• Accredited Senior Appraiser under the auspices of American Society of Appraisers.
  • California State Polytechnic University, M.B.A. – Finance
  • California State Polytechnic University, B.S. – Finance, Real Estate, Business Law

GEORGE WARTAN, ASA – President and Managing Director

Mr. Wartan is the President and Managing Director at Rivem Consulting. Prior to joining Rivem Consulting, Mr. Wartan served as a Director at Vantage Point Advisors where he led the complex valuation practice of the firm. Prior to Vantage Point Advisors, Mr. Wartan was a Director and Co-leader of the complex capital structures and complex securities valuation practice of BDO Consulting. He collaborated with audit teams across the nation and provided solutions on a wide range of complex valuation issues. Having extensive experience providing complex valuations for clients, Mr. Wartan has valued a wide range of complex derivative securities including options, warrants with various features, equity component of debt instruments, instruments classified as liabilities, contingent considerations, restricted stock units, and market and performance-based incentive awards, utilizing various option-pricing techniques including Monte Carlo simulation and lattice models.

During his 8 years at BDO, Mr. Wartan provided a wide range of valuation studies for financial reporting, tax reporting and mergers and acquisitions. He has prepared valuation studies of public, private, and venture capital-backed companies within a wide range of industries including healthcare, construction, entertainment, energy, technology, telecommunication, apparel, home appliances, insurance, aerospace and defense. Mr. Wartan performed valuation assignments for purposes of ASC 815 derivatives and hedging Instruments, ASC 805 intangible assets and purchase price allocation, ASC 350 goodwill impairment testing, ASC 718 valuation of stock options including market and performance-based awards, as well as valuations for purposes of IRC Section 409A, estate and gift tax planning, and litigation support.

Mr. Wartan has consulted in numerous merger and acquisition engagements. He has advised corporate attorneys in creating capital structures and formulating rights and preferences of a variety of equity instruments for purposes of drafting operating agreements and stock purchase agreements. He has also performed business case and pricing analyses for venture capital-backed startup companies for management planning purposes.

Prior to joining BDO, Mr. Wartan was at RSM McGladrey for 5-years. At RSM, Mr. Wartan was involved in wealth management and consulting services, including financial advisory services, business valuation assignments, market research, and complex financial modeling projects.



  • Leavy School of Business, Santa Clara University (Bachelor of Science)


Ms. Urrutia is a Sr. Manager at Rivem Consulting, Inc. (“Rivem Consulting”). Ms. Urrutia has provided valuation services for over 10 years to both individuals and corporate entities in a wide range of industries. Prior to joining Rivem Consulting, Ms. Urrutia served as a Sr. Manager at Andersen Tax, as a member of their Valuation Services Group. Additionally, Ms. Urrutia worked as part of BDO Consulting for two years.

Ms. Urrutia has worked on a variety of engagements, including financial reporting; mergers and acquisitions support; tax planning and reporting; start-up common stock analysis; and strategic planning. Ms. Urrutia has focused on the valuation of privately-held businesses, intellectual property, intangible assets, convertible and promissory notes, minority and controlling interests, and real-estate holding entities.

Services provided on recent engagements include:

  • Purchase price allocations and impairment analyses in compliance with FASB ASC 805: Business Combinations, and FASB ASC 350: Intangibles – Goodwill and Other
  • Preparation of analyses for clients audited by accounting firms including PwC, KPMG, Deloitte, and Ernst & Young
  • Valuation consulting related to tax planning and compliance, including appraisals performed for estate and gift tax reporting, and domestic and international tax planning (including restructuring, and ownership/control changes)
  • Common stock valuations for tax and financial reporting to comply with Internal Revenue Code Section 409A of the and FASB ASC 718: Compensation – Stock Compensation
  • Financial analysis and consulting to assist with business forecasting, acquisitions, and management planning
  • Valuation of convertible note investments, stock options, and capital and carried interests