Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:01/03/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Floyd Advisory group was hired to help with a business dispute primarily during the summertime of 2023. They required a retainer of $15,000 which was paid. Floyd Advisory was hired to help determine partnership interests in order to help settle a lawsuit. Floyd was provided with all of the information necessary to do so in what should have taken a few hours of work. Floyd unnecessarily expanded the work to research things that had no basis in the ultimate goal they were hired for. In the end they demanded what would total over $55,000 and only until they were paid in full could we see the work they had done. The amount was outrageous and certainly against the many discussions I had had with the company indicating we did not have a lot of money. Nevertheless we foolishly paid them in full as we would have lost our retainer with nothing to show for it. Floyd provided a report which was a *** of an excel spreadsheet and corresponding document explaining why they **** certain conclusions. The spreadsheet in the *** format made it so I could not see how their numbers were derived and the corresponding explanations were shoddy and contrary to the information they were provided. The inconsistencies were pointed out to Floyd and I requested they justify their work (and $). Floyd, on its website, lives by 'guiding principles' which include communicating with the customer. After several e-mails, ********************** has refused to answer basic questions that rationalize their work. If a business is going to charge over $50k for something that was immediately deemed worthless, they should have to support the quality of their work and if they are unable to do so, they should have to refund the money immediately.

  Business Response

  Date: 01/24/2024

  To whom it may concern,
  
  My name is ******************************* and I'm the Managing Partner of Floyd Advisory LLC.  We received a letter from the BBB that ***************************** file a complaint (complaint number 21094631).  The online system did not recognize the complaint number but the letter stated I could also respond by texting this number.  Here is our response and I can be contacted at ************ with any questions or if you need further information:
  
  Floyd Advisory LLC was engaged by legal counsel (two separate  law firms) for two other parties that were involved in a business dispute.  Specifically, Floyd Advisory LLC was engaged as a neutral accounting expert to evaluate certain accounting issues and provide information to assist with the resolution of the dispute.  As always, we were diligent, independent, and objective when performing our analysis. The individual who filed the complaint was one of the parties to the dispute and did not agree with our analysis, since it did not support his position in the dispute

  Customer Answer

  Date: 01/24/2024

  Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered. 

  [You must provide details of why you are not satisfied with this resolution.  If you do not enter a reason for your rejection, your complaint will be closed as Answered.]
  
  Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
  
  FAQ
  
  Regards,

  *********

  Floyd Advisory claims to be diligent, objective, and neutral. Their analysis would be proof of anything but that. Floyd Advisory completely ignored much of what information I provided them and even altered my accounting to fit their narrative. They made several judgements that were simply using the word of the other party over myself. As the person who has done all accounting for fifteen years or so I was sickened by the poor quality of work and the exorbitant cost, which I could not see until they were paid in full. I have on multiple occasions asked for explanations to support their conclusions, all of which have gone unanswered. I know Floyd Advisory cannot defend their work because it is erroneous and they don't want to acknowledge that. I paid for diligent, objective, neutral work and I am simpy asking that Floyd Advisory answer my questions in defense of their work and if they are unable to do so to refund my money because they have breached their obligations. Thus far all my questions have gone unanswered. If Floyd does not comply I will be escalating to the courts and asking for damages.

  Regards,

  ****

   

  Business Response

  Date: 02/06/2024

  Please see the attached further response to the above referenced Complaint.
  
   
  
  Thank you,
  
  ****
  
   
  
  **********************************

  Customer Answer

  Date: 02/09/2024

  Floyd Advisors, now through its attorneys, contend that it performed "diligent" work. We are both in agreement that there was an expectation of quality, particularly at $600/hour. I have asked Floyd on many occasions to answer questions regarding the quality of their work as I find it to lack any diligence and I am stonewalled each time. Normally a company would happily answer questions and defend the quality of their work. Floyd initially said it would respond to my questions but instead threatened me with litigation for expressing my dissatisfaction. I have expressly told Floyd Advisors that the attorneys are no longer involved and they are to deal with me directly; they are forwarding information to people who no longer represent me. Floyd represents that there was to be no direct contact but both ********************* and *************************** have emailed me directly while conducting research. They also set up a conference call, which again was direct contact. I have had several phone calls with *************************** and possibly even ******. Not only that, Floyd Advisors established a process of conducting research, which it did not follow. Specifically, Floyd, in its work, punished me hundreds of thousands of dollars for not responding to a question (that had already been answered) that was asked after the questioning process had ended. I can prove of all of my claims and I strongly believe that Floyd knows its work is indefensible so they are being evasive so as not to have to admit fault. 

  I have asked on several occasions for Floyd to defend their work or provide clarity and they continually make excuses to evade me. I have tried to resolve this with the BBB to no avail and I will try the same with the Attorney General's office. Court is a last resort, but if compelling them to answer questions is the only way I can get them to answer for their work, they have left me no other choice. I should also note that Floyd has attempted to keep me from reporting them to the likes of the BBB as they threatened me with litigation for making any negative public comments. I ask that unless Floyd cooperates, which it easily could have done from the beginning, the BBB hold a negative rating against them.

  ****

   

  Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered. 

  [You must provide details of why you are not satisfied with this resolution.  If you do not enter a reason for your rejection, your complaint will be closed as Answered.]
  
  Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
  
  FAQ
  
  Regards,

  Alexander