Successful organizations of all sizes rely on a Chief Financial Officer as a key member of the executive management team. A business CFO has four key functions:

  • Objective measurement and reporting of business performance
  • Strategic business planning and forecasting
  • Trusted coordination of all administration
  • Allow the CEO/COO to focus on the organization

The CFO sees all facets of the organization, understands how they interact and impact each other, and how it all comes together, allowing the CFO to implement a vision. The family office requires the same key member to help coordinate the functions that are vital to the family’s success. The Family CFO can objectively measure and report on performance and progress enabling the CEO/COO to run the organization.

Family CFO Responsibilities

The Family CFO coordinates and integrates a range of financial services and functions. As a trusted advisor, the primary function is to report on the financial affairs of the family.

    CFO Systems can provide:

  • Strategic cash management—ensuring cash flows for today and the future
  • Simplified, clear, timely and regular reporting of financial position and progress
  • Objective, historical reporting of true investment performance
  • Objective business and financial advice
  • Integration of estate planning, income taxes, investments, philanthropic goals and family situation
  • Creative solutions resulting from our partnerships with tax attorneys, wealth advisors and financial managers, and estate attorneys
  • Insurance planning to ensure proper levels of insurance and reasonable rates

Benefits of a Family CFO

A Family CFO can provide a family office the same benefits it provides a company. Namely, providing the Family a trusted and dependable resource to manage financial affairs so that the Family can focus on the Family.

  • Objective measurement and reporting of business and investment performance
  • Crisp, efficient and timely reporting of information to the family and its most trusted advisors
  • Creation of STRATEGIC opportunities to REDUCE overall costs and MAXIMIZE overall performance by coordinating efforts across the functional lines of independent advisors