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Know of AdvisoryClo...
 

Know of AdvisoryCloud?  


Robert Kirk
Posts: 11
Patina Nation Member
Joined: 2 years ago

Ladies and Gentlemen,

Today I was contacted by AdvisoryCloud. The person I talked to described AdvisoryCloud as an Uber for consultants and companies looking for an advisor. They will include the consultant in their population of "Advisors and Board Members" for $285 a quarter. They will also take other steps to market members to client companies looking for a consultant. Client companies also pay a fee to get access to the pool of consultants.

The consultant sets their own rates, sets the work schedule, and collects their own receivables as a 1099 company. I was assured the client companies are vetted so problems with collections shouldn’t happen.  

Does anybody know of them? Is this a good platform for getting business or should I run away and save the $285 every three months?

31 Replies
Bruce Sing
Posts: 2
Patina Nation Member
Joined: 6 months ago

I spoke with them as well late last year. While their monthly fee has come way down since last year, it is still more than I want to spend for potentially no results. I definitely am not a fan of their high pressure sales approach, lack of clarity on the web site of the fees structure or the fact that they regularly hound me.

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Michael Chirveno
Posts: 2
Patina Nation Member
Joined: 10 months ago

I used Advisory Cloud for several months (fairly close to a year). I applied to more than 20 engagements and never had a single call or email from one of them. On a good number of them, I "checked all the boxes" on the qualifications, so I thought it was odd that I never got even a nibble. If I were you, I'd take a pass.

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John Francis
Posts: 1
Patina Nation Member
Joined: 7 months ago

Thanks for bringing this up, eager to see if others have info to share.

Yes I was involved in their earlier platform called Board Connect, or something like that. I paid $250 per month and followed all the instructions, added by experience and discussed with their team how to find more and better board work opportunities. I tried it for about 12 months and the only requests I received were two and they were not legitimate, they were looking for investors. I cancelled.

 

I saw Advisory Cloud on Linkedin and went to check it out and it's the SAME platform with a new name. I had signed up for the free version and then got nothing... I determined to pull OFF of their platform, I don't think it's worthwhile.... seems they'll take about ANYONE and I don't see serious work being gained there. 

 

Willing to see if others have better experience, I'd reconsider and tru it again??

Thanks!
JF

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John Fisher
Posts: 4
Patina Nation Member
Joined: 10 months ago

I was also contacted by them and it seemed like a scam to me.  The sales guy kept calling back even after I told him I was not interested.    I'm on boards for a couple of startups and do advisory consulting with a lot of companies and I've never heard of any company using these guys to find BOD members.  

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Robert Kirk
Posts: 11
Patina Nation Member
Joined: 2 years ago

John,

Thank you for replying. Sharing your experience with Advisory Cloud is valuable. I’m at a point, in my career, where I think I would add something to a board. I was never a CFO so it would have to a smaller company. The GMs of the world aren’t looking for me.

I also heard of another similar organization named In Touch Network on Friday. This group got their start in London and now they also have a U.S. office in Chicago. In appears their fee structure (I’m rounding) is a flat $600 for 6 months, $1500 for a year and more for 3 years helping potential board members connect with companies, interview coaching, and other resume / marketing support.

Anyone know of In Touch Network? My career hasn’t provided the type of organic connections that lead to board membership invitations.

I’ve recently taken an interest in groups like this to try to play catch up in this space. I now realize the things I should have been doing, in the past, to be viable board candidate.

Bob

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1 Reply
John Fisher
Joined: 10 months ago

Patina Nation Member
Posts: 4

@rkirk235gmail-com

Bob,

It is very difficult to get a BOD position where you are not known by the organization.  If you want to get some BOD experience, one way is to join one of the associations in your industry and become active in that organization.  Once you are well known through your participation, you may be asked to join their BOD.  

If you have not held an executive position in a company, the chances of you being asked to join a for profit BOD is slim.  Boards sometimes need specific technical skills but they will find people they have experience with, not someone recommended by groups like Advisory Cloud. 

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Xu Ashton
Posts: 2
Patina Nation Member
Joined: 6 months ago

Those asking for a fee, I think, usually is just that, asking you to pay. I don't expect they can produce any good leads.

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Mindy Kantor
Posts: 5
Patina Nation Member
Joined: 1 year ago

They reached out to me in January and I was unsure. I ended up signing up for 3 months and regretted it a week later. I tried to get my monies back and no luck. The company used to be called Exec Ranks. I wish I knew that because my sister was a member of that for years as a CFO and stated that it provided her no value. I'm getting out in May. The issue in my opinion is if you search on your core areas you'll see pages of other execs before you even see your name. Ironically I thought I was unique given my change and communications background (versus most C-Suite personnel), but I was not even listed in the first 8 pages and gave up.  I asked them how the back-end algorithm worked and their answer didn't seem plausible. I also do not like that I can't delete my credit card info. The sales person needed to enter it. It won't be deleted until they remove my page, which again can't be done before the end date. I also thought I'd enjoy being an advisor to their start-ups. That's another cluster they have NOT figured out. 

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William Leslie
Posts: 8
Patina Nation Member
Joined: 6 months ago
Reply
1 Reply
Robert Kirk
Joined: 2 years ago

Patina Nation Member
Posts: 11

@wleslie-ssigmail-com

William,

Thanks for sending the link to the BBB. I reviewed the Advisory Cloud summary on BBB. Quite a read.

I also used the BBB access to get feedback on the other, similar, group that called me, named In Touch Network. They are British with a Chicago office for North America. The BBB had no record of In Tough Network. I think I’ll stay clear of both.

Bob

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Mitchell Fink
Posts: 9
Member
Joined: 2 years ago

I too had no results of any consequences in their previous iteration as ExecRanks.  I was taken in by their sales pitch.  I spent a lot of money each month for over a year,  checked all the boxes and only had one possible contact that never followed up with me.  I will be happy to talk with any of you via phone if you like.

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