Jay E. Fishman
Financial Research Associates

Jay E. Fishman, FASA, is a managing director of Financial Research Associates and has been actively engaged in the appraisal profession since 1974. He specializes in the valuations of business enterprises and their intangible assets. Fishman has co-written several books, including the highly acclaimed Guide to Business Valuations (with Shannon Pratt and James Hitchner)and Standards of Value (with Shannon Pratt and William Morrison). He has also written numerous articles on business valuations as well as qualifying as an expert witness and providing testimony in 12 states. He has taught courses on business valuation to the Internal Revenue Service, the National Judicial College, the Hong Kong Society of Accountants, and on behalf of the World Bank in St. Petersburg, Russia. He recently taught courses in Moscow, Russia, for Kwinto Management and for the Slovenian Institute of Auditors in Ljubljana, Slovenia.

He holds a bachelor’s and master’s degree from Temple University as well as an MBA from LaSalle University. Fishman is a Fellow of the American Society of Appraisers, a Fellow of the Royal Institution of Chartered Surveyors, a former chairman of the Business Valuation Committee of the American Society of Appraisers, editor of the Business Valuation Review, an editorial advisory board member of Business Valuation Update, chair of ASA’s Government Relations Committee, a former trustee of The Appraisal Foundation, and is a member of the Appraisal Standards Board of The Appraisal Foundation. He finished his term as a member of the Appraisal Practice Board of The Appraisal Foundation in July 2016. He recently was awarded the Chairman’s Public Service Award from The Appraisal Foundation. The award was established in 2005 to recognize individuals who have worked with the foundation for the benefit of the appraisal profession and who, in the process, have gone above and beyond the call of duty. Fishman was recently appointed as a member of the board of trustees of the International Valuation Standards Council (IVSC).

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