" with AAA why don't you give me some OTHER names of satisfied AAA clients? I mean if you know about the 1999 you are really in tight with the thieves! Are you on the AAA payroll? And IF not why not? These scumbags are making MILLIONS Monroe and all of us WANT you to get some money for all the time and effort you ahve put in to defending AAA. Tell you what Monroe I'd be getting my money real soon because it won't be long till lots of funds at AAA will be returned to their rightful owners, know what I mean Vern? Get yours NOW Monroe while you can OK! Tell everyone at AAA I said hello and continue to think about you and them VERY OFTEN, as a matter of fact tell AAA that LOTS of people have them in their thought on a dily basis OK!!
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#8 Consumer Comment

YOUR MONROE AND MY NAME IS SANTA CLAUS!

AUTHOR: Bob - (U.S.A.)

HEY MONROE.....Your response to AAA is rally good, you used the word rude about 4-5 times responding about Lesli B. Got a suggestion for you TED(curly)or RANDY(moe) since YOU are in such "close contact" with AAA why don't you give me some OTHER names of satisfied AAA clients? I mean if you know about the 1999 you are really in tight with the thieves! Are you on the AAA payroll? And IF not why not? These scumbags are making MILLIONS Monroe and all of us WANT you to get some money for all the time and effort you ahve put in to defending AAA. Tell you what Monroe I'd be getting my money real soon because it won't be long till lots of funds at AAA will be returned to their rightful owners, know what I mean Vern? Get yours NOW Monroe while you can OK! Tell everyone at AAA I said hello and continue to think about you and them VERY OFTEN, as a matter of fact tell AAA that LOTS of people have them in their thought on a dily basis OK!!
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#9 Consumer Comment

YOUR MONROE AND MY NAME IS SANTA CLAUS!

AUTHOR: Bob - (U.S.A.)

HEY MONROE.....Your response to AAA is rally good, you used the word rude about 4-5 times responding about Lesli B. Got a suggestion for you TED(curly)or RANDY(moe) since YOU are in such "close contact" with AAA why don't you give me some OTHER names of satisfied AAA clients? I mean if you know about the 1999 you are really in tight with the thieves! Are you on the AAA payroll? And IF not why not? These scumbags are making MILLIONS Monroe and all of us WANT you to get some money for all the time and effort you ahve put in to defending AAA. Tell you what Monroe I'd be getting my money real soon because it won't be long till lots of funds at AAA will be returned to their rightful owners, know what I mean Vern? Get yours NOW Monroe while you can OK! Tell everyone at AAA I said hello and continue to think about you and them VERY OFTEN, as a matter of fact tell AAA that LOTS of people have them in their thought on a dily basis OK!!
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#10 Consumer Comment

Setting the story straight

AUTHOR: Monroe - (U.S.A.)

Again - I don't know why these clients think I am Randy or Ted - I AM A CLIENT of AAA - a satisfied one!!

Since all of these people simply don't know how to read thir contracts, they feel like they were scammed - not so. The client spells out the entire process, including the fact that the client sets the selling price and are introduced to buyers, investors or funding sources (even all 3). The upfront payment is for an evaluation done by an outside valuation company (AAA does not have a valuation department - they pay the OUTSIDE valuation company to prepare the valuation).

Lesli was a rude, incompetant employee. I called her many times to get a status of my process, but she never had time to talk to me, was rude or said she would call back - NOT! I have since then been very happy with the communication I have had with the office.

I even asked about car purchases and such - the Jaguar in question is a 1999 and was purchased in 2003.

Again - I am NOT Randy or Ted. But I do keep in constasnt communication with AAA, so I DO know what is going on.
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#11 Consumer Comment

Setting the story straight

AUTHOR: Monroe - (U.S.A.)

Again - I don't know why these clients think I am Randy or Ted - I AM A CLIENT of AAA - a satisfied one!!

Since all of these people simply don't know how to read thir contracts, they feel like they were scammed - not so. The client spells out the entire process, including the fact that the client sets the selling price and are introduced to buyers, investors or funding sources (even all 3). The upfront payment is for an evaluation done by an outside valuation company (AAA does not have a valuation department - they pay the OUTSIDE valuation company to prepare the valuation).

Lesli was a rude, incompetant employee. I called her many times to get a status of my process, but she never had time to talk to me, was rude or said she would call back - NOT! I have since then been very happy with the communication I have had with the office.

I even asked about car purchases and such - the Jaguar in question is a 1999 and was purchased in 2003.

Again - I am NOT Randy or Ted. But I do keep in constasnt communication with AAA, so I DO know what is going on.
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#12 Consumer Comment

Setting the story straight

AUTHOR: Monroe - (U.S.A.)

Again - I don't know why these clients think I am Randy or Ted - I AM A CLIENT of AAA - a satisfied one!!

Since all of these people simply don't know how to read thir contracts, they feel like they were scammed - not so. The client spells out the entire process, including the fact that the client sets the selling price and are introduced to buyers, investors or funding sources (even all 3). The upfront payment is for an evaluation done by an outside valuation company (AAA does not have a valuation department - they pay the OUTSIDE valuation company to prepare the valuation).

Lesli was a rude, incompetant employee. I called her many times to get a status of my process, but she never had time to talk to me, was rude or said she would call back - NOT! I have since then been very happy with the communication I have had with the office.

I even asked about car purchases and such - the Jaguar in question is a 1999 and was purchased in 2003.

Again - I am NOT Randy or Ted. But I do keep in constasnt communication with AAA, so I DO know what is going on.
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#13 Consumer Comment

POSITIVE COMMENTS ABOUT ALLIANCE ACQUISITIONS ARE COMING FROM THE TOP EXECUTIVES! IT'S TRUE!

AUTHOR: Bob - (U.S.A.)

To "John" and "Monroe".....Congratulations fellas you two FICTIONAL people are the only people on the planet that have ANYTHING positive to say about Alliance Acquisitions period. I publicly challenge each of you two jokers to prove to me that there are really people that support this company that continues to RIPOFF small business owners on a daily basis while reeling in literally MILLIONS of dollars. Lesli hit the nail on the head in her article, AA has only sucessfully CLOSED ONE business involving a buyer and seller out of the 1000's that they have swindled!

IF you had that kind of performance with your employment you would be FIRED immediately EXCEPT if you owned a business, had no morals, no integrity, no scruples and the only things in life that mattered were big boats, expensive cars, cash at hand, and long trips around the world and were laughing all the way to the bank because your scheme was working like a charm.

How long will Alliance Acquisitions continue to do this? Well let's look at what is coming IN on a weekly basis: 35 accounts x $ 5000(minimum charge for a "business analysis" can be as much as $19,000) = $ 175,000 PER WEEK x 52 WEEKS in a year = $ 9,100,000 CHA-CHING! Trust me 35 is a VERY CONSERVATIVE number when AA does their weekly "Welcome Calls" for their new clients!

What could you do with that kind of money? You could buy a $400K home like Randy and a huge boat like Randy, or a BMW like Randy or a $6k playset for your backyard OR you could buy your wife (who is a CFO) a new Jaguar like Ted or line up a nice luxury cruise which they have done multiple times!

Hey "Monroe" which one are you Ted or Randy? We know it's one of you just give it up ok!!! You too "John"!
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#14 Consumer Comment

Response from a client

AUTHOR: John - (U.S.A.)

I signed up with Alliance Acquisitions in December 2005. Like the other comments I have read about this company, I too was told there was an interested buyer of some sort. I did pay for a professionally done bound, certified valuation from a major firm. This company who did mine, had nothing to do with Alliance. They were independant, and national in scope. In fact, the valuation company did valuations for the World Bank among other. After reading this, I decided to anonomously call the same company and determine if I had overpaid. I was quoted retail rate on the same valuation I received of 40% higher. So it was less through Alliance. Second, I have read that there is either no qualification of buyers or there are fake buyers outright designed to fulfill contractual obligations. My question is whats in it for Alliance if they dont do these valuations? The only other charge was when they sell a business, there is a commission. That commission in my case was 3.9%! I called 10 brokers this week asking them to list my business, and 5 said they too needed some kind of proof of value, the others said later. Of the 10, the least expensive was 7%, and the most expensive was 12%. That sounds really high, so ultimately Alliance has better commission structure. Lastly, and in my case most importantly, is I am in negotiation with a real buyer with real money and financing, and the valuation is being used for what it is...a forecast of what my business is worth based off of past performance. Just like the stock market. I have a letter of intent with my buyer, and am in the process of reviewing a buy sell agreement. Escrow funds have been deposited. The price is somethihg I am happy with. In conclusion, I am sure there are situations where companies like this do not sell business, and perhaps there are even loopholes, but I have not had that experience. Service recommended, and the ex-employee comment I have one thing to suggest...how many of you who own businesses and are reading this have had to fire an employee and have them call OSHA or some other organization just to stick it to you to get even. I surely have. I am not saying she is lying, but why go to the trouble of doing this? Why didnt she do it during her employment if she was so bothered? There are lots of ways to whistle blow legally and do it through the proper channels. Truth is in the eye of the beholder. Hope this helps out. John
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#15 Consumer Comment

Disagree, I have dealt with AA and have found them to be very ethical in their dealings.

AUTHOR: Monroe - (U.S.A.)

They diligently match sellers with interested buyers - of course we are not promised that our business will sell and what we have paid for is the valuation that we receive. In my opinion this company is NOT a scam, but a very much needed service to business owners who are trying to sell their businesses confidentially.

This "ex employee" sounds like a very disgruntled employee who obviously was terminated due to their incompetence and inability to work ethically. What a rediculous way to punish the company that evidently paid their bills for a year!
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