The ten questions, applied to every adviser.
The questions below test whether any adviser is structurally aligned with the buyer. They are designed to be put to people, not to be answered alone.
Part 01The introductions
- 01
Who introduced the yacht (or yard) to me, and who pays them?
- 02
Who recommended the lawyer, and who pays them?
- 03
Who recommended the surveyor, and who pays them?
- 04
Who recommended the management company, and who pays them?
Part 02The disclosures
- 05
Has any party offered to provide their services “at no cost,” and if so, who is paying them?
- 06
Has every party I am working with disclosed their commercial relationships in writing, including referral fees, retrocessions, and equity holdings in counterparties?
Part 03The structural alignment
- 07
Is my legal counsel independent of the broker, the yard, and the management company, and is their fee paid by me directly?
- 08
Is my surveyor independent of the seller and of the broker, and is their fee paid by me directly?
- 09
If I am building, is my owner’s representative paid solely by me, with no contingent fee, no yard commission, and no referral relationship?
Part 04The structural test
- 10
If I asked any of these parties to walk away from a deal that would not benefit me, would they?
If the answer is no for any party, the relationship is not structurally aligned with the buyer.