Those of you who have attended our entrepreneur workshops know that we have advised entrepreneurs generally to avoid engaging consultants who offer to assist you in the fund raising process. In our experience, most of these consultants do not have track records of success. Further, to investors downstream, having hired a fund raising consultant is often a signal that a company has failed to attract any investors, and more often than not it's the sign of a bad investment opportunity.
Below is a link to an LA Times article that ran today which sheds some additional light on this subject.