2021

Top Fractional CFOs in Boston - 2021

LAST UPDATED 24 Oct, 2021
18 Firms
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List of the Top Fractional CFOs in Boston

C.A. Kyriakis has been providing quality, personalized financial guidance to local individuals and businesses. Their expertise ranges from basic tax management and accounting services to more in-depth services such as audits, financial statements, and financial planning. is one of the leading firms in and throughout the area. By combining our expertise, experience and the team mentality of their staff, they assure that every client receives the close analysis and attention they deserve.

Service Focus
21%
17%
22%
11%
7%
22%

Greg O’Brien offers creative tax, financial and accounting solutions for startups, entrepreneurs and high growth individuals. The goal of the firm is to simply your life by taking the technical talk out of accounting and tax and showing you bottom line results. They can provide qualified accounting and tax professionals who can ensure that your financial records are maintained correctly and accurately.

Service Focus
8%
19%
10%
24%
16%
22%

Tristan CPA Boston is an outsourced accounting company run by experienced financial professionals. This means that you get the benefits of big firm expertise with the flexibility, focus and personalized results you need to grow your small business. They help their Greater Boston bookkeeping clients adopt technology to streamline processes and create efficiency for solid financial footing.

Service Focus
36%
30%
4%
16%
0%
14%

Blum Shapiro is the largest regional accounting, tax and business advisory firm based in New England. Their tax, accounting, audit and advisory teams use their subject matter and industry expertise, built over the past 35 years, to show their clients how to learn from the past, interpret the present, and move into the future on solid footing.

Service Focus
4%
21%
21%
23%
21%
11%

John Schachter + Associates assists clients to make the right financial, tax, and business decisions. They take the pain out of working with the IRS and state revenue departments, with expert tax preparation, planning and representation services. Their clients are successful individuals with complicated tax lives, families in need of multigenerational planning, as well as new and growing businesses: partnerships, corporations, trusts, estates and LLCs.

Service Focus
8%
29%
5%
10%
4%
43%

Wolf & Company is one of the top regional certified public accounting firms in the Northeast, New York and New Jersey. Building on their tradition of unparalleled guidance, they provide their clients with audit and assurance, tax, business consulting, risk management services. They serve bank holding companies, community banks, credit unions, public-owned banks, and DeNovo institutions.

Service Focus
34%
22%
2%
6%
6%
31%

Walter & Shuffain is a results-driven firm which serves as the trusted advisors to privately-held businesses and their owners. They provide consulting, tax and estate planning, and accounting services to a variety of business sectors including: real estate, professional services, healthcare, technology, manufacturing and construction.

Service Focus
16%
10%
22%
3%
25%
25%

At Edelstein, they are devoted to a client experience that revolves around your personal and business goals, not around formulas and ratios. Their accounting team serves all types and sizes of entities throughout New England and beyond – experience and perspective that adds value.

Service Focus
14%
20%
16%
17%
20%
13%

David Miller CPA is a full service, boutique accounting firm which was established in Boston in 2017 and opened a second office in Chicago in 2019. With certified training and expansive financial knowledge, they are equipped to handle all your accounting needs. They have experience in individual tax preparation, business tax, tax advising, small business consulting, and international tax issues.

Service Focus
9%
27%
12%
15%
17%
21%

Marcum provides a full spectrum of traditional tax, accounting, and assurance services; financial, risk, and transaction advisory services; valuation, forensic and litigation services; technology consulting and managed services; and an extensive portfolio of specialty and niche industry practices. Business owners and managers choose Marcum for their pragmatic, industry-focused insights

Service Focus
8%
25%
2%
26%
37%
2%

Tax Prep Boston is a small, personal firm focused on the tax and accounting needs of small businesses and individuals. They have extensive experience working with creative businesses, services industries and real estate. They work with their clients to become an integral part of their tax compliance and reduction strategies

Service Focus
25%
20%
8%
22%
11%
14%

Dukhon Tax has been serving Greater Boston since 2011 and delivering expertise to our business and individual clients. They are Certified Public Accountants for the modern world – more than just number-crunchers, they are advisers and year-round consultants. Their boutique firm astutely understands the needs of modern professionals, students, families, entrepreneurs and leaders in today’s business world that is both going global and getting smaller.

Service Focus
24%
11%
12%
13%
23%
17%

Raphael and Raphael are Certified Public Accountants and Consultants dedicated to providing their clients the highest quality of Accounting, Auditing, Consulting, Tax and Financial Planning services to meet the growing needs of their clientele.

Service Focus
7%
14%
26%
5%
30%
18%

Nicholas A. Papakyrikos, CPA has been in private practice since 1987. His area of practice involves advising businesses, individuals, estates, trusts and non profit organizations in matters related to taxation, investments and overall life and financial planning for the future. He has been invited to speak to various personal and professional organizations and to instruct other tax, legal and financial professionals on a wide range of financial topics.

Service Focus
7%
33%
12%
16%
3%
29%

ALL CPAs (Abrams Little-Gill Loberfeld PC) conducts business with a distinct vision in mind: to maintain uncompromising quality and to meet your specific needs with solutions designed for your interests. Whether you are coming to us looking for answers to specific questions or for specific services, such as audit or review of your financial statements, tax advice, estate planning and financial planning.

Service Focus
7%
3%
10%
28%
21%
30%

Jean Patrick Romain, CPA is a full-service accounting firm serving clients throughout the Boston, Massachusetts area, dedicated to providing their clients with professional, personalized services and guidance in a wide range of financial and business needs. Whether you are an individual or business in or around Boston, Jean Patrick Romain, CPA has years of valuable experience assisting professionals with their accounting needs.

Service Focus
20%
25%
17%
4%
31%
3%

Sheridan CPA is a full-service Accounting firm. They offer a broad range of services for business owners, executives, and independent professionals. We are affordable, experienced, and friendly. Their firm is one of the leading firms in the area. By combining their expertise, experience, and the energy of their staff, each client receives close personal and professional attention.

Service Focus
28%
14%
8%
7%
21%
22%

At Brown Consulting Company from preparing budgets, managing audits, and to ensuring 401(k) plan compliance, they have you covered. They manage your books, produce financial statements, reconciliations, and own the AP/AR function. They work with several banks and venture debt lenders. Then they analyze and negotiate term sheets. Developing budgets, forecasts, fundraising scenarios, and cap table modeling is their expertise.

Service Focus
13%
23%
17%
19%
18%
9%

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.