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Milestones: Bailey, Moore, Glazer, Schaefer & Proto
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Business New Haven
11/24/2003
By: Mimi Houston
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Bailey, Moore, Glazer, Schaefer & Proto
16 Lunar Drive
Woodbridge, CT 06525
Tel: 203-397-7700
Fax:203-397-7717
Web:www.baileymoore.com
Ownership: Gail D'Addio, Michael D'Addio, Vincent DeRobertis, David Leigh, John Mooney, Gorden Oberempt, Dominic Proto, Frank Proto, Ed Schaefer
Milestone: 85 years
Timeline: In 1918, two young brothers - Myer and Maurice Bailey - thought they'd try their luck opening their own accounting firm. Not only did their business survive - it prospered into one of today's most respected area businesses.
"The firm really evolved from the 1920s into the '30s and '40s," recounts Dominic Proto, a retired but still active partner. "More people became involved, and it's grown ever since. In the 1940s we became Bailey Moore & Glazer, and in the '70s, Schaefer and Proto were added."
Despite the changes over its 85-year history, basic business principles - and some major clients -have remained the same.
"Most of our accounts have been here for many years," states Proto. "Some we still have from the '30s."
How does he account for such loyalty? In a word, service.
"We're involved with our businesses," he explains, "We often give them business advice as well as accounting services. If, for example, a client needs to acquire a piece of machinery and they're trying to decide whether to lease it or purchase it, they'll come to us and we'll help them reach the right decision.
"We're businessmen," he says, "as well as accountants. And this perspective is one that has been passed down through the years. We're really a sounding board in all aspects of [our clients'] business."
Proto says this kind of full-service philosophy has ensured growth and success throughout challenging business times.
"We do have a good rapport with our clients as a result," he allows. "And our practice has expanded because of that. Our growth has been largely from referrals."
"We do have some companies that have been our clients since the 1920s and '30s," son and partner Frank Proto adds. "Those are our oldest accounts - the feathers in our cap. We don't specialize in any one industry; our clients range from the very small to the very large.
"We've grown and changed with our clients," he adds. "They become more competitive, and so do we. One of our partners is a tax attorney, so we can counsel our clients on estate planning and review. We craft buys and sells, and because of our expertise we work with every significant law firm in the area."
But Proto says even the most experienced of firms has to work hard to stay at the top of the heap.
"We have been marketing," he states, "especially in the past handful of years. It's just gotten to be more necessary. We're always looking for new business."
Awards and Accomplishments: Bailey Moore Glazer Schaefer & Proto offers something that may fit under the umbrella of full-service business, but also extends a bit beyond it. And it may very well be one reason the firm has enjoyed such a long legacy of success.
"Each of our partners has developed relationships within the community," says Proto. "These may be in a charitable area or in a social area - but each one does something. We're just attempting to get involved and to give back to our community. And we do benefit from it.
"You know, we're all part of our community," Proto says. "And you can't just take from it, you have to give back."
Looking Back on a Changing Industry: Proto explains that community involvement is an integral part of the way the firm does business, and as younger people come on board, they learn not only the business practices of their environment, they take on the full-service philosophy as well.
"We're continually looking for good people to be a part of the firm and to continue along the lines of the past 85 years of accounting, tax work, and business advice services," Proto says of the firm which has grown from two brothers to 32 professionals. "All the partners, even those who have retired, continue to pass on their influence to the staff and to future partners."
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