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Forrest Vickery, ASA

Managing Director, Northern California
Sacramento - (916) 614-0530

Business Background

Mr. Vickery is a Shareholder and Managing Director of Northern California operations with Sanli Pastore & Hill, Inc. (SP&H).  Mr. Vickery established and works from SP&H’s Sacramento office, primarily servicing clients throughout Northern California.


Mr. Vickery has been involved in special situations requiring expert financial opinions since joining SP&H in 1995. His experience includes expert witness testimony, business valuations, valuation advisory services, support for litigation, economic and financial research, statistical analysis, fairness opinions, forensic financial analysis, lost profits and economic damages analysis, and analysis of reasonable fair market compensation for executives.  Mr. Vickery has extensive experience in financial data analyses; developing cash flows, economic benefit streams, and financial projections; conducting industry and market studies; analyzing financial statements and determining appropriate financial statement adjustments; performing sensitivity analyses; valuing businesses; and providing live expert testimony regarding financial opinions.


For business valuations, Mr. Vickery regularly performs valuation work for estate planning, estate and gift tax reporting, family and business succession/transition planning, intangible assets, Employee Stock Ownership Plans (ESOPs), Section 409a, and fairness opinions.  For dispute matters, Mr. Vickery regularly performs expert witness services for California eminent domain takings, California Corporations Code shareholder/partner dissolution matters, forensic financial analysis, lost profits, unjust enrichment, disgorgement, and economic damages, as well as other unique situations requiring financial expert testimony.

Deposition & Trial Testimony

Mr. Vickery has experience testifying as an expert witness in California for matters involving business valuations, loss of business value, shareholder dispute/dissolution, marriage dissolution, trust and probate litigation, forensic financial analysis, ability to pay judgments, lost profits, financial data analysis, and various economic damages.

​Education & Credentials

Bachelor of Arts degree in Honors Economics from the University of California at Irvine. He received various honors including cum laude at graduation and induction into the Phi Beta Kappa national honors society.  Courses included economic theory, industrial organization, mathematical statistics, econometrics, applied research, and graduate-level microeconomic theory and mathematical economics. Mr. Vickery is an Accredited Senior Appraiser (ASA), Business Valuation Discipline, of the American Society of Appraisers. Publications, Speeches & Seminars Mr. Vickery has published several articles pertaining to business valuation issues, and has spoken on the topics of business valuation and expert witness testimony at educational forums for public and private associations, bar associations and accounting societies.

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