Knowledge and Insights

How to Find an Outsourced CFO in New Jersey & New York

Graphic showing a Business Owner juggling many things needing an Outsourced CFO to assist

An outsourced CFO brings a great deal of value to your business. If you feel overwhelmed by the demands of your business’s finances or feel you are lacking strategic vision, working with a knowledgeable, reliable accounting firm that provides outsourced CFO services can help you get out of the weeds and into a position of strategic growth and financial strength.

The landscape of CFO outsourcing is changing. Increasingly, businesses are moving away from hiring independent consultants as outsourced CFOs toward more holistic outsourced CFO services offered by established accounting firms. These services typically leverage proven frameworks and resources on a monthly subscription or fractional basis.

If you need help navigating the process of finding the right outsourced CFO for your business, we’ve created this step-by-step guide just for you.

Mercadien’s forward-thinking, relationship-driven outsourced CFO services are designed to help you achieve and exceed your goals. Reach out today for a free consultation.


Before starting your search for an outsourced CFO service, you should first assess exactly what you need from the engagement. What pain points prompted you to seek an outsourced CFO? Does your business need overall financial guidance, process and technology optimization, or strategic financial planning and advice? Maybe you have not been getting meaningful financial reports, or they aren’t timely, suggesting something’s amiss in your accounting department.

This process will help determine the scope and scale of the CFO services your business requires.

While assessing what you need from an outsourced CFO, you should also establish the budget you have to spend and your business’s level of readiness for bringing in an external CFO.

Are you organized enough to provide the outsourced CFO with all the necessary information they need to determine how they can best assist you? Do you have easy access to past and current financial information? Do you have a grasp on the tasks and processes the CFO will need to know? Do you have clear, defined workflows for your financial tasks?

These are all critical questions to ask to maximize your time with an outsourced CFO. To answer them, don’t be afraid to check in with members of your team who spend more time on day-to-day finance and accounting tasks. If you and the team can’t easily articulate process and data storage, you may need the new CFO firm to perform an assessment to better determine your accounting and CFO needs.


Once you understand what you need from an outsourced CFO, refine your search criteria to incorporate the characteristics you’ve identified as non-negotiable, such as:

  1. Desired Qualifications: Do you want an outsourced CFO with knowledge of a specific industry, growth stage, or set of challenges? For example, you may need someone with mid-market experience or an outsourced CFO immersed in the start-up world.
  2. Industry Expertise: If you’re in the non-profit or human services sector, a partner with experience in the specific challenges of that industry would be advantageous. If you are a rapidly growing tech startup, a firm with experience working with high-growth companies might be a great fit. Hiring an outsourced CFO with expertise in your specific industry will not only help tackle unique challenges, it also ensures your organization stays up-to-date on relevant trends and other factors that might impact your organization.
  3. Geographic Considerations: If face-to-face collaboration is important to you, you should find a local firm that offers outsourced CFO services. Mercadien has offices in New Jersey and Philadelphia, making us the perfect partner for companies in New Jersey, New York, and Pennsylvania. However, with the sophisticated technologies available today, many firms, including Mercadien, are equipped to provide these services remotely and work with businesses all over the country.


Now it’s time for research. Let’s discuss everything you should consider when scouring accounting firms’ websites.


Search online or ask peers for references to find the best options for outsourced CFOs near you. Spend some time on each company’s website–see which industries they work in and the services they offer, read through their blog, and download any case studies or whitepapers to decide if you think they are a good fit.


Once you’ve researched your options, it’s time to narrow down your list. Compare each firm’s qualifications, offered services, and pricing. Work closely with your potential vendors to ensure they’re able to fulfill all your needs and are willing to create a bespoke service tailored to your business. If you are currently scaling your business, determine whether potential candidates have the capacity to scale with you. Check out their mission and vision statements and ensure they align with yours.


During the interview process, you should refer to a prepared list of questions that will help you evaluate each of your candidates. Here are some questions to consider to ensure they understand your business and goals.

  • How do you ensure our financial reporting will be accurate and timely?
  • What is your approach to financial strategy? Do you err on the conservative side or have an aggressive approach?
  • How can you help us anticipate and mitigate financial risks?
  • What steps would you take to make us more financially efficient?
  • How do you determine a company’s financial health?
  • How will you contribute to our growth?

Don’t just look for technical competence at this stage – that’s table stakes. Make sure potential partners truly understand your business model as well as your goals and show commitment to building a long-term relationship with you. An outsourced CFO is a partner you’ll ideally work with over a number of years, and finding a firm that’s a cultural fit for your team is central to your success.


Once you’ve considered several candidates, you should assess their alignment with your needs.

Does the proposed scope of work include everything you asked for? Is the pricing fair for the deliverables that are being proposed? Will their work meet your business goals?

Be ruthless in your vetting process–weigh all the gathered information, compare firms on the factors most important to you, and make an informed decision based on your conclusions.

Once you’ve determined the best option, ask any necessary clarifying questions and negotiate the contract terms, including the length of the contract, monthly deliverables, and expected communication and reporting cycles.

Once both parties agree on all terms, you can sign the contract and start with your outsourced CFO.


When you begin your search for an outsourced CFO, you should assess your business needs, define your search criteria, conduct research and create a shortlist, interview and evaluate each candidate, and review proposals, all before making your selection.

Thorough vetting is crucial in this process. The outsourced CFO you select will be a long-term strategic partner and a key member of your team, and it’s important they’re a strong technical and cultural match for your business.

Mercadien’s outsourced CFO services are cost-effective, flexible, and expertise-driven.

By tapping into our vast knowledge base and decades of experience in accounting, you can focus on your core business operations while driving growth with a strategic advisor on your side.

Start your search for an outsourced CFO with Mercadien. Contact us today for a consultation.

DISCLAIMER: This advisory resource is for general information purposes only. It does not constitute business or tax advice and may not be used and relied upon as a substitute for business or tax advice regarding a specific issue or problem. Advice should be obtained from a qualified accountant, tax practitioner or attorney licensed to practice in the jurisdiction where that advice is sought.