Answers with Adam:
What's the difference between a Fractional CFO and a Full-time CFO? Want to know if a Fractional CFO is right for your business?
CFO Adam:
The biggest difference between a Fractional CFO and a full-time CFO is that with a full-time CFO, they're there 40 plus hours a week. You're paying them a couple hundred thousand dollars a year salary plus bonuses plus benefits. You're hiring an executive administrative assistant for them. The total cost could be half a million dollars a year.
With a Fractional CFO all you do is you pay them their fee, (whatever that is agreed upon between you and the Fractional CFO), you pay that. You get all the expertise. You get all the strategy, but you only get a part of their time. And that is why they're fractional instead of a full-time CFO.
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Disclaimer: This article contains information and opinions from Adam Kae & Associates, and the information and opinions should not necessarily be seen as the best possible solutions for your business. Please contact us at info@adamkae.com to help you find the best solutions for your business.