FBFM Customer Stories: Education, partnership, and informed decision-making: How Rob Albers uses FBFM to keep his sixth-gen operation going

About Albers Farms

Rob Albers, a sixth-generation farmer, grows about 2,600 acres of corn and soybeans in Macon County, Illinois. He’s worked with FBFM’s Decatur office since 2012.

The Problem: Learning farm financial management from the ground up

Prior to taking over his family’s farm in 2012, Rob worked 30+ years in construction management. He was used to handling single construction contracts for certain dollar amounts. He was great at managing people. He knew how to get things done. But he didn’t have experience running the entire financial operation of something as complex as a farm. 

Capital investments, tax loopholes, government programs, prepay options: farming was filled with industry-specific financial quirks. And at first, Rob didn’t know where to start.

“I didn’t know the first thing about keeping a set of books,” Rob said. “In fact, I’m not sure I even thought about having a set of books. I guess I just assumed my tax accountant would get it all together at the end of the year.” 

Learning everything from scratch on his own would have been a long uphill climb. In an industry like ag where margins are thin and family legacy is at stake, there was no time to waste.

The Solution: FBFM partnership, education, and long-term analysis tools

When Rob tapped into others from the central Illinois farming community, several had the same advice. His ag lender, his second cousin, and another farming friend down the road all recommended reaching out to FBFM for help with financial management and tax planning. 

Rob still wanted to be hands-on and manage his own day-to-day numbers. But as he kept tabs on his numbers, he “had no idea what they meant.” For more in-depth insights, longer term analysis, and better strategic decision-making, Rob turned to FBFM — then never looked back.

The Results: Accurate recordkeeping, better decision-making, and more confidence

Now in his 14th season working with FBFM, Rob has: 

Built a strong foundation of financial management: When Rob began using farm management software in 2012, it felt cumbersome and confusing. From day one, FBFM was there to help. Through their biyearly meetings, Rob learned what he needed to do and how to get the most from his software. FBFM helped Rob build accurate recordkeeping practices, plus meet all balance sheet requirements from his ag lender. 

“I started at zero — having any idea how any of this accounting stuff worked,” Rob said. “With FBFM’s guidance, I’m pretty sufficient at it now.”

Benefited from better big-picture analysis tools: FBFM’s benchmark analysis report helps Rob understand where he stands financially compared to similar farmers in his region. It’s a helpful gauge to either adjust or stay the course depending on how the season is shaking out.

In his first few years with FBFM, Rob focused more on day-to-day recordkeeping. It wasn’t until one of the farmers who’d originally recommended FBFM mentioned his own benchmark analysis that Rob thought: “Well, crap. I never really paid attention to it. It was probably four or five years before I realized what I had in my hands and the value of it.” Since then, the benchmark analysis has been integral to Rob’s financial management. 

Gained more assurance in his decision-making: Each season’s benchmark analysis shows Rob what similar operations are spending on fertilizer, for example, or other inputs. With this info, Rob can more confidently decide whether to cut back on fertilizer spend. He can also see if he’s getting more back from his investment. If his yields are higher than the benchmark set by similar operations, he can rest easier that his fertilizer bills are paying off.

“I don’t live and die by that (benchmarking) analysis, but it is my gospel,” Rob said. “It’s one thing to know what my books are telling me, but it’s entirely different to see how it compares to my neighbors.”

The benchmark data doesn’t always necessarily change Rob’s decision-making. Sometimes, it’s just a boost of confidence to make him nod his head and say, “Yeah, I’m doing this right.” 

Worked with a true partner in his corner: Rob has worked with FBFM’s Craig Macklin for about half of his 14 seasons with FBFM. Before that, he was with Bob Daggett, who was “fantastic,” Rob said. “I was certain the next one could not fill his shoes, but Craig has done a really good job. He’s a super good guy and would never lead me astray.” 

Craig has since moved up to FBFM Regional Vice President, but still serves some of his long-time clients like Rob.

For 14 seasons, the whole FBFM team has brought a mix of down-to-earth education, personal relationships, and specific ag expertise that helps Rob keep his family operation going strong.

“They really know the ins and outs for a farmer,” Rob said. “They know farming, and they know farmers. I think you’re in just as good of hands as you could find for what they provide.”