On this episode of Growing Your Firm, host David Cristello interviews Fred Tate, the Managing Director of CFO Shield. Fred discusses how CFO Shield takes a consultative approach to create tailored solutions for clients, offering fractional CFO services along with bookkeeping and payroll support. 

Fred also emphasizes the importance of understanding and meeting individual client needs, showcasing the unique approach of the firm. Tune in to learn more about how CFO Shield stands out in the industry and prioritizes client service.

What you’ll learn

You will learn about the importance of connecting people together to create an ecosystem, launching a CFO firm, as well as how CFO Shield tailors solutions to specific client needs and provides a variety of services including bookkeeping and payroll.

Guest Bio

Fred Tate is a seasoned professional with a wealth of experience in the financial industry, particularly as the managing director of CFO Shield. With a background as a big company CFO, Fred made the bold decision to venture out on his own and establish CFO Shield, a firm that offers fractional CFO services along with bookkeeping and payroll solutions exclusively on QuickBooks Online.

Fred’s approach to client services is not just about providing advisory or consulting services; he lives and breathes it, ingraining it in the very fabric of his firm. 

He takes a consultative approach with clients, tailoring solutions to meet their specific needs. Fred’s philosophy revolves around building an ecosystem of connections, where he intentionally connects people together to create value for all parties involved.

One of Fred’s key strategies for business growth is his focus on building recurring business and establishing long-term relationships with clients. He values cash flow but places a higher emphasis on recurring business over one-off projects. This approach has allowed CFO Shield to grow steadily, even during challenging times.

Fred’s commitment to innovation is evident in his embrace of automation in the bookkeeping and QuickBooks world. He is at the forefront of leveraging technology to create efficiencies for his clients, ensuring that his firm is positioned to take advantage of emerging opportunities in the industry.

With a client-centric mindset, Fred prioritizes understanding his clients’ businesses and helping them achieve their financial goals. He believes in translating complex financial data into visual reports that entrepreneurs can easily comprehend, empowering them to make informed decisions about their businesses.

Fred’s dedication to providing exceptional client service is reflected in his team structure, where he has carefully curated a team of controllers and bookkeepers who report to a client success manager. This organizational setup allows Fred to focus on business development while ensuring that his clients receive personalized and efficient service.


Building a network of like-minded professionals can be a powerful strategy for generating referrals and driving business growth. In a recent podcast episode, Fred Tate, the managing director of CFO Shield, emphasizes the importance of connecting with other professionals to create an ecosystem that fosters referrals and business opportunities.

Fred highlights the value of the “Go-Giver” approach, where professionals focus on building relationships within their industry. By connecting with like-minded professionals, individuals can establish a network of trusted contacts who are likely to refer clients and business opportunities their way. This network acts as a source of referrals, creating a steady stream of potential clients and growth opportunities for the business.

Fred’s experience demonstrates that investing time and effort in networking and building relationships with other professionals can lead to significant business growth. By actively engaging with others in the industry, sharing knowledge, and making connections, individuals can position themselves as go-to experts in their field. This not only enhances their reputation but also opens up new avenues for collaboration, partnerships, and client referrals.

Overall, the episode underscores the importance of building a strong network of like-minded professionals to create an ecosystem that supports business growth. By nurturing relationships, sharing expertise, and actively participating in the professional community, individuals can leverage their network to drive referrals, expand their client base, and ultimately achieve sustainable business growth.

Prioritizing recurring business over projects can be a strategic approach that leads to sustainable revenue and long-term success for firms. In the podcast episode, Fred Tate, the managing director of CFO Shield, emphasizes the importance of focusing on recurring business as a key element of their business model.

Fred highlights the value of recurring business by mentioning that their first client has been with them for several years. This demonstrates the stability and reliability that recurring clients can bring to a firm. By nurturing long-term relationships with clients, firms can build a steady revenue stream that provides a foundation for growth and success.

Furthermore, Fred discusses the significance of recurring business in terms of cash flow and profitability. By consistently meeting the needs of recurring clients, firms can ensure a steady flow of income and maintain financial stability. This approach allows firms to better plan and manage their resources, leading to more efficient operations and improved financial performance.

Additionally, Fred’s focus on recurring business aligns with his goal of building something bigger than himself. By prioritizing long-term client relationships and delivering ongoing value, firms can establish a strong reputation in the industry and attract new clients through referrals and word-of-mouth recommendations.

The emphasis on recurring business over projects can contribute to sustainable revenue and long-term success for firms. By investing in client relationships, providing consistent value, and prioritizing client satisfaction, firms can create a solid foundation for growth and profitability in the long run.

By incorporating automation in bookkeeping processes and utilizing visual reporting tools, firms like CFO Shield can deliver more efficient and insightful services to their clients. 

These tools not only streamline operations but also enhance the overall client experience by providing clear and actionable financial information. As technology continues to advance, leveraging automation and visual reporting tools will be essential for firms looking to stay competitive and deliver high-quality advisory services to their clients.


[00:03:00] Tailoring services to client needs.

[00:06:24] Client success manager

[00:12:46] Margins in business growth.

[00:15:06] Building business through relationships.

[00:20:00] Building a Strong Team.

[00:25:27] Niche insurance services.

[00:27:37] Automation in bookkeeping.

[00:31:50] Landing cfoshield.com domain

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