Changing Trustees Without Chaos: How to Ensure a Smooth Transition

The most common concern when switching: “This is going to be complicated.” The reality: Switching to a modern fiduciary is a standardized process and requires virtually no effort on your part as a business owner.

Step 1: Power of Attorney and Termination

You sign a power of attorney for the new fiduciary and terminate the existing contract in a timely manner. The notice period is usually specified in the contract—typically three months, effective at the end of the quarter or year.

Step 2: Data Transfer

The new fiduciary contacts the previous provider directly and takes over all documents: accounting records, VAT returns, payroll master data, contracts, and tax files. You don’t have to hand anything over yourself. Our checklist of the most important documents shows which documents you should still have ready.

Step 3: Software Onboarding

Accounting software such as Bexio, Abacus, or Klara is either taken over or set up anew. The new fiduciary handles access, interfaces, and data migration.

Step 4: Introductory Meeting

In a face-to-face meeting, you’ll get to know your new contact person, clarify expectations, and define the scope of the collaboration. This is where you’ll see if the chemistry is right.

Step 5: First Financial Statement

The new fiduciary prepares the first monthly or quarterly financial statement and reviews the data quality of the previous provider. Any anomalies are documented and discussed with you.

What’s important after the change

The first month determines whether the new partnership works. Read about what you should look out for in The First Month After Changing Trustees. We explain exactly what happens with accounting, VAT, and annual financial statements in this article.

The complete guide at a glance

This article is part of our comprehensive series on changing trustees. In the ultimate guide to changing trustees in Switzerland, you’ll find all 10 articles at a glance—from legal basics to a successful handover.

Conclusion

Changing trustees will take you no more than a few hours—spread out over several weeks. Findea handles the entire handover process, including communication with the previous trustee.