How to Hire a Fractional CFO in the UK

Step 1: define the outcome, not the role

The most common hiring mistake is shopping for 'a CFO' rather than for an outcome. Write down the three things you want to be true in six months: a forecast you trust, gross margin up two points, a funding pack that stands up to a lender's questions. That list becomes your scope, your shortlist filter and your review criteria.

Step 2: work out the level you need

Not every business needs a CFO. If the problem is that bookkeeping is behind and management accounts are late, a good bookkeeper and a management accountant will fix it for far less. If the problem is that the numbers exist but nobody is turning them into decisions, that's CFO territory.

• Behind on records → bookkeeper.
• Records fine, reporting slow or unclear → management accountant.
• Reporting fine, decisions unclear → fractional CFO.
• Raising money, restructuring or preparing to sell → fractional CFO with that specific experience.

Step 3: where to look

Referrals from your accountant, bank relationship manager or other founders in your sector produce the best hit rate. Beyond that, specialist fractional CFO practices, LinkedIn and industry networks all work. Be wary of general recruitment agencies for fractional roles — they're built for permanent placements and often price accordingly.

Step 4: questions that reveal judgement

Skip the CV walkthrough. Give candidates a real, sanitised extract of your numbers and ask what they'd look at first. Then ask:

• What would you want to change in the first 90 days, and what would you deliberately leave alone?
• Tell me about a client decision you advised against, and what happened.
• How do you work with an existing accountant or bookkeeper?
• What does your monthly deliverable actually look like — can I see a redacted example?
• Who else is on the account, and who do I speak to when something urgent comes up?

Step 5: scope, price and contract

Get scope in writing: named deliverables, how often they arrive, how quickly you can expect a reply between sessions, and what falls outside the retainer. Retainers in the UK commonly run £1,500–£8,000 + VAT a month depending on depth. Expect rolling monthly or quarterly terms with 30–90 days' notice.

Check the practicalities too: professional indemnity insurance, a confidentiality agreement, and clarity on who owns the models and dashboards they build. Agree a review point at 90 days with a short, honest conversation about whether it's working.

Red flags

Be cautious of anyone who quotes a price before understanding your business, who won't put deliverables in writing, who insists on a twelve-month lock-in, who promises specific funding outcomes, or who positions themselves as a replacement for your accountant rather than a complement to them.