Located in Milwaukee, Wisconsin, Fiduciary Real Estate Development, Inc. (Fiduciary) is a Wisconsin-focused property management and real estate development company. Fiduciary’s property management division manages nearly 4,500 apartment units in 23 locations in Wisconsin, and its development division specializes in single-family residential development, condominium construction, and condominium conversion.
Situation
In 2006, Brett Miller left his longtime position as a real estate attorney at a respected Milwaukee business law firm to work for Fiduciary, which was one of his longtime clients. During his years in private practice he had seen firsthand Wipfli’s proactive and team approach as Wipfli worked for mutual clients. Brett knew he wanted Wipfli as his outside accounting team at Fiduciary.
Strategy
Even though Fiduciary has more than 50 tax returns to file each year, Brett says the transition to Wipfli went very smoothly, “It was easier for us than I or my director of accounting had anticipated. Wipfli put together and managed a transition plan and completed all of the returns in the time frame acceptable to Fiduciary.” Brett explains, “In some cases Wipfli questioned things from prior year returns and provided valuable feedback. It was great to get a fresh perspective on our returns and accounting procedures, and we always knew where we were in the transition plan and what to expect.”
Benefits
Brett believes Fiduciary’s main benefit from transitioning is Wipfli’s proactive tax planning and communication. “As we look at my projects and properties and how to position them, the Wipfli tax team takes a proactive approach,” explains Brett. “They take time to find out what my goal is and then help me execute to get there.” He says he especially appreciates the honesty and strategic advice from his relationship executive, John Schwab. “When I go to him and tell him about a situation and what my goal is, he doesn’t just say ‘no,’ or ‘you can’t do that,’ which is common in this business. Instead he says ‘you can’t do it this way because of x, y, and z, but here’s a way we can get you there, or as close as possible.’ He helps me identify creative solutions to get me where I want to go.”
