Most of the people reading this article have probably received an email from Tegus asking them to participate in a short consulting interview. On the surface they are similar to many of the expert networks that we’ve profiled. They mentioned a consulting rate of $250 – $300 per hour when they emailed me, although they didn’t blink when I volleyed back a higher rate ($1000 per hour, because inflation).
Tegus consulting is a buy side investor focused expert network in the US. Calling themselves “The Buy Side’s Leading Primary Research Platform,” Tegus is a growing platform used by investors to get a comprehensive knowledge base of an industry through expert calls with people in the relevant industries.
Like most expert network services, Tegus recruits subject matter experts in a variety of industries, bringing them together to create a massive database for investors. They are focused on efficiency, looking to optimize the primary research phase for institutional investors, and “accelerate the path to insight.”
The company’s history is interesting, however. Based on what I’ve been able to find, they are using the expert network interviews to build a database of insights from recording call transcripts. Their primary business is selling access to these transcripts to subscribers. According to sources on the Internet, they price the interviews fairly cheaply (relative to a GLG or AlphaSights) and earn most of their money from selling their subscription product.
Transcripts – Be Careful What You Say On Those Calls
While this is a brilliant business model – pay for an interview, leverage the content across dozens of other clients, as an expert I’m not a fan of this approach. There are two primary concerns.
The first one is the compensation model. The first client who wants to speak with me is paying full rates, after which everyone is enjoying my past efforts for free. There are no residuals (in the Hollywood sense). Tegus gets subscription fees, I get nothing – and there’s no reason to hire me again. This business model isn’t appealing.
The second – perhaps of greater concern – is there’s now a permanent record of our conversation that is available to people other than the ones I’m speaking with. While my name is anonymous, apparently my bio and job history are available to readers. Unfortunately my career path is sufficiently unique that I don’t have much faith in people being unable to find me.
The real problem here is that many expert network calls often are looking for information which resides in grey areas, topics which aren’t truly secret but certainly not broadly available. For example, building a point of view around fast growing market segments, typical distributor margins, or key product features. Most qualified experts are going to have private information on the topic, such as their company’s plans and financial results. That obviously needs to stay confidential. At the same time, you will have access to industry news, third party research reports, and insights from asking about competitors, customers, and suppliers. Not to mention anything you’ve derived from comparing public information with private facts. Or learned in job interviews. Some – but not all – of that information isn’t confidential and can be shared.
Unfortunately, “appropriate disclosure” is frequently in the eyes of the beholder, especially if your current role is known. My attorneys would be extremely uncomfortable with my standing up at an industry event and providing my thoughts on current industry pricing trends, even if I stuck with quoting public sources. Prior or current employers might be alarmed if your “general trends” happen to be a bit too close to your own company’s financials. Plus since this is going to institutional investors, you’re always exposed to the risk of securities lawyer identifying something you said as the basis for an insider trading case.
To quote a Supreme Court justice, the spoken word is fleeting, the written word endures. While Tegus certainly isn’t the only firm that’s recording and analyzing expert network calls, the prospect of having something said on that call getting published and coming back to haunt me later isn’t worth the risk….
What Does A Call Look Like?
Expert consultations through Tegus are generally short, 45 minutes to an hour, though they do offer opportunities for longer-term relationships with specific clients.
Tegus puts a lot of stress on compliance with insider trading regulations, and avoiding confidential information. Since you will be working with investors, hedge funds, and publicly traded companies, Tegus has strict guidelines to maintain compliance with those regulations. Tegus experts often meet with clients anonymously, not knowing who the client is or what company they represent during or after the expert interviews.
Tegus offers compliance training for these matters, so that their industry experts and advisors can provide good insight without putting either Tegus or the investment management firms at risk.
You’re a subject matter expert now, and expert network services like Tegus are going to come knocking. Your insight and expertise in your industry are valuable, and many companies will be eager for access to it. Doing your research on the many expert network firms can help you decide what is right for you, and you will become an extremely successful advisor.
Information about becoming an adviser is contained within their FAQ.
For Guidance on Setting Consulting Rates, check out our main expert network article.
We hope this expert network review was helpful, and congratulate you on your newfound status as an industry expert! High-end clients and high-level rates await you!
Tegus – Corporate Profile Comments:
Tegus Consulting is an expert network that provides institutional investors with access to expert calls and primary research. Founded by Michael Elnick and Thomas Elnick, the company is based in Chicago and was funded by Willoughby Capital and Oberndorf Enterprises. The company’s mission is to provide its clients (hedge fund operators, institutional investors, and private equity firms) with unmatched insights that enable them to make better informed decisions.
Tegus Consulting operates through its proprietary platform, the Tegus Platform, which offers qualitative insights and leading market intelligence. The platform is designed to help investors navigate the competitive landscape and stay ahead of their competitors. Through the platform, clients can access expert calls and primary research, as well as SEC filings and revenue data.
The company’s team has extensive experience in the financial industry. Tegus Consulting’s positive sum approach to expert network services has set it apart from competitors and has enabled it to provide its clients with informed investment decisions. With its focus on providing qualitative insights and unparalleled access to experts, Tegus Consulting has become a leading market intelligence platform for institutional investors.
Raise Your Profile – Other Expert Networks
If you’re interested in raising your profile as an expert, run through the reviews below and sign up for the networks which are relevant to your skills and geography.
- AlphaSights (Check out our Review here, Top 5 Global Expert Network)
- GLG – Top 5 Global Expert Network
- Dialectica – Leading European Expert Network
- Emissary.io (Expert Network Helping Sales Executives)
- ProSapient – Strong European Expert Network
- Third Bridge – Top 5 Global Expert Network
- GuidePoint – Top 5 Global Expert Network
- Atheneum Partners – European Network that went global
- Axon Advisors – Medium Sized US based Network
- BCC Global – Chinese / Emerging Markets Focused
- Business Talent Group – Management Consulting Engagements
- Candour – Expert Network focused on the Energy Sector
- Capvision – Expert Network Serving China
- Clarity – Pay per Minute Phone Calls for Entrepreneurs
- ENG – US Based Expert Network Serving Investors
- Experfy – US Based, Data Science Focused (Project Board)
- ExpertConnect – US Based Expert Network
- Experts Council – International Expert Network
- LYNK – Global Expert Network (Founded in Asia, Expanded)
- Magellan Research – US Based Expert Network Serving Investors
- Maven Research – US Based Expert Network
- Mosaic Research – US Based Expert Network
- Noble Insights – US Based Expert Network
- OnFrontiers – US Based Expert Network
- Primary Insight – US Based Expert Network
- RidgeTop Research – US Based Expert Network
- Slingshot – US Based Expert Network (group calls)
- Tegus – US Based Expert Network
- Zintro – US Based Expert Network (project board)
- Deep Bench – US Based Expert Network
- Expert Engine – US Based Expert Network
- The Network of Experts / Greenwood Research (US)
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