O’Connell Advisory Group Review: Creative, Hands-On QoE and Due Diligence for SBA Buyers
When you’re acquiring a small business, the difference between a good CPA and a great one often comes down to one thing: the willingness to go beyond the spreadsheet. Patrick O’Connell and the O’Connell Advisory Group have built a reputation in the SBA and M&A acquisition community for exactly that — delivering thorough Quality of Earnings reports combined with creative problem-solving that keeps deals alive when other accountants would throw in the towel.
In this detailed review, we’ll examine O’Connell Advisory Group’s services, reputation, approach to due diligence, and whether they’re the right fit for your SBA acquisition.
Who Is Patrick O’Connell?
Patrick O’Connell is the founder of O’Connell Advisory Group, a financial due diligence and advisory firm focused on buy-side acquisitions. Patrick has built his practice around serving business buyers — particularly those using SBA financing — with Quality of Earnings reports and hands-on deal advisory.
What distinguishes Patrick from many CPAs in the space is his approach to problem-solving. As one client put it, “Most CPAs think and operate within a box. A box works for filing taxes, not winning M&A deals.” Patrick is known for thinking outside that box, finding creative solutions to the unexpected challenges that inevitably arise in small business acquisitions.
Services Offered
Quality of Earnings (QoE) Reports
O’Connell Advisory Group’s core service is buy-side Quality of Earnings analysis. Their QoE reports cover:
- Normalized EBITDA analysis: Identifying and adjusting for owner perks, one-time expenses, and non-recurring items
- Revenue verification: Confirming that reported revenue matches actual business performance
- Working capital analysis: Establishing appropriate NWC targets for the purchase agreement
- Trend analysis: Examining financial trends across multiple periods
- Red flag identification: Highlighting areas of concern that could affect the deal
Financial Due Diligence
- Balance sheet analysis and verification
- Accounts receivable aging and collectibility assessment
- Accounts payable analysis
- Proof of cash reconciliation
- Tax return to financial statement reconciliation
Deal Advisory
Beyond the numbers, O’Connell Advisory Group provides strategic advisory support:
- Guidance on deal structure and terms
- Support during seller negotiations
- Communication with SBA lenders on financial findings
- Creative problem-solving for deal obstacles
- Ongoing advisory as deals progress toward closing
What Makes O’Connell Advisory Group Different
Creative Problem-Solving
This is O’Connell Advisory Group’s biggest differentiator. Small business deals are messy — sellers have unsophisticated accounting, missing reports, uncooperative CPAs, and financial records that don’t tell the full story. Where many accountants see these as deal-breakers, Patrick sees them as problems to solve.
A standout example from client testimonials: when a buyer was acquiring a Florida roofing company, the ownership wasn’t financially sophisticated, the AR Aging Report was non-existent, and the sell-side CPA refused to help create one. The bank needed this report to approve the deal. Rather than walking away, Patrick got creative — he reached out to other roofing company owners on X/Twitter, found one using the same CRM as the target company, and figured out how to pull CRM reports to build out the AR Aging Report from scratch.
That’s the kind of resourcefulness that can save a deal.
Responsiveness and Communication
Multiple client reviews highlight Patrick’s responsiveness as a key strength:
- “Quick, responsive, and knowledgeable”
- “Jumping on late night and early morning strategy calls”
- “Very responsive and proactive”
- “His work product was timely and insightful”
In the world of small business acquisitions, deals move fast and windows close quickly. Having a QoE provider who responds promptly and adapts to urgent timelines is invaluable.
Big 4 Quality at SMB Prices
As one client noted, “Patrick’s work is top notch and equivalent to any Big 4 accounting firm.” This comparison to Deloitte, PwC, EY, and KPMG speaks to the quality of analysis, while the pricing remains accessible for SBA-sized deals. You’re getting institutional-grade diligence without the institutional price tag.
Seller Interaction Expertise
A QoE engagement requires significant interaction with the seller and their accountant. Patrick is known for handling these interactions professionally and effectively — asking hard questions without damaging the buyer-seller relationship. This diplomatic skill is critical because you still need to work with the seller through closing and often through a transition period afterward.
What Clients Are Saying
O’Connell Advisory Group has accumulated impressive testimonials from the acquisition community:
- Nick Mogg: “Without a creative CPA like Pat, you will fall short in solving these problems, which could lead to you losing a deal or buying a bad business. Choose wisely.”
- Nate Snyder: “Patrick’s expertise in Financial Due Diligence and Quality of Earnings really made a difference… a premier Buy Side Acquisition consultant.”
- Rodney Dean (Founder Summit, Nav Capital): “Patrick’s work is top notch and equivalent to any Big 4 accounting firm… his quality, responsiveness and attention to detail is comparable.”
- Cameron O’Sullivan: “The QoE data book is high quality and his interactions with the seller during the process was highly professional.”
- Lee Barba (Hampton-Surry Holdings): “Patrick delivered tremendous value within the budgetary framework we agreed upon and was able to highlight and focus on the key issues I wanted diligenced.”
- Gabriel Cruz: “His methods not only equipped me with essential information for making informed decisions on the acquisition but also instilled a valuable perspective of thinking outside the box.”
Who Is O’Connell Advisory Group Best For?
Based on their services and client feedback, O’Connell Advisory Group is ideal for:
- SBA acquisition buyers who want hands-on support throughout the deal process
- Deals with complexity: Messy books, uncooperative sellers, missing documentation, or unusual business structures
- First-time buyers who need a CPA that will guide them through the diligence process, not just hand them a report
- Serial acquirers who want a trusted, long-term QoE partner (multiple clients mention planning to use O’Connell for future transactions)
- Buyers who value creativity and flexibility in their advisory team
Potential Considerations
- Availability: As a boutique firm with a growing reputation, Patrick’s availability may be limited during busy deal seasons. Reach out early.
- Pricing: While clients praise the value relative to cost, specific pricing isn’t publicly listed. Request a quote based on your deal specifics.
- Firm size: As a smaller advisory group, the depth of team resources may differ from larger firms. However, this also means you get direct access to Patrick rather than being handed off to junior staff.
How GoSBA Loans Works Alongside Advisory Firms Like O’Connell
At GoSBA Loans, we regularly work alongside due diligence providers like O’Connell Advisory Group to help SBA buyers close successful acquisitions. The relationship is complementary:
- We handle the financing: GoSBA works with 50+ SBA lenders to find the best loan terms for your acquisition. With over $320 million funded, we know what lenders need and how to package your deal for approval.
- They handle the diligence: O’Connell Advisory Group digs into the financials to verify earnings quality and uncover risks.
- Free business plan ($2,500–$5,000 value): GoSBA provides a complimentary SBA business plan, saving you thousands that can be invested in quality due diligence.
- Coordinated communication: When your QoE reveals findings that affect the financing, we work directly with you and your lender to address concerns and keep the deal moving.
- Creative deal structuring: Just as Patrick O’Connell gets creative with diligence challenges, GoSBA gets creative with financing structures to make deals work. Together, we solve problems from both sides.
The best acquisitions happen when every member of the buyer’s team — lender, broker, attorney, and CPA — works together. GoSBA and O’Connell Advisory Group represent two critical pieces of that puzzle.
Final Verdict: Should You Use O’Connell Advisory Group?
O’Connell Advisory Group is an outstanding choice for SBA buyers who want more than just a QoE report — they want a creative, responsive, hands-on financial advisor who will fight to make their deal work. Patrick O’Connell’s reputation for Big 4 quality work, combined with his willingness to get creative when deals hit obstacles, makes his firm a standout in the SBA acquisition space.
Choose O’Connell Advisory Group if:
- Your deal has complexity that requires creative problem-solving
- You want a CPA who will be actively engaged throughout the process, not just at report delivery
- You value responsiveness and direct access to the lead advisor
- You want Big 4 quality analysis at SMB-appropriate pricing
- You’re looking for a long-term QoE partner for multiple acquisitions
Consider alternatives if:
- You need the absolute lowest cost QoE option
- You prefer a larger firm with a deep bench of analysts
- Your deal is straightforward with clean, well-organized financials
Get Started With Your SBA Acquisition
Great due diligence deserves great financing. While O’Connell Advisory Group verifies the quality of earnings, GoSBA Loans ensures you have the best SBA financing to close the deal.
Contact GoSBA Loans today to get pre-qualified and pair world-class financing with world-class due diligence.
