ADS Code of Ethics
Members of America Dental Sales (ADS) shall maintain a high level of technical competence pertaining to the art and science of dental practice valuating and brokerage. This shall be accomplished by attendance at continuing education seminars hosted by ADS, and/or other recognized business valuation and brokering professional groups. ADS shall maintain a Peer Review Committee and serve as a forum for informal discussion regarding all aspects of dental practice valuation and brokerage. Members of ADS shall participate fully in these activities.
All information, written or verbal, regarding a dental practice shall be held in strictest confidence by ADS members. Only with written consent of the practice owner (client) may an ADS member disclose financial or proprietary information to any third party.
Absent all pertinent facts relating to a dental practice valuation assignment, no formal or informal opinion shall be rendered by an ADS member as to the value of a dental practice.
The dental practice valuation shall be independent of any fees, compensations, or credits accruing to an ADS member.
ADS members shall observe all statutes, regulations, and laws in the jurisdiction within which a subject dental practice is being valuated or brokered.
All valuations shall be presented to a client dental practice owner in writing, and signed by the ADS member.
How is ADS different?
Dental practice valuations prepared by ADS members shall contain, at a minimum, the following elements in addition to the valuated value of the subject dental practice:
- 1. A statement of purpose for the dental practice valuation;
- 2. A description of the subject dental practice;
- 3. A summary of the pertinent facts upon which the valuation was calculated;
- 4. A summary of the valuation methodology(s);
- 5. A statement of assumptions upon which the valuation was calculated;
- 6. A statement regarding qualifications or limitations under which the valuator may have been restricted; and
- 7. A statement that the member of ADS, Inc. has no present or future financial interest in the dental practice being valuated, or a complete description of any such present or future interest.
There shall be a signed agreement between dental practice seller or buyer clients and ADS member brokers which shall address, at minimum, the following points:
- 1. Clear identification of the seller or buyer client;
- 2. Seller and buyer client application forms with appropriate demographic and financial data questions;
- 3. Duration of the agreement;
- 4. Agreement termination clauses;
- 5. Non-disclosure agreement clauses; and
- 6. Precise nature of brokerage agreement for either seller, buyer, or disclosed dual agency agreement.
Members of ADS must, upon reasonable written request, provide in a prompt manner documentation and information pertinent to a client grievance to the ADS Peer Review Committee.
We are highly aware of the reasons that ADS is the superior practice transition organization in the United States. ADS is a cooperative membership of the highest quality independent members with the most expertise and experience in America. The members are required to have a high degree of experience to be nominated for membership as well as pass the scrutiny of the entire general membership of ADS. Other organizations may franchise territories to representatives with no prior experience in the transition field, but the admission process to ADS requires the highest standards of ethics, experience, and personal integrity. A dentist's practice transition experience is one of the most significant financial events in his or her professional career. This is no time for second best, as there is only one chance to get it right. It is incumbent for those members of the dental profession to deal with an organization possessing the highest skills, experience, and integrity, and that can only be ADS.