Fractional CFO & Part-Time Finance Director

Q: How many days a week does a fractional CFO work?

Most work one to three days a week. The time commitment is agreed at the start and can increase during busy periods, such as a fundraise or an acquisition, then reduce again.

Q: How much does a fractional CFO cost?

Fractional CFOs are usually engaged on a day rate or a monthly fee for an agreed number of days. The cost depends on their experience, the complexity of the business and the time required. It is usually much lower than the cost of a full-time CFO.

Q: What is the difference between a fractional CFO and an outsourced accountant?

An outsourced accountant handles bookkeeping, accounts and compliance. A fractional CFO is a senior finance leader who works with the CEO and board on strategy, funding, forecasting and investor relationships.

Q: When should a business move to a full-time CFO?

Usually when the financial complexity of the business needs senior attention every day, for example after significant investment, rapid growth or an acquisition. A good fractional CFO will tell you when that point is approaching.

Fractional CFO Executive Search

Many growing businesses need CFO-level thinking well before they can justify a full-time CFO.

The founder is still running the finance function alongside everything else. The finance team handles the numbers but cannot advise the board. An investor is asking for forecasts, cash plans and reporting the business has never had to produce.

A fractional CFO gives you that experience part time, often one to three days a week. They work with the CEO and board on strategy, funding, cash and reporting, and lead the finance team, without the cost of a full-time executive.

Novo finds fractional CFOs and Finance Directors with the right experience for the stage your business has reached, and the judgement to tell you when it is time to move to a full-time appointment.

Considering other fractional roles? Read our overview of fractional leadership.

Fractional Finance Specialist

Dale Perrett

Founding Director

Considering a fractional CFO?

Talk to us about the stage your business is at and the finance leadership it needs.

Call now

Email now

Fractional Finance Specialist

Matthew Searle

Director

Considering a fractional CFO?

Talk to us about the stage your business is at and the finance leadership it needs.

Call now

Email now

Senior finance leadership without a full-time appointment

Book a confidential discussion with one of our Executive Search Directors

Discuss a Fractional CFO

What Is a Fractional CFO?

A fractional CFO, sometimes called a part-time finance director, is a senior finance leader, not an outsourced bookkeeper.

Typical responsibilities include:

Financial strategy, planning and forecasting
Cash flow management and funding
Investor and lender relationships

Board reporting
Building the finance team, systems and controls
Preparing for investment, acquisition or exit

Most work one to three days a week. The time commitment can increase during a fundraise, acquisition or audit, and reduce once the finance function is running well.

Is Your Business Ready for a Fractional CFO?

The right time usually depends on the stage the business has reached.

Founder-led and scaling: The founder needs to step back from the numbers, and the business needs someone who can plan ahead, not just report on the past.

Preparing for investment: Investors will expect credible forecasts, a clear funding case and someone who can answer their questions with confidence.

PE-backed portfolio companies: Smaller portfolio companies often need investor-grade reporting before they need a full-time CFO. See our page on leadership for PE-backed companies.

Between permanent Finance Directors: A fractional CFO can provide senior oversight while the business decides on the right long-term structure.

Fractional CFO, Interim CFO or Permanent CFO?

Each option suits a different situation.

Fractional CFO: Part time and ongoing. Suits growing businesses that need senior finance input but not five days a week.

Interim CFO: Full time for a fixed period, with a defined outcome. Suits urgent gaps, turnarounds and transactions.

Permanent CFO: Full time and ongoing. Suits businesses where the financial complexity needs senior leadership every day.

Testimonials

Novo ran a highly professional and thorough search process, bringing forward an impressive list of candidates for our consideration

RECCo

We were delighted with Novo’s work and efforts. Theye significantly contributed to achieving our goal. We therefore would have no hesitation in recommending Novo to any other organisation looking for help or advice in executive recruitment.

Chiorino UK Ltd

Novo’s Legal Team were retained to recruit a Partner. Through a targeted and comprehensive headhunting assignment process Novo were successful in appointing an excellent Partner for the practice.

Bray & Bray Solicitors

“My personal experience with Novo was really good. They had all the information I needed whilst being professional, discreet and considerate, which ultimately made the whole process extremely smooth.” Account Director, Catalina Marketing

Catalina Marketing

Novo supported us with carefully selected executive and non-executive search campaigns; all three roles were successfully filled. Thank you.

Central Bedfordshire Council

As a result of Novo’s commitment and hard work we have acquired five very good businesses; a great team effort. We plan to embark on a third round of acquisitions next year and will have no hesitation in choosing Novo as a partner.

Clearsprings Support Services Ltd

How We Find Fractional Finance Leaders

Fractional CFOs are experienced finance leaders who have chosen to work with a small number of businesses at once. The best are busy and selective about where they commit their time.

Brief: We agree the stage of the business, the priorities for the finance function and the number of days the role needs.

Search: We identify fractional finance leaders with relevant sector and growth experience through our research team and established networks.

Fit: We assess how each candidate will work with the founder, CEO and board, as well as their technical experience.

Review: We stay in touch as the business grows, so the arrangement can change when the business needs more, or less, of their time.