Top Ranked
Fractional CFOs

Why These
Fractional CFOs?

Last Updated January, 04, 2021

Wimgo uses a multi-phase selection process beginning with a holistic review by our data team to check any red flags or unresolved complaints. It then selects its curated list using its expert review team on five main criteria listed below, assigning them numerical values. Finally, it selected the top 18 Fractional CFOs for Chicago, il.


Reputation

Analysis of all reviews across verifiable platforms to determine overall sentiment.

Expertise

Team experience and knowledge, along with number of years in business.

Service Quality

The quality of service delivered measured by quality, speed, and value.

Consistency

Rate at which the business consistently produce high quality outcomes.

Customer Service

Reputation and quality of customer experience departments.

Top Fractional CFOs in Chicago - 2020

Fractal CFO

Fractal CFO is the only network of the nation’s top finance executives exclusively dedicated to providing part-time CFO services across the country. When you work with Fractal CFO, they will ensure your specific objective in mind such as growing the company’s revenue, optimizing profitability and managing risk, or raising capital they will effectively accomplish your goals.

Reputation
5/5
Expertise
5/5
Service Quality
5/5
Consistency
5/5
Customer Service
5/5
5
out of 5
5/5 | 18 Reviews

Brilliant SolutionsGroup

Brilliant Solutions Group creates customized software and support plans for every individual client. We look beyond the surface to identify opportunities that help their clients optimize their accounting operations and efficiency so they can focus on growing their businesses. They do more than simply learn about new technologies and solutions for small to mid-sized businesses.

Reputation
5/5
Expertise
5/5
Service Quality
5/5
Consistency
5/5
Customer Service
5/5
5
out of 5
5/5 | 16 Reviews

Brown And AssociatesTax Services

At Brown Tax Services whether you’re an individual or a business owner, taxes are a fact of life, but when you work with a dedicated tax and accounting professional like me, he make sure that you have one less thing to worry about. If you’re looking for a cost-effective solution to managing your finances or feel like it’s time you obtained an accurate picture of your financials so that you can make informed decisions about your financial future, he can help.

Reputation
5/5
Expertise
5/5
Service Quality
5/5
Consistency
5/5
Customer Service
5/5
5
out of 5
5/5 | 13 Reviews

Chicago Tax Services

William Vlazny and his team have been sharing their expertise for over 30 years. Their service is distinguished by close personal attention and fast service in a professional and friendly atmosphere. A seasoned tax and financial services professional with more than two decades of industry leadership, Bill has acquired a vast knowledge of tax law and is able to prepare even the most complex returns with efficiency.

Reputation
5/5
Expertise
5/5
Service Quality
5/5
Consistency
5/5
Customer Service
5/5
5
out of 5
5/5 | 28 Reviews

South Loop CPA, LLC

South Loop CPA are a boutique Certified Public Accounting firm that provide clients with a holistic approach to financial strategies. They provide a range of accounting, tax preparation and financial planning services to families and businesses. For small to medium size businesses, they offer an online bookkeeping system that allows you to scan all your invoices, receipts or bills directly to their online accounting system.

Reputation
5/5
Expertise
4/5
Service Quality
4/5
Consistency
5/5
Customer Service
4/5
4.4
out of 5
5/5 | 9 Reviews

Community Accounting Services LLC

Community Accounting is a small business owner, they understand what it takes to succeed. And that’s why they serve as your dedicated advisor, offering the guidance and deeper financial insight needed to ensure business growth and long-term success. They handle the books, including managing transaction classification and expense tracking. They take over daily bill paying and invoicing tasks, as well as monitor and manage your cash flow to keep your business financially healthy.

Reputation
4/5
Expertise
4/5
Service Quality
4/5
Consistency
5/5
Customer Service
4/5
4.2
out of 5
5/5 | 3 Reviews

Chicagoland CPAs

Chicagoland CPAs is a group of certified public accountants. They provide tax, financial management and accounting solutions for small businesses, individuals and corporations in Chicago and the surrounding area. They provide superior services for all their clients by remaining up-to-date with all Accountant Chicago IL and tax law changes that can impact your business.

Reputation
4/5
Expertise
4/5
Service Quality
5/5
Consistency
5/5
Customer Service
5/5
4.6
out of 5
5/5 | 6 Reviews

John J Griffin CPA P.C.

John Joseph Griffin, CPA, P.C. is the perfect answer to the accounting and tax needs of small businesses. They offer the flexibility to create a package of accounting services, custom made to match the reporting requirements of your particular business. They can provide bookkeeping services, tax planning, new business advisory, and much more.

Reputation
5/5
Expertise
4/5
Service Quality
4/5
Consistency
4/5
Customer Service
4/5
4.2
out of 5
5/5 | 12 Reviews

Chicago Accounting

At Chicago Accounting they offer one-time and recurring accounting and tax services for small and medium businesses. They are bookkeeping professionals for 100s of businesses in the Chicagoland area. Their services includes Income Tax Preparation: Business (forms 1065, 1120 and 1120S), Payroll and sales tax preparation, Business accounting, W-2 and 1099 preparation, Business organization, and Consulting.

Reputation
5/5
Expertise
5/5
Service Quality
4/5
Consistency
5/5
Customer Service
4/5
4.6
out of 5
4/5 | 6 Reviews

The A.C.T. Group, LLC

A.C.T. Group provides immediate access to the necessary technical expertise that is demanded in today’s business climate. They lead the area not only through their expertise in targeted accounting, tax solutions, auditing, and assurance services, but also through their overall knowledge of the business world and through the consulting of financial matters.

Reputation
5/5
Expertise
5/5
Service Quality
5/5
Consistency
5/5
Customer Service
4/5
4.8
out of 5
4/5 | 9 Reviews

APA Financial Services

At APA Financial & Tax Services, you’re our number one priority. Their experts are always on hand to advise, plan, and manage your finances, giving you the freedom to grow your business or relax knowing that your finances are in safe hands. They cover every financial and tax service that you need to stay on top of your finances and look towards a bright future as a growing business or self-employed individual.

Reputation
4/5
Expertise
5/5
Service Quality
4/5
Consistency
4/5
Customer Service
5/5
4.4
out of 5
4/5 | 20 Reviews

Petty’s Accounting & Tax Services

Petty’s Accounting & Tax Service has served the people and businesses with tax preparation services in Chicago, IL, since 2007. They have built a reputation as an accurate, efficient, and state-of-the-art accounting firm with fair, competitive prices. Their full-service tax firm participates annually in continuing professional education courses presented by national accounting and tax associations to stay on the leading edge of ever-changing tax law and accounting methods.

Reputation
5/5
Expertise
5/5
Service Quality
5/5
Consistency
4/5
Customer Service
5/5
4.8
out of 5
5/5 | 13 Reviews

John H Brands CPA

John H. Brands provides accounting, tax and business advisory services to small businesses and individuals throughout the Chicagoland area. Many of his clients initially retained him to resolve an IRS collection issue and most of these cases involved filing several years of delinquent tax returns with minimal documentation, therefore he became very proficient in rebuilding financials using resources such as transcripts from the IRS, county recorder offices, and others.

Reputation
4/5
Expertise
4/5
Service Quality
4/5
Consistency
5/5
Customer Service
5/5
4.4
out of 5
4/5 | 20 Reviews

River East Accounting Inc

RiverEast Tax and Accounting Services Inc, a Chicago based service, they offer Business Accounting, Bookkeeping, Payroll, Business and Personal Tax Services. They assists small business owners with bookkeeping and tax assistance that is affordable; monthly financial reports that are understandable; and a client relationship that is proactive with tax and financial advice

Reputation
4/5
Expertise
3/5
Service Quality
4/5
Consistency
4/5
Customer Service
5/5
4
out of 5
4/5 | 20 Reviews

Northside Financial Services

Northside Financial Services, Inc, based in Chicago, IL, provides a full range of accounting, bookkeeping, consulting, outsourcing, payroll and business services, either in your facility or at our location. They can provide qualified accounting professionals who can ensure that your financial records are maintained correctly and accurately. Their bookkeepers can also assist in setting up and training your staff on the financial systems that you might be using or installing, such as QuickBooks or other legacy systems.

Reputation
3/5
Expertise
4/5
Service Quality
4/5
Consistency
5/5
Customer Service
4/5
4
out of 5
4/5 | 19 Reviews

Pasquesi Partners LLC

Pasquesi Partners handle the basics: bookkeeping, payroll, tax preparation, and financial statements. Their firm uses modern, cloud-based accounting software so you can access your financial data anytime, allowing you to focus on your business while they take care of the rest. As experts in small business accounting needs, they can save you time and money by analyzing your business and goals to provide sound, strategic advice.

Reputation
3/5
Expertise
5/5
Service Quality
4/5
Consistency
5/5
Customer Service
5/5
4.4
out of 5
4/5 | 20 Reviews

Wipfli

Wipfli ranks among the top 20 accounting and business consulting firms in the nation. Their people are eternal students, bringing cross-industry experience and creativity to help clients see beyond today’s most complex business challenges. From operational improvements and performance enhancements to large-scale digital transformation, they help clients achieve lasting results and set their sights on new goals.

Reputation
3/5
Expertise
5/5
Service Quality
3/5
Consistency
5/5
Customer Service
5/5
4.2
out of 5
5/5 | 16 Reviews

OPS Business Accounting and QuickBooks

OPS Accounting has a team of qualified and experienced professionals to assist you with all of your bookkeeping, payroll, tax and accounting needs. A one-stop shop for all of the essential financial services your company needs to manage its growth.

Reputation
3/5
Expertise
3/5
Service Quality
3/5
Consistency
3/5
Customer Service
5/5
3.4
out of 5
5/5 | 1 Reviews

Expert Answers To Common Questions:

  1. How long does an engagement typically last?
  2. Can my Fractional CFO work on-site?
  3. What are the risks of using a Fractional CFO?
  4. What are the benefits of using a Fractional CFO?
  5. What exactly does a Fractional CFO do?
  6. What other things should I look for in a fractional CFO?
  7. What skills should a CFO have?
  8. How do fractional CFOs bill their rates?
  9. How much does a fractional CFO cost?
  10. What is a fractional CFO?
How long does an engagement typically last?

Generally, a fractional CFO engagement tends to last about 3 months, it could also be much longer depending on if the CFO is being replaced. That being said, there have been cases where a fractional CFO engagement lasted from 6 months to about 5 years. There are even some arrangements that have lasted indefinitely. However, when it comes to engagements, the most common ones tend to last 1 to 2 years.

Can my Fractional CFO work on-site?

Fractional CFOs are able to work either remotely or on-site. This is typically dependent on the retainer agreement drawn up. It could also be that the fractional CFO would split their time between working on-site and working remotely, however, this tends to depend on the demands of the business or project.

What are the risks of using a Fractional CFO?

With a fractional CFO, you do not have 24/7 access to them, as the rest of their time would have to be spent attending to their other clients. Additionally, they are unable to concentrate solely on your business and that could lead to your business not getting as much information as it would in the case of a traditional CFO.

What are the benefits of using a Fractional CFO?

Hiring a fractional CFO can mean cost savings to the business, as benefits, equity and profit-sharing agreements typically entered into with a traditional CFO are null and void.

 

A fractional CFO can improve cash flow by doing the following:

  • Introducing strategies that prompt clients to pay their invoices quicker
  • Ramp up collections in order to expedite payment receipts.
  • Cooperate with creditors and banks to manage lines of credit

 

They can also improve profit margins by doing the following:

  • Tracking spending by analysing things that are needed with things that aren’t
  • Reviewing financial statements at a high level enabling the organisation and its team members to concentrate on more pressing matters
  • Working with leadership to create a budget
  • Analysing monthly data to determine where profits are generated from.
What exactly does a Fractional CFO do?

A CFO has numerous duties, from deciding when and where company funds are invested to financial reportage. It is the duty of a CFO to oversee a business’s capital structure, determine the appropriate equity debt mix as well as internal financing. One of the most integral duties of a CFO, however, is to address any issues surrounding capital structure.

What other things should I look for in a fractional CFO?

Money management as well as an understanding of the business’s industry is a key trait for a fractional CFO.
Trustworthiness paired with logic is another key trait a fractional CFO should have, considering that it would be their job to manage the financial actions of a business. They would need to be trustworthy in order to analyse the organisation’s financial strengths and weaknesses, track cash flow, and propose corrective actions.
A fractional CFO needs to have strong leadership capabilities, as they have to be able to effectively communicate with the team, develop a vision for the future, and also share important information.
A fractional CFO should also be results-oriented. This means being able to set goals for the company which the finance team can work towards. It also involves discovering ways to measure outcomes and holding people accountable when those goals aren’t met.

What skills should a CFO have?

A fractional CFO should be a strategist, being able to assist the CEO in novel opportunities, becoming more strategic, and taking on a role more akin to a business partner.
The fractional CFO should also be able to seamlessly translate the Key Performance Indexes of the company into integral information for the CEO, whilst also transforming the CEO’s strategy into an actionable plan. This plan also has to be communicated effectively to the rest of the organisation.
The fractional CFO should also have the skills of a spokesperson. They are not only responsible for financial issues, but they are also responsible for motivating the organisation to execute the company’s strategy and communicating with shareholders.
A fractional CFO should have broad technical knowledge in conjunction with financial management and reporting. This means they should understand the basics of investment, cash flow forecasting and much more.
A fractional CFO should also have the skills of a risk manager, especially as businesses become more international and complicated. They not only have to ensure compliance with a growing list of laws and regulations but they also need to recognise, assess, and respond to emerging and ongoing risks to the business.

How do fractional CFOs bill their rates?

Fractional CFOs tend to work on retainer agreements and the retainers usually range between $1,000 and $1,500 on the low end, $1,500 to $2,500 on the mid-end, and anywhere above $5,000 to $25,000 on the high end.

How much does a fractional CFO cost?

A fractional CFO costs tend to differ depending on the scope of work they do, the complexity and size of the business, the strength of the in-house finance team, and the business’s financials. A fractional CFO tends to cost on average anything from $3,000 to $10,000 per month. Fractional CFOs tend to charge an hourly rate range of $100 to over $250. However, this typically depends on the chosen tier of the fractional CFO. There are three tiers of remuneration, with the first being $50 to $125 per hour, the second being $125 to $150 and the third being $200 to about $350 per hour.

What is a fractional CFO?

A fractional CFO (chief financial officer) can be defined as a CFO with experience who offers their services to companies on a contract, retainer, or part-time basis. This arrangement enables the company to have the expertise and experience of a qualified CFO without having to incur the traditional costs (bonuses, benefits, and salary) of a full-time CFO. A fractional CFO tends to work virtually with a goal to replace the full-time CFO on a temporary or permanent part-time basis.