• Report: #265371

Complaint Review: GW Equity

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  • Submitted: Sun, August 05, 2007
  • Updated: Wed, October 03, 2007

  • Reported By:Dallas Texas
GW Equity
14241 Dallas Pkwy, Suite 600 Dallas, Texas United States of America

INVESTIGATION: GW Equity committed to 100% client satisfaction. Claims about Company are False, all reports were filed by ex-employees, some are now competitors.. GW Equity implements strategic changes to insure success for their clients, implementing innovative methods to insure growth and stability for middle market companies. Dallas Texas, Nationwide
**UPDATE: Rip-off Report Investigation GW Equity recognized by Rip-off Report Corporate Advocacy Program as a safe business service. Feel safe, confident & secure when doing business with GW Equity

*UPDATE EX-employee responds: Great Western - GW Equity

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Rip-off Report Investigation: Editors UPDATE: Positive Rating and Recognition has been given to GW Equity for its Commitment to Excellence in customer service. Rip-off Reports investigation of GW Equity uncovers an ongoing commitment to total client satisfaction. This means that clients can expect the company will always work towards finding a mutually satisfactory resolution to any complaints or concerns. GW Equity listens carefully to client concerns and views them as an opportunity to learn from past experiences and become more efficient as a company. In spite of the false Reports posted by ex-employees, GW Equity recognizes the need to provide for receptive and open communication with its clients. GW Equity strives to be proactive and avoid potential issues with its clients. To this end, GW Equity has streamlined its customer service department and added new processes in an attempt to identify and resolve issues that arise with its clients more quickly. Because of our investigation and the sincere efforts put forth by GW Equity, LLC, Rip-off Report is is confident in giving GW Equity, LLC a positive rating. GW Equity is committed to making the strategic changes to its customer service department that are necessary to reach its goal of achieving total customer satisfaction through excellent service. GW Equity expects that this goal will be achieved by taking good care of its clients. GW Equity understands that in order to grow as a company it must reflect on any past shortcomings and work to remedy those in the future. GW Equity has allocated necessary resources to work through these and is determined to emerge a stronger organization and create value for its clients. In spite of all such situations, Rip-off Report is confident you have a company that is ready to serve those who need more assistance and is willing to make things right if they seem to have fallen apart. In summary, after our investigation, which included discussions with GW Equity, Rip-off Report is convinced that the company has been and is committed to quality delivery of services resulting in total client satisfaction. NOTE: In 2009 GW Equity rebranded their name to Generational Equity, LLC. Although rebranding is not uncommon in the financial industry, the company felt like for sake of clarity and ease-of-use, that Generational Equity is a more appropriate corporate moniker. With a new emphasis on exit strategies, as well as financial evaluations and merger and acquisitions advisory services this brand is more descriptive of their new strategies for low to middle market private companies. We used to use initials, but initials didnt register with prospective clients, explained Tom, an Executive Vice President of Generational Equity. Then we decided to write everything out, but our name was too much for clients to get to our website. Generational Equity represents exactly the right balance for our clients. GW Equity is still in operation, however, Generational Equity better represents our goal of expediting the transfer of generational wealth and equity that is in every business for the highest and best use of each business owner. Whatever name they use, this is truly a company we feel that can be trusted by any business.. Rip-off Report personally met with the owners and top executives of the company, and we know after a long Investigation on the company, we feel they received a bad rap for nothing. Read more about GW Equitys Commitment to Excellence and Total Consumer Satisfaction and why consumers should feel safe, confident and secure when doing business with a member of Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. ..yes, a long name for a program that does a lot for both consumers and businesses alike. Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,..A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works. ===================== NOW TO THE ORIGINAL REPORT THAT WAS FILED ===================== GW Equity (formerly Great Western) State Inquiry Dallas Texas

In case anyone is interested there is a story titled "State Inquiry: Broker's Practices Draw Scrutiny" in today's Sunday Dallas Morning News Business section regarding GW Equity.

Normally I just browse the Business section but I saw the mention of "Ripoff Report" and couldn't help myself by reading what the whole story was about.

They are definitely scam artists by the sounds of it. Thank God for Ripoff Report, I use it all the time to check certain business out.

Jeremy
Dallas, Texas
U.S.A.

This report was posted on Ripoff Report on 08/05/2007 12:04 PM and is a permanent record located here: http://www.ripoffreport.com/r/GW-Equity/Dallas-Texas-75254/INVESTIGATION-GW-Equity-committed-to-100-client-satisfaction-Claims-about-Company-are-F-265371. 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 UPDATE EX-employee responds

Great Western - GW Equity

AUTHOR: Murphy903 - (U.S.A.)

My late uncle, Stan Hazlewood, was the founder of Great Western Business Exchange. He sold Great Western to John Binkley in the 1980s. I've only seen John once since that time which was at my aunt's funeral in February, 2006.

I can say that my uncle handled the business with the utmost integrity. I was personally involved in the aggressive process that was implemented in bringing buyers and sellers of businesses together. Even as small as the company was back then, we spent thousands of dollars a day in numerous trade journals, business publications, mailing to known investors and buyers of businesses (several who bought undervalued businesses and turned them around, selling them at a profit) and especially the national edition of the Wall Street Journal, USA Today and business journals (we spent $1,000 a day for ads in the WSJ alone). I worked as his vice-president and helped him developed all of the sales presentations for the company that was used at that time.

My uncle was looking at a few possible buyers for his business when he decided to sell it due to personal health issues. John Binkley was his choice, hands down, due to many years of he and Stan engaging in other business interests together. Stan believed in John's integrity and Christian principles. In fact, John had shown on many occasions to be a person of exemplar integrity.

Knowing what I know about John Binkley, I want to be one who will say that whatever allegations that are being made about him and/or Great Western (and Ryan Binkley) are grossly exaggerated if not out and out lies. I see it, at least in part, people who have not received what they want for their business or who have received far less than they believed it to be worth.

There are so many factors involved in the sale of any business that are far beyond the control of the services provided by Great Western, a business broker, a CPA, an attorney, the present owner or anyone else for that matter. The marketability, the desirability, the location, well, there are hundreds of factors involved.

What I found was that most people have some rather unreal expectations of what they believe their business is worth. Because they have put their heart and soul into building the business, the actual value of what someone is willing to pay is far different than what the present owner believes that it is worth. (Though I saw many people when I was there who, at least in my opinion, weren't asking near enough for their businesses).

If Great Western reps suggested that the business is worth more than the actual value, then I would suggest that I certainly would rather start high with an asking price than not ask enough. I would want someone representing my business to have my best interest in mind in getting as much money for as I could. For that, Great Western is definitely acting in the best interest of their clients.

Please accept my posting here as at least an alternate viewpoint and consideration.
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