What is Preferred CFO?
Preferred CFO is a Utah-based fractional CFO and HR services firm that pairs growing businesses with experienced financial leaders. They offer outsourced CFO consulting, virtual CFO, and external CFO services alongside HR solutions including recruiting, benefits administration, and payroll. Founded in Utah, they serve clients across the US and Canada with both financial and HR solutions under one provider.
Who It's For
Preferred CFO targets businesses across industries and growth stages seeking financial leadership without the cost of a full-time executive. Their sweet spot is companies that need controller-level support, financial strategy, and transaction readiness but are not ready for a $350K+ full-time CFO salary. They particularly appeal to businesses that want both CFO-level finance AND HR services from a single provider, making them useful for companies reorganizing their back-office functions.
Their typical client has 10-100 employees, $2M-$20M in revenue, and needs strategic financial guidance alongside operational HR support. They're a fit for companies preparing for fundraising, due diligence, or an exit that need seasoned financial leadership to clean up their act.
Preferred CFO is less ideal for very small businesses needing only basic bookkeeping, or large enterprises requiring a dedicated in-house CFO with full-time availability. Companies needing highly specialized industry expertise (e.g., deep healthcare or fintech finance) may also look elsewhere.
Services Offered
Fractional CFO Services: CFO consulting, virtual CFO, external CFO, SaaS CFO, and temporary/contract CFO arrangements
Financial Controller Services: Oversight of accounting operations, financial reporting, and internal controls
Strategic Financial Services: Capital raising preparation, systems strategy, and transaction advisory
HR Solutions: Outsourced HR, recruiting, benefits administration, and payroll services
Startup & Small Business Services: Financial guidance tailored to early-stage companies
Preferred CFO's dual focus on finance and HR is distinctive—they position themselves as a one-stop shop for both CFO-level finance and HR infrastructure. This bundled approach can simplify vendor management for companies that want to consolidate their back-office relationships.
Pricing & Plans
Preferred CFO does not publicly disclose pricing on their website. Based on industry benchmarks for fractional CFO services of this caliber, engagements typically range from $3,000-$8,000/month depending on company size, complexity, and hours required.
Their website notes that fractional CFO services represent a fraction of the cost of a full-time CFO (which averages $350,000+ in total compensation). HR services are typically billed separately or bundled based on engagement scope.
They offer a free initial consultation to assess needs before proposing an engagement structure. Contact: info@preferredcfo.com or (801) 804-5800.
Key Strengths
Dual Finance + HR Focus: Preferred CFO stands out by bundling CFO-level finance with HR services. Companies that need both strategic finance and HR infrastructure can often consolidate vendors here, reducing coordination overhead.
Geographic Flexibility: Based in Salem, Utah but serving clients nationwide across the US and Canada, they bring a regional practicality to their service delivery that appeals to non-coastal businesses.
Decades of Experience: Their messaging emphasizes deep experience across diverse industries, which can translate to faster ramp-up and fewer rookie mistakes when navigating complex financial situations.
Transaction Readiness: They have specific experience preparing companies for fundraising, due diligence, and exit processes—useful for founders who know they need to clean up their financials but don't know where to start.
Flexible Engagement Models: Whether you need a virtual CFO for 10 hours/month or an on-site CFO for a defined project, they offer multiple engagement structures to match need.
Common Criticisms
Pricing Opacity: Like many fractional CFO firms, Preferred CFO does not publish pricing, requiring prospects to schedule consultations just to understand cost. This makes competitive comparison difficult and can surprise companies with tighter budgets.
No Dedicated CFO Model: Some clients report that with lower-tier engagements, they may not get a dedicated CFO who knows their business deeply—some fractional arrangements spread CFO attention across multiple clients with limited bandwidth per engagement.
HR Quality Varies: While bundling HR and finance can be convenient, HR services (recruiting, benefits administration) may not match the quality of specialized HR firms. Companies with complex HR needs may find the offering surface-level.
Limited Public Client Proof: Unlike some competitors with detailed case studies and named client logos, Preferred CFO keeps a relatively low profile, making it harder to assess track record or industry-specific depth.
Service Scope May Be Thin for Complex Needs: For companies requiring deep FP&A, treasury management, or complex multi-entity accounting, Preferred CFO's breadth-first approach may lack the depth of more specialized firms.
How It Compares to Eagle Rock CFO
Service Depth: Eagle Rock CFO provides a complete finance office—not just fractional CFO hours, but the full stack: accounting, controller, treasury, and CFO/FP&A. Preferred CFO bundles finance with HR, but Eagle Rock's finance depth is broader, covering the complete accounting close cycle, cash management, and board reporting through our outsourced accounting services, controller services, and treasury management."
Team vs. Individual: Eagle Rock provides a team (accountants, controllers, CFO) rather than a single fractional CFO. Preferred CFO's model can feel like hiring one experienced finance person rather than a full office. For companies needing more than one person's bandwidth, Eagle Rock's team model scales more naturally.
Industry Specialization: Eagle Rock CFO's positioning targets established businesses ($5M-$50M revenue) across PE-backed, founder-led, and family-owned segments with specific expertise in these contexts. Preferred CFO's broad "decades of experience" positioning is less specialized.
Transparent Engagement: Eagle Rock CFO's engagement model is designed around embedded, ongoing partnership rather than hourly fractional arrangements. Companies get consistent CFO availability and integration with their accounting and controller work, rather than project-based or limited-hour engagements.
HR Bundling: Preferred CFO's unique value is bundling HR services with finance. Eagle Rock CFO focuses exclusively on the finance office—which some companies prefer, as it keeps the finance function focused and avoids mixing HR complexity with financial strategy through our outsourced accounting services, controller services, and treasury management."
Key Takeaways
- •Preferred CFO is best for companies that want both CFO-level finance AND HR services from a single vendor, particularly businesses between $2M-$20M seeking to consolidate back-office vendors.
- •Their pricing typically ranges $3,000-$8,000/month for fractional CFO services, but must be confirmed through consultation as nothing is publicly listed.
- •The dual-focus model (finance + HR) is a genuine differentiator for companies that want one relationship instead of many, but may sacrifice depth in either area.
- •They serve clients nationwide from their Utah base, making them accessible to non-coastal companies that may feel ignored by coastal-centric finance firms.
- •For companies with more complex needs—multi-entity, PE-backed, or requiring treasury management—the breadth of Eagle Rock CFO's full finance office model typically provides more comprehensive coverage.
- •Their transaction readiness experience (fundraising, due diligence, exit prep) is a genuine strength for companies at those inflection points.
Frequently Asked Questions
What does Preferred CFO cost?
Preferred CFO does not publicly disclose pricing. Industry benchmarks suggest engagements typically range $3,000-$8,000/month depending on company size and engagement scope. They offer free initial consultations to assess needs and provide custom pricing proposals.
Where is Preferred CFO located?
Preferred CFO is based in Salem, Utah (478 S 100 E, Salem, UT 84653) but serves clients across the US and Canada remotely.
What industries does Preferred CFO serve?
Preferred CFO serves businesses across diverse industries without specific vertical specialization. Their team brings decades of combined experience across broad industry categories.
How is Preferred CFO different from a full-time CFO?
A fractional CFO (like Preferred CFO) provides senior financial leadership on a part-time basis at a fraction of the cost of a full-time CFO. A full-time CFO might cost $350K+ in salary plus benefits and equity; a fractional arrangement typically runs $3,000-$8,000/month for equivalent strategic guidance.
Does Preferred CFO also provide HR services?
Yes. One of Preferred CFO's differentiators is bundling CFO-level finance services with HR solutions including outsourced HR, recruiting, benefits administration, and payroll. This is designed to let companies consolidate their back-office vendors.
How do I know if Preferred CFO is right for my company?
Preferred CFO is best suited for companies with $2M-$20M revenue that need CFO-level strategic guidance but aren't ready for a full-time executive. They're particularly useful if you also have HR needs you'd like to bundle. If you need a complete finance office (accounting + controller + CFO + treasury), or have PE-backstory or complex multi-entity needs, you may benefit from a broader service provider.
Does Preferred CFO help with fundraising or exit preparation?
Yes. Preferred CFO's service offerings include capital raising preparation and transaction advisory, helping companies prepare financial models, data rooms, and due diligence materials for investors or acquirers.
How does Preferred CFO's model compare to Eagle Rock CFO?
While both provide fractional CFO services, Eagle Rock CFO provides a complete finance office (accounting, controller, treasury, and CFO/FP&A) as an integrated team. Preferred CFO bundles finance with HR services. Eagle Rock's model is typically more comprehensive for established businesses with complex financial needs.
See our outsourced controller services and accounting services for what that includes.