What do you need to know about a Portfolio FD?
When I started working as a Portfolio FD I thought everyone would know what one was and what they did. It turns out I was wrong, so I have written this to help answer a lot of the questions I have been asked on my journey so far.
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What is a Portfolio FD?
A Portfolio FD (Finance Director) is a professional who provides part-time or interim financial director services to multiple businesses, offering strategic financial guidance, oversight, and expertise without being a full-time employee.
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What services do you offer as a Portfolio FD?
We offer a range of services including financial sounding board, financial planning, budgeting, cash flow management, financial reporting, strategic advice, risk management, and more tailored to your business needs.
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Isn’t a Portfolio FD expensive?
A full time Finance Director would cost in excess of ￡100k plus on costs per year.? A Portfolio FD can be hired at a fraction of that cost, so you get the expertise and only pay for the level of support you need.
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How does hiring a Portfolio FD benefit my business?
Hiring a Portfolio FD provides access to high-level financial expertise without the commitment of a full-time hire. You get specialised skills and strategic guidance as needed, cost-effectively.
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What types of businesses do you work with?
We work with owner managed businesses, typically between ￡1M-￡20M turnover. We specialise in working with FMCG companies and those that operate on a subscription model.
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How do you determine the scope of work for my business?
Our process begins with a discovery call to understand a bit more about you and your business, along with the support you require. We tailor our services to match your specific requirements, ensuring a customised approach.
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Are your services scalable as my business grows?
Absolutely. Our services are flexible and adaptable, designed to grow alongside your business. Whether you're scaling up or experiencing changes, our support can be adjusted accordingly.
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Can you work with our existing finance team or accountant?
Yes, we collaborate closely with existing teams and professionals to complement their efforts, offering additional expertise and guidance where needed.
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How do you ensure confidentiality and data security?
Client confidentiality and data security are paramount to us. We adhere strictly to industry standards and have robust protocols in place to safeguard your sensitive information.
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What is the typical duration of engagement with your services?
The duration varies based on individual client needs. We offer flexible engagement terms, from short-term projects to ongoing part-time support, adapting to your requirements.
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What are your fee structures or billing methods?
Our fee structures are transparent and tailored to the services you require. We offer competitive rates and flexible billing methods suited to your preferences, whether hourly, project-based, or retainer.
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How do I get started with your services?
email [email protected] or send us a message on LinkedIn and we can get a chat booked in. We'll discuss your needs and tailor a solution that aligns with your business goals.
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11 个月Great article ??
Awesome Accountant for SMEs & Start ups | QuickBooks | FD | Mentor to CIMA Accountants ??
12 个月Hi Ben What are FMCG companies? What would be a typical fee to hire a Finance Director to attend a virtual 3 hour board meeting once a quarter on an ongoing basis? Straight forward trading company with ￡1M turnover operating in the UK. The first time of hiring can be a bit daunting and price is always a question that is raised. As an illustration of some of the benefits, here are some of my examples: I attended a face 2 face board meeting and identified ￡20k of tax savings at the first meeting. We have gone on to finish long-term projects that had stalled. We are are working on improving the financial reporting process to move from quarterly accounts to monthly management accounts. In 2024 we will be developing a system to capture and report ESG data. I have read biographical stories of failed businesses and often the comment made on reflection is that the business may have survived if the owner had done monthly management accounts and reviewed the figures more rigorously. Reviewing the accounts allows the board to consider risks, discuss opportunities, and identify threats and weaknesses earlier..If the board dynamics are good then the process alows improved decisions making and long-term success.
Sales Manager | Expert in Cybersecurity & Cloud Solutions
12 个月That’s really helpful Ben Westerby I think everyone is guilty of assuming their clients/prospects understand the basics of what they do because they live and breathe it! Taking the time to break it down jargon free shows a genuine desire to help and support!
Finance Director at RACE FD SOLUTIONS LIMITED
12 个月That’s great Ben so many benefits of a part time FD!
An experienced finance leader with time served in the manufacturing, distribution and FMCG sectors, including multiple transactions and external funding activities.
12 个月Great article Ben, clear and concise for any MD/CEO considering using a Portfolio FD…??