Get to Know Quinn Mcdermid

Quinn Mcdermid, a Partner in MNP’s Valuation and Litigation Support practice, started his career in stocks and trading, and was always fascinated by the underlying drivers that led investors to prefer one investment over another. That fascination led him to MNP and a career in valuations and today Quinn focuses on financial reporting, assisting clients to move efficiently through purchase price allocations, impairment testing, and other fair value estimates. In this Q & A, we take the opportunity to get to know Quinn better and why he is passionate about valuations.

What led you to valuations?

My prior career was in a trading role, being involved in markets day to day. Stocks would move and without a thorough grasp of the reasons, the moves were seemingly random to me. I wanted to better understand the underlying drivers of a business and what led investors to prefer one over another. That led me to pursue the CFA program, attend business school, and ultimately focus on valuations as a career.

What do you enjoy about your role in valuations?

I get the chance to cover a wide array of industries, discuss my client’s businesses with them in real-time, and deliberate over valuation concepts with fellow valuators. Every day is a new opportunity to gain experience and grow as markets, economies, and industries change constantly.

What inspired you to focus on financial reporting?

A lot of the work of financial reporting is recognizing the value of a business beyond its tangible assets, whether that be in intangible assets such as customer relationships, technology, and brand, or in the goodwill of the business. As businesses have evolved, intangible assets have grown in importance and the challenge of understanding and valuing these assets drew me in.

My role at MNP involves financial reporting on both sides of the audit process. I work closely with our assurance teams to review the work of other valuators. In addition, I provide my own clients with the knowledge and expertise to efficiently navigate through their own audits. Seeing both sides of this work has given me the opportunity to keep well-informed on the best valuation practices, which I in turn pass on to my clients.

What do you like most about being a part of the MNP team?

MNP’s focus on teamwork immediately appealed to me. The culture at MNP to work together to achieve our common goals resonates with me. MNP’s reach nationally is a big benefit. The national valuation team has partners and team members with experience in a diverse set of industries and for many different purposes who are always willing to help.