Closely held asset is a generic term for a majority or minority equity interest in a business that is not publicly traded on stock exchanges. I own a closely held family business. My accountant provides me with annual financial statements that include the book value of my company.
Book value is a common accounting term, which reflects the historical cost of assets in a company.
This is just one example where book value is not reflective of fair market value. While book value is one way to begin to look at how a company has historically performed, it cannot accurately forecast the future, which is where much of the value to the owner-shareholder exists. Therefore, we review all potential valuation methodologies that may apply to your business and select those that best capture fair market value for our customers. The Closely Held Asset Management Group provides a wide range of asset management, business valuation and fiduciary services for existing Bank One trust, agency and custody customers. Private Business Advisory Services provides its services, including business valuations, to customers who do not currently have a trust, agency or custody relationship with Bank One.