Section I · vs Hiring a Securities Attorney

PPMWizard vs a from-scratch attorney draft

These are two different ways to begin the drafting process. To be clear up front: PPMWizard is not a replacement for a securities attorney. Every PPM drafted on PPMWizard still requires a qualified attorney’s review before issuance. What PPMWizard replaces is the blank page. It gives counsel a structured draft to review; it does not predict or replace counsel’s work.

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No card required · Attorney review required

Attorney-drafts-from-scratch

A bespoke legal engagement

In an attorney-led first-draft engagement, you give securities counsel a summary of your deal — sponsor, target, exemption, waterfall, investor list — and an attorney drafts a PPM under the engagement, often using the firm’s own precedent and drafting process. Counsel defines the engagement scope, timing, revision rounds, stakeholder review, and final deliverables.

Fees depend on deal complexity, firm seniority, jurisdiction, and scope. The output can be fully bespoke: provisions you and counsel negotiate can be written into the document. Ask counsel for a written engagement letter and estimate.

Draft-with-wizard-then-review

A guided draft, then counsel review

You walk the guided wizard, answer structured questions about your exemption, sponsor, target, and waterfall, and export a draft PPM your securities attorney can review. The attorney is still engaged and decides what must be revised or added.

PPMWizard is $249 to unlock the export package for one PPM, $199/month for Pro Monthly, or $1,990/year for Pro Annual. Those prices do not include attorney review, filing fees, taxes, or other vendor costs. Counsel quotes their work separately.

Section II · Side by Side

Eight questions that actually matter

Below is an honest side-by-side. The right-hand column still assumes an attorney reviews the draft before issuance — that part of the workflow does not change.

Attorney first-draft

PPMWizard + counsel review

Time to first usable draft

Timing is set by counsel and depends on availability, complexity, and revision rounds.

The guided draft is available when you finish the inputs; counsel review timing is quoted separately.

Cost of first draft

Quoted by your chosen counsel based on complexity, jurisdiction, firm, and scope.

$249 for one PPM export package or a Pro subscription, plus counsel fees quoted separately.

Customization ceiling

Counsel can draft negotiated provisions within the scope of the engagement.

The wizard covers the patterns represented by its structured fields. Counsel adds or revises provisions outside that scope.

Formal legal opinion

Only if the engagement expressly includes one; drafting a PPM does not by itself include a formal legal opinion.

None. PPMWizard is a drafting tool, not a law firm. Legal opinions must come from your counsel.

Attorney engagement required

Yes — counsel is the drafter from day one.

Yes — counsel reviews the PPMWizard draft and determines required revisions before issuance. This comparison is draft-then-review vs attorney-led drafting.

Working files and deliverables

Defined by the engagement; ask counsel which editable files and other deliverables are included.

Editable Word for counsel redlines, a clean PDF, an investor questionnaire, an applicable Form D pre-fill, a real-estate Excel model where applicable, and reusable wizard data. Word edits must be copied back into the wizard manually.

Updates for subsequent deals

Depends on the engagement, the reusable work counsel retains, and how much the next offering changes.

Clone or re-run the wizard on the new deal while Pro is active; counsel review and any related fees remain separate.

Sample offerings for inspiration

Depends on the firm, engagement, and what precedent materials counsel is able to provide.

21 sample offerings across asset classes, available from day one as starting points.

PPMWizard prices exclude tax, counsel fees, filing fees, and other vendor charges. Counsel scope, timing, and fees depend on the offering.

Section III · A Non-Negotiable Disclaimer

PPMWizard is not a replacement for a securities attorney

Read this carefully. Every PPM drafted on PPMWizard must be reviewed by a qualified securities attorney licensed in your jurisdiction before you issue it to investors. The comparison on this page is not “replace the attorney” versus “hire the attorney.” It is draft-then-review versus draft-from-scratch-with-attorney.

The draft-then-review path changes the attorney’s starting point, not the need for legal judgment. It still includes counsel’s review and any revisions counsel requires. Ask counsel to compare the scope of reviewing an editable PPMWizard draft with a from-scratch drafting engagement for your offering.

If you do not already have securities counsel, any state bar association’s referral service can direct you to a practitioner. Ask prospective counsel for a written scope, fee, timeline, and revision policy; those terms vary by lawyer, jurisdiction, and offering complexity.

Colophon · The honest test

Draft your deal. Send it to counsel.

Walk the wizard, export the watermarked preview PDF, and ask your securities attorney which starting point fits the offering and what scope they would propose for review or attorney-led drafting.

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Drafting tool only — attorney review required before issuance