How to choose a Fractional CFO firm: the decision grid

This grid helps to compare the proposals. To find out about Iter’s missions, budget and intervention methods, consult our service offer. Fractional CFO.

Choosing a Fractional CFO firm is based on five criteria: the real seniority of the affected profile, the economic model, the exit conditions, continuity of service and sectoral suitability. This grid applies to any firm — including ours. Here's how to use it, the questions to ask, and the signals that should alert you.

Criterion 1 — The actual seniority of the affected profile

The brochure shows the partners; the mission is sometimes held by a junior. The only question that matters: which, by name, will intervene at your home, with what background? Ask to meet the person before signing, and check that their experience covers your situation — a waiver if you have one, multi-entity if you have one.

Criterion 2 — The economic model

Three models coexist on the market: time-based billing (TJM), the day package, and the perimeter retainer. None are dishonest, but they create different incentives: a firm paid daily has an interest in the mission lasting; a retainer on scope has an interest in making it effective. Demand to know what triggers an overage, and what is included at no extra cost.

Criterion 3 — Exit conditions

This is the most neglected criterion when signing, and the most painful afterwards. Three questions: is there a minimum commitment period? What is the notice period? What happens to your data and your access to tools at the start? A service provider confident in its quality does not need to lock you in - with us, it is without a minimum duration with 30 days' notice, and this should be a market standard.

Criterion 4 — Continuity of service

An independent CFO, alone, cannot fall ill or go on vacation without your finance function stopping. A firm must be able to answer: what happens if our CFO is unavailable? Who knows the file second? Is peer review part of how it works?

Criterion 5 — Sectoral adequacy

A great industrial CFO can get lost in SaaS metrics, and vice versa. Check the references on your sector and your stage — not the client's logo, the nature of the mission. Our page Fractional CFO by sector explains what specialization actually changes: the assigned profile, not the price.

Questions to ask during a meeting

• Who will come to my house, and can I meet them before signing?
• What is included in the package, and what triggers an addendum?
• What is your notice of departure, and what do you get back when you leave?
• What happens if my CFO is unavailable for a month?
• On what missions comparable to mine have you been involved, and what can I check?

Warning signals

Tariff opacity. A firm that refuses to explain its grid before the sales meeting will do the same thing to you during the mission. A public grid — like our page Fractional CFO prices — is not a marketing argument, it is a transparency test.

The unreserved promise. A “guaranteed start within 48 hours”, a “guaranteed” economy, a promised numerical result before having seen your accounts: finance cannot be guaranteed on a brochure. Beware of round numbers without method.

Contractual locking. 12-month commitment tacitly renewable, 3 months' notice, exit penalties: these clauses indicate a firm that retains its clients through the contract rather than through the service.

What if the correct answer wasn't a firm?

Be honest about your need. For a one-off three-month mission on a specific subject, an experienced freelancer may be sufficient. For an urgent full-time replacement, this is a Interim CFO. The retainer cabinet makes sense when the need is recurring and continuity matters — this is the format part-time CFO, described on our page External CFO.