Wilary Winn

What Wilary Winn does

Wilary Winn is a privately held boutique financial advisory firm founded in 2003 and headquartered in Oakdale, Minnesota, that provides specialized valuation and risk management services to community financial institutions in the United States. The firm operates five integrated service lines: Asset Liability Management (ALM) advisory and model validation; Current Expected Credit Loss (CECL) valuation and model validation; Mergers & Acquisitions valuation and goodwill impairment testing; Valuation of Loan Servicing (residential MSRs, SBA 7(a), commercial/agricultural/multi-family, and consumer loans); and Fair Value Determinations (financial footnotes, mortgage banking derivatives, ESOP business valuations). It serves more than 600 bank and credit union clients across all 50 states, including over 300 community banks (73 publicly traded) and nearly 300 credit unions (42 among the top 100).

The firm's technical stack combines proprietary discounted cash flow models, developed and back-tested over 20+ years, with licensed third-party platforms including Moody's Analytics ZM Desk for ALM modeling, Bloomberg and Intex for investment modeling, Black Book and S&P Global Market Intelligence for loan valuation, and SIFMA-standard models for fair value work. The co-founders, Douglas M. Winn (President) and Frank J. Wilary (Principal), remain actively involved, supported by a team of directors, managers, senior financial analysts, financial analysts, and support staff specializing in the four interrelated business lines, with knowledge from one line (e.g., CECL credit loss work) explicitly informing the others (e.g., M&A loss assumptions and core deposit intangible calculations).

Wilary Winn generates revenue on a fee-based professional services model with no commissions or contingent consideration, structured as multi-year engagements and recurring outsourced advisory services (quarterly or periodic CECL and ALM reporting). The firm is the nation's second-largest provider of SBA 7(a) loan servicing valuations, the leading MSR valuation provider to community financial institutions with more than 325 clients, and has performed more than 600 merger-related valuations since 2009. Distribution is direct to financial institutions, supplemented by referral partnerships with major U.S. CPA firms (Baker Tilly, RSM, BDO, Moss Adams, Plante Moran, and others) and Federal Home Loan Bank relationships. The company operates as an independent, founder-controlled firm with no disclosed external private equity, venture capital, or parent ownership.

Name

Wilary Winn

Legal name

Wilary Winn LLC

Website

https://wilwinn.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

Wilary Winn is a privately held boutique financial advisory firm providing CECL, ALM, M&A, loan servicing, and fair value advisory services to more than 600 community banks and credit unions across all 50 U.S. states.

Ownership category

akta.pro rank

Product category

Financial Risk Management and Valuation Advisory

NAICS

Portfolio Management and Investment Advice (52394), Management Consulting Services (54161)

SIC

Investment Advice (6282), Services-Management Consulting Services (8742)

akta.pro primary industry

M&A Advisory (Buy-Side & Sell-Side) (BPAHAOAA)

akta.pro secondary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Asset liability management
• Credit loss valuation
• Merger valuation services
• Loan servicing valuation
• Fair value determinations

Headquarters

HQ city

Saint Paul

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Professional Services Fees: Fee-based compensation for professional services including CECL valuation, ALM advisory, M&A valuation, loan servicing valuation, and fair value determinations. None of engagements are based on commissions or contingent consideration. Services are provided to more than 600 financial institution clients across the United States.
2. Outsourced Advisory Services: Recurring outsourced services for ALM and CECL reporting provided on an ongoing basis. Clients engage for quarterly or periodic analyses.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Wilary Winn is a boutique financial advisory firm that provides specialized valuation and risk management services to community banks and credit unions. The firm delivers five integrated service lines—Asset Liability Management (ALM), Current Expected Credit Loss (CECL), Mergers & Acquisitions, Valuation of Loan Servicing, and Fair Value Determinations—using proprietary discounted cash flow models, the Moody's Analytics ZM Desk platform, and SIFMA standard methodologies. Engagements are fee-based with no commissions, and the firm serves more than 600 financial institution clients across all 50 states.

Product overview

Wilary Winn is a boutique financial advisory firm offering specialized valuation and risk management services to community financial institutions. The portfolio comprises five integrated service lines: Asset Liability Management (ALM) advisory and model validation; Current Expected Credit Loss (CECL) valuation and model validation; Mergers & Acquisitions advisory including merger valuations and goodwill impairment testing; Valuation of Loan Servicing covering residential MSRs, SBA 7(a) loans, commercial servicing, and consumer loan types; and Fair Value Determinations including mortgage banking derivatives, fair value footnotes, and ESOP business valuations. Services are delivered through proprietary discounted cash flow models with deep interconnections between business lines, where CECL credit loss expertise informs M&A transaction assumptions and ALM deposit studies guide core deposit intangible calculations.

Differentiator

Problem solved

Functional benefit

Products and services

• Asset Liability Management (ALM) Outsourced ALM advisory services for community banks and credit unions, including model validation, non-maturity deposit analysis, and liquidity stress testing. Measures and reports interest rate, liquidity, and credit risk on a fully integrated basis, using Moody's Analytics ZM Desk and proprietary deposit and prepayment assumptions.
• Current Expected Credit Loss (CECL) Predictive, outsourced CECL reporting for financial institutions, developed from detailed analysis of granular cohorts through a complete peak-to-trough business cycle. Includes outsourced CECL valuation and CECL model validation, using proprietary discounted cash flow models with loan-level credit attributes and institution-specific forecasts.
• Mergers & Acquisitions Independent, fee-based fair value determinations for mergers and acquisitions at community financial institutions. Includes preliminary and final merger valuations (day-one journal entries and ongoing amortization schedules) and goodwill impairment testing, informed by proprietary ALM and CECL expertise.
• Valuation of Loan Servicing Comprehensive servicing valuations provided to more than 400 clients across residential mortgage servicing rights (MSRs, 325+ clients), SBA 7(a) loans (nation's second largest provider), commercial/agricultural/multi-family loans, and consumer loan types (auto, healthcare, home improvement, HELOC, solar, student).
• Fair Value Determinations Fair value estimates for financial instruments and mortgage banking derivatives, including interest rate lock commitments (IRLCs), forward sales commitments, fair value footnotes for financial statements, and ESOP business valuations for financial institutions.

Quantifiable outcome

• More than 600 merger-related valuations since January 2009
• +2 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Baker Newman NoyescoreChannel Partner/ Reseller/ DistributorMajor certified public accounting firm with financial institutions practice. One of many CPA firms with deep and long-lasting relationship with Wilary Winn serving as specialist valuation partner.
• Baker TillycoreChannel Partner/ Reseller/ DistributorMajor certified public accounting firm. Wilary Winn serves as specialist valuation partner providing expert valuations and audit evidence for Baker Tilly's financial institution clients.
• Berry Dunn (BDM Assurance)coreChannel Partner/ Reseller/ DistributorCertified public accounting firm with financial institutions practice area. Deep relationship as specialist valuation partner.
• RSM US LLPcoreChannel Partner/ Reseller/ DistributorMajor national CPA firm. Michael D. Lundberg, Partner and National Director Financial Institutions Services, has provided testimonial about Wilary Winn as 'the accountant's valuation specialist' who understands applicable accounting standards and provides audit evidence.
• Moss AdamscoreChannel Partner/ Reseller/ DistributorMajor certified public accounting firm with financial services practice. Deep relationship as specialist valuation partner.
• BDO USAcoreChannel Partner/ Reseller/ DistributorMajor national accounting firm. Francesco Froio, Assurance Partner at BDO, has provided testimonial praising Wilary Winn's mortgage banking expertise and responsiveness.
• Federal Home Loan Bank (FHLB) - Des MoinescoreStrategic or Co-development PartnerFederal Home Loan Bank with solid relationship since firm's inception. Wilary Winn is the only valuation firm with deep knowledge of the Federal Home Loan Banks' Mortgage Partnership Finance Program (MPF).
• Federal Home Loan Bank (FHLB) - San FranciscocoreStrategic or Co-development PartnerFederal Home Loan Bank with solid relationship since firm's inception.
• Federal Home Loan Bank (FHLB) - TopekacoreStrategic or Co-development PartnerFederal Home Loan Bank with solid relationship since firm's inception.
• Federal Home Loan Bank (FHLB) - MPFcoreStrategic or Co-development PartnerMortgage Partnership Finance Program. Wilary Winn is the only valuation firm with deep knowledge of the MPF Program and has developed several tools related to it for clients including accounting guidance, SSFA calculator, and Basel III reporting guide.
• National Association of Government Guaranteed Lenders (NAGGL)coreStrategic or Co-development PartnerWilary Winn firmly supports the industry and is an associate member of NAGGL, the leading organization for SBA 7(a) lenders.
• Additional CPA FirmsminorChannel Partner/ Reseller/ DistributorAdditional CPA firms with relationships: Bonadio Group, Carroll CPAs, CLA (CliftonLarsonAllen), Doeren Mayhew, Eide Bailly, Elliott Davis, FMFE, Forvis Mazars, JTA CU CPA, Plante Moran, RKL, SRSnodgrass, TWHC, Wipfli, Wolf & Co.

Scale indicators7 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Darling Consulting Group: Specialty consulting firm focused on asset-liability management, interest-rate risk, and balance-sheet strategy for U.S. community and regional banks. Direct competitor to Wilary Winn's outsourced ALM and model-validation practice serving the same client profile.
• Abrigo: Provider of software and advisory solutions (CECL, ALM, lending, BSA/AML) to community banks and credit unions. Competes with Wilary Winn across CECL valuation, ALM modeling, and loan-level analytics, though primarily via a SaaS platform model rather than bespoke advisory.
• Empyrean Solutions: Vendor of ALM, CECL, profitability, and loan-level analytical software plus advisory services to community banks. Direct overlap with Wilary Winn's ALM and CECL business lines for the same community-bank and credit-union client base.
• Mercer Capital: Valuation and financial-advisory firm with a dedicated financial-institutions practice (M&A, ESOP, goodwill impairment, MSR-related work). Direct competitor to Wilary Winn's M&A valuation and ESOP business-valuation lines.

Broad incumbents

• Kroll: Large global valuation, disputes, and financial-advisory firm (formerly Duff & Phelps). Overlaps with Wilary Winn in M&A, ESOP, and fair-value engagements, but operates across all industries and at far greater scale.
• Stout: Global advisory firm with a dedicated Valuation practice covering M&A, financial-institutions, and intangible-asset work. Competes with Wilary Winn on larger merger and business-valuation engagements, but serves a much broader industry set.
• Houlihan Lokey: Global investment bank with a strong Financial Institutions Group covering M&A, ESOP, and fairness opinions for banks and credit unions. Competes with Wilary Winn on the M&A valuation/fairness-opinion side of community-bank transactions.
• ProfitStars (Jack Henry): Jack Henry's financial-technology arm offering CECL, ALM, and risk-management solutions to community banks. Competes with Wilary Winn's outsourced ALM/CECL advisory via embedded software products sold alongside Jack Henry's core banking platform.

Others

• Baker Tilly: Top-10 U.S. CPA firm with a substantial Financial Services practice. Primarily a channel partner referring valuation and ALM work to Wilary Winn, but also a potential competitor when its practice builds internal specialist capacity.
• RSM US: Major U.S. middle-market CPA firm with a Financial Institutions practice that uses Wilary Winn as its specialist valuation partner. Functions as a referral channel today but represents a potential in-house competition vector.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wilary Winn