Aug 30, 2021
The well-established nature and high price points of large consulting firms have led to the common assumption that they are the best choice for FinTech companies looking for support with their license applications. Big 4 firms do have a role to play, but in today’s show I explain why this role is different than you may think, using real world examples from my own clients’ experiences.
If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is.
Today's episode:
[01:34] A common belief that people have about large legal firms.
[02:38] What an efficient license application process should look like.
[03:27] I share a personal experience which highlights why I don’t recommend using Big 4 firms for license applications.
[05:31] Another example of why Big 4 firms are not the places to go for license applications.
[07:01] The kinds of clients I usually work with.
[07:30] Elements you need to have in order when you are applying for a license, and the dangers of trying to do all of them at the same time.
[08:50] When it is a good idea to approach a Big 4 firm.
[11:28] Why Big 4 firms are not equipped to handle forward looking projects where they have to deal with risks.
[12:56] How Big 4 firms justify their value and their high costs.
[15:00] The main reason that I believe you should not be approaching Big 4 firms to support your license application.
Show links: