Client Case Study – Financial Services – Alberta

Client Snapshot

• Alberta‑based independent financial services firm headquartered in Edmonton, serving both residential and commercial clients.

• Grew from 2 to 10 employees over the engagement period, with mid‑six‑figure service revenues plus additional commercial rental income.

• Transitioned from an early growth phase with limited financial structure to a more mature, scalable operation.

• Ongoing monthly fractional CFO and advisory engagement since 2020, with services expanding as the business scaled.

The Situation (Before)
When the engagement began, the firm was growing quickly but operating with limited financial visibility and significant compliance risk. The owner was building volume and taking on major transactions, but lacked a clear view of profitability, tax exposure, or how personal and corporate finances interacted.

• CRA risk due to outstanding GST returns and a history of non‑compliance.

• No structured insight into financial performance, cash flow, or tax consequences of major decisions.

• Complex items like a luxury company vehicle and a HELOC‑financed asset without proper tax treatment or tracking.

• Shareholder loan account not actively managed, increasing the risk of unexpected tax consequences.

• High stress at year‑end, with the owner feeling “in the dark” and worried about potential CRA issues.

Our Approach
The engagement started with a full clean‑up of the books, then evolved into an ongoing monthly fractional CFO relationship aligned with the firm’s growth trajectory. The focus was on getting compliant fast, creating reliable financial information, and then layering in decision‑quality insights and cash discipline.

Once the foundation was in place, the work shifted toward proactive planning: tightening expenses, clarifying owner compensation and shareholder transactions, and building simple tools for the owner to understand profitability, cash, and tax in real time. This allowed the business to scale headcount and volume without losing control of the numbers.

• Cleaned up all historical bookkeeping and brought ledgers into alignment with year‑end financial statements.

• Implemented structured payroll and T4A reporting so staff and commission or fee payments were compliant and trackable.

• Corrected and restructured transactions, reducing risk and negative tax consequences, and properly captured interest on the HELOC used to acquire assets.

• Actively managed the shareholder loan account to avoid unintended taxable benefits and to keep credit balances under control.

• Implemented a system to attach bills and receipts to all transactions, improving audit‑readiness and internal oversight.

• Brought GST and corporate tax filings up to date and on schedule, moving the business into full compliance.

• Introduced a simple KPI pack, cash buffer target, and ongoing tax‑planning rhythm aligned with the owner’s long‑term goals.

The Results
From non‑compliant and flying blind to bank‑ready financials, strong retained earnings, and a clear, scalable path toward seven‑figure revenue.

• Net income increased by roughly 2–4x over the engagement period, supported by disciplined expense management and better decision‑making.

• Cash balance improved by a six‑figure amount, giving the firm a meaningful buffer to invest in hiring and growth.

• The company shifted from deficit to strong retained earnings, building real equity in the business.

• Tax surprises were dramatically reduced through timely GST and corporate filings and better planning around shareholder transactions.

• Books became cleaner and year‑end turnaround faster, lowering professional fees risk and freeing up management time.

• The business gained the confidence to scale from 2 to 10 employees while staying on track for seven‑figure gross revenue in fiscal 2026.

• The owner developed the confidence to talk to banks and other stakeholders using clear, accurate financial reports.

• Ongoing alignment of tax planning with long‑term goals supported more consistent owner compensation and reinvestment decisions.

Client Voice
“Before we started working together, I honestly didn’t know what the shit was going on with my numbers or my taxes.”
“Now I have an ally that I can communicate with regularly and guess what? I now know what the shit is going on! Having a local fractional CFO in Edmonton means I can make decisions quickly without worrying I’ve missed something big.”

Why It Matters for Alberta Businesses
Many Alberta owner‑managed businesses grow faster than their financial infrastructure, which creates compliance risk, tax surprises, and constant stress at decision time. Working with a strategic fractional CFO turns messy, backward‑looking books into a forward‑looking, decision‑ready financial system that supports hiring, investment, and financing conversations with confidence—going far beyond basic compliance accounting to become a true long‑term partner in growth.