Romain Hilger and Bob Faber (B.A. Fiduciaire): Fiduciaries in a Time of Flexibility
According to Romain Hilger and Bob Faber, Partners at B.A. Fiduciaire, the current context is very favorable to a consolidation of the market, especially for fiduciaries who invest in long-term, trusting relationships.
How are clients' needs evolving?
We are fortunate to serve a mix of small, medium, and large operational companies: Traders, craftsmen, service providers, start-ups…. Our relationships are long-term and based on a high level of trust. Clients are now asking us for ever shorter delivery times, perfectly controlled costs, and financial information in real time. Digitalized processing is a must for more and more clients. We provide them with advice for all stages of their company's life, from creation to liquidation. As the children of the baby boom begin to retire from professional life, we are currently very much in demand to assist our clients with mergers and successions.
"Our relationships are long-term and based on a high level of trust.”
How is B.A Fiduciaire developing?
Human-sized fiduciaries are faced with increasingly demanding legal and regulatory obligations. Occupying compliance officers, for example, is in the meantime mandatory, which represents considerable investment which again is promoting consolidation to optimize fixed costs. We anticipated this trend the last years by merging B. A Fiduciaire with Fiduciaire Joseph Treis and we are continuing this year, in merging with Fiduciaire Becker, Gales & Brunetti. The entire team is now reunited at 121 rue de la Faïencerie. Having a very experienced and stable team is a real asset in our fields of expertise. It allows us to properly serve our clients, from start-ups to large companies, by taking care of accounting, balance sheets, VAT, salary calculations, tax compliance and advice, but also by providing assistance in digitizing their accounting documents, drawing up a business plan, assessing the value of the firm or setting up an effective takeover.
How do you see the next step in your development?
We are fortunate to work with long-established companies with a long track record and very few problems. Our goal is to evolve and gain experience together with our customers. The needs and challenges of our customers are constantly changing, and we need to meet and even exceed their expectations when assisting them in their development. Our priority is to grow with our clients.
Since their beginning, we are for instance accompanying a client whose staff has grown from five to hundred people in five years and who is asking us for specific solutions to support their growth in the Grand Duchy and internationally. The digitalization and the availability of accounting data, which can be consulted online in real time, are becoming regular requirements of our clients.
Our approach allows us to act as a trusted partner over the long term, which makes it possible to get through difficult periods with peace of mind. The key word today is flexibility be it with regard to our customers or to our staff. We need to keep up with the times.