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Virtual CFO Services

Virtual Chief Financial Officer

FINANCIAL SERVICES

To achieve ultimate long-term success, Insurance Agency owners need a financial coach to align long-term financial goals with agency operational goals, evaluate progress, and establish accountability for reaching them.  Our goal is to help your agency develop more successful financial plans and execute them so that you can take your agency where you want to go. 

Our Virtual CFO focuses on providing valuable financial data that can be relied on to make sound strategic decisions for your agency. We have no competing agenda and are candid in our communication with you. The cost of hiring a full-time CFO can range from $120,000 to over $200,000 per year plus bonuses and benefits – but our Virtual Chief Financial Officer service provide you with experienced, monthly support at a small fraction of that cost – as little as $500 per month. Our sole purpose is to help your agency achieve financial insight and grow so you will continue to be Angela Adams Consulting Services customers for years to come. 

Our vast experience in Insurance Agency Operations and accounting makes us uniquely qualified to coach you to prosperity.  We understand the financial intricacies of accounting for an Independent Insurance Agent – that is all we do! 

Insurance Agency Financial Compass

Completely customized to address your agency’s financial goals.

Our Compass tool establishes a visual for measuring progress toward long-term financial goals.  Beginning with the profit goal that you set for your agency, we create a compass using your agency’s target spending in sales, service, and overhead.  This means that every agency will have a unique compass based on their agency growth and perpetuation objectives.   

Each month, your agency will have a Compass Coaching session in which data from your management system is analyzed and compared to your goal Compass.   

Guided by the Compass and your VCFO team, you can make sound business decisions for your agency based on actual data.  The Compass visual makes it obvious where decisions need to be made to have the biggest impact on achieving overall goals.  Other areas of specific focus include contingency planning, producer compensation, retention rates, revenue per employee and customer.  We will tailor our coaching to your specific needs. 

The Discussion

Monthly analysis and expert advice based on your agency’s data.

Time is money, and our goal is to help you align business objectives so you can achieve the optimal profit level for your agency.  Beyond reviewing financial statements monthly, our compass coaching method ensures agency management is making day-to-day decisions based on real data from your agency management system,  and aligning actions with established goals.  By creating a routine of short but effective monthly meetings, your team can spot trends, identify issues, and re-chart the course business with ease.  Long-term financial goals are kept top-of-mind, and agency decisions are made in line with progress towards those goals. 

So many of our agencies only work with their CPA at the end of the year at tax time.  Waiting until year-end to review the financial condition of the agency is a problem because there is no opportunity to realign business processes and objectives with overall agency financial goals.   

vCFO Doug Snyder, CPA

INDEPENDENT INSURANCE AGENCY CPA

Doug Snyder is collaborating with Angela Adams Consulting’s vCFO service as the lead CPA where he will be guiding agencies reach their long-term financial success. Doug has over 20 years of experience. Doug owns his own accounting and tax practice that exists to help individuals and small business clients understand and practice financial leadership to support profit, growth, and increasing net worth. He focuses on assisting with accounting services and tax return preparation.

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