Governance models

Professional firms at the crossroads between autonomy and aggregation

A conference in Palermo will provide an opportunity to discuss the civil and corporate solutions best suited to the evolution of the professional world

(AdobeStock)

3' min read

3' min read

The speed of change - regulatory, technological, social - leaves no room for immobility. Traditional models creak under the weight of new demands, and the professional, alone, risks failing. In this scenario, aggregation is no longer a strategic choice: it is a necessity. But how to reconcile efficiency and identity? How to preserve one's autonomy in a context that is increasingly oriented towards financial logic? The regulations, while trying to intervene, often chase a reality that evolves faster than the rules, trying to offer tools and solutions that can accompany this transformation.

Associated firms, STPs, networks and multidisciplinary models are not new, but they are becoming essential tools for meeting the challenges of today. However, joining together is not easy. Lawyers and accountants often have strong egos and building a shared organisation requires a common vision, balance and shared professional style. It is therefore useful to ask what are the conditions for an effective aggregation and how can an organisational culture capable of valuing differences be built.

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One of the central nodes in aggregate forms is management capacity. Schools that train managers for professional firms are still few and poorly structured. Often the role is assumed by the most charismatic professional or the one who wields the most influence, but this is an informal leadership, lacking in tools and above all specific training. The management of an 'aggregated' firm requires managerial, organisational and strategic skills, specifically tailored to each area. From the Managing Partner to the Office Manager, via the Practice Manager and the HR Manager, each figure contributes actively to the growth and overall efficiency of the firm.

In this context, greater inclusion of women, who are still under-represented in key roles in governance, is essential. Yet, experience shows that women offer solid managerial skills, characterised by a collaborative, mediation-oriented and consensus-building approach, a now indispensable element and value of effective leadership.

Another fundamental asset of human capital, young people: invest not only to ensure the necessary generational transition, but to foster their inclusion and to prevent the profession from losing innovation. Their more current vision and their naturally more vital mindset are indispensable levers for the professional tradition to evolve in a current sense.

In recent years, investment funds, software houses and international firms have started to acquire professional firms, attracted by the stability of cash flows and the scalability of models; these are not only small firms but also established structures that are now considering divestments or industrial partnerships.

These operations raise questions about professional independence, governance and beyond. Capital does not guarantee the quality of service: people do. Independence from economic powers and outside interests remains an inalienable principle, enshrined in deontological codes. How can professional autonomy be protected in a market increasingly oriented towards financial logic?

These different scenarios include the draft enabling act for the reform of the regulation of the profession of chartered accountant and auditing expert, approved on 11 September 2025, which introduces, among other things, novelties on STP (with new rules for registration and operation), recognition of specialisations, fair compensation, and disciplinary discipline.

The legal profession is also the subject of reform; among the main regulatory interventions is the regulation of collective forms of practice: stricter criteria for companies between lawyers (with the specification that two-thirds of the capital, voting rights and profits be held by members of the bar) and at the same time the strengthening of professional secrecy. The current reforms pose a crucial question: can they strengthen the role of the lawyer without distorting his identity and independence?

All this will be discussed at the conference organised by ACBGroup on 10 October 2025 in Palermo, at Villa Malfitano, entitled 'Aggregation of professional firms - Corporate reorganisation operations'. It will be an opportunity to discuss the civil and corporate solutions best suited to supporting the evolution of the professional world. The future of the professional goes from here: aggregation, managerialism, independence and shared vision. It is no longer time for soloists, but for well-directed orchestras.

Studio Righini - ACB Member Verona

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