Robert W. Carter, MS, CPA, CVA, CFE, CEPARob Carter

Mr. Carter joined Hertzbach in 2007 as a financial analyst and now exclusively manages the Business Valuation, Forensic Accounting and Litigation Support Department. He graduated from Stevenson University with a B.S. in Business Administration, focusing primarily in Finance and his Master’s Degree from the University of Baltimore in Accounting and Business Advisory Services. He has earned the Certified Valuation Analyst designation from the National Association of Certified Valuators and Analysts, the Certified Public Accountant designation from the State of Maryland, the Certified Fraud Examiner designation from the Association of Certified Fraud Examiners, and the Certified Exit Planning Advisor designation from the Exit Planning Institute. He currently serves on the Advisory Council for the Association of Certified Fraud Examiners and is the President of the Maryland/DC Chapter of the National Association of Certified Valuators and Analysts.

Mr. Carter has contributed articles to several professional and academic publications and has taught for the National Business Institute as well as the Maryland/DC Chapter of the National Association of Certified Valuators and Analysts. He also teaches at Stevenson University as an adjunct instructor in the Graduate Forensic Studies Program. He specializes in valuation engagements for S-corporation conversions, ESOPs, marital dissolutions, gift and estate tax, buy-sell agreements, and many other business valuation purposes. Mr. Carter has managed several forensic accounting and fraud investigations involving misappropriation of assets/intellectual property and embezzlement claims. He also provides expert witness services for marital dissolutions, stockholder and partnership disputes, personal injury and lost profits claims, as well as other white collar criminal and civil matters.

Areas of Concentration

Business Valuations
Litigation Consulting
Forensic Accounting
Fraud Investigation
Exit Planning
Value Growth Advisory

Professional Experience

2007 - Present
Hertzbach & Company, P.A.
Owings Mills, Maryland

2015 - Present
Stevenson University
Owings Mills, Maryland
Adjunct Instructor: Graduate Forensic Studies Program

Education & Certifications

2008     Stevenson University, B.S., Business Administration
2008     NACVA, Certified Valuation Analyst
2012     State of Maryland, Certified Pubic Accountant
2013     ACFE, Certified Fraud Examiner
2015     University of Baltimore, M.S. Accounting and Business Advisory Services

Professional Affiliations

National Association of Certified Valuators and Analysts (NACVA)
Maryland/DC Chapter of National Association of Certified Valuators and Analysts (MD/DC NACVA)
American Institute of Certified Public Accountants (AICPA)
Maryland Association of Certified Public Accountants (MACPA)
New Young Professionals Network (N/YPN)
Association of Certified Fraud Examiners (ACFE)
American Academy of Economic and Financial Experts (AAEFE)
Maryland Chapter of Exit Planning Exchange (XPX)
Exit Planning Institute (EPI)


Direct Number
410.363.3200 x1427


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