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Fractional CFO Lessons After 5 Years

Five years ago, when I opened a2 advisers, I bought a bottle of bourbon to mark the start. Since then, it has become a bit of a tradition to celebrate each year with a pour.

This year, I spent some time reflecting on five years in business, the original goal I wrote down at the beginning, and what I have learned along the way about building a CAS practice.

That original goal was simple, at least on paper: To contribute $500,000 back to the planet and community by the end of 2026.

I am nowhere near that number. But in many ways, I am closer to its intent than I expected to be at this point.

And that reflection led to a realization that I think applies to most accounting firms trying to build in the CAS space. The things that matter most are not always the things you measure.

What Actually Changed Over Five Years

If you looked at the numbers alone, the story would not stand out. Revenue is actually down about 7.5 percent from my first full year to last year.

That is not typically how firms describe progress. But when I stepped back and looked at the business through the lens of that original goal, the picture changed.

Because progress was not showing up in the top line. It was evident in how the business operated and in what it made possible. More time. Better clients. The ability to build things outside of client work. The flexibility to invest in ideas that have nothing to do with short-term revenue.

The Clients You Take On Will Make or Break You

When I started unpacking why the business's experience improved while revenue slightly declined, one answer kept coming up. The clients you take on will make or break you.

Three of my clients have been with me for the entire five-year journey. Two of them were with me before I ever started the firm. Those relationships became the foundation for everything.

They created stability early on, but more importantly, they created trust. The kind of trust that allows you to operate differently, think long term, and show up as an advisor instead of a vendor.

When you get that right, the relationship changes. It becomes less transactional and more of a partnership. That is where the real upside of CAS lives.

Not All Revenue Is Created Equal

There is one client in particular that shaped the trajectory of my firm in a way that is hard to overstate. That relationship existed before the firm did, and it gave me something most firms spend years chasing: breathing room.

Room to think. Room to build. Room to say no. That space is what allowed me to write, build the newsletter, build FinDaily.io, and now spend time on something completely different with Burning Sage Acres.

None of that happens if every dollar of revenue is tied to constant delivery. This is where most firms get stuck. They treat all revenue as equal.

It is not. Some revenue consumes your capacity. Other revenue creates it.

The goal is not to maximize revenue. The goal is to maximize optionality. And optionality comes from the right clients.

Why the Best Clients Pay More and Ask Less

Over time, it becomes clear that the best clients are not the ones who need you the most. They are the ones who value what you do the most. They are not looking for constant reassurance or reactive support. They are looking for perspective, guidance, and outcomes.

They trust the process. They respect your time. And they understand that what you bring is not measured in hours. They do not just make your firm more profitable. They make it more enjoyable to run.

The Unexpected Return on Relationships

When I think back on the last five years, the highlights are not tied to financial metrics. They are tied to experiences.

Traveling to Africa with a client. Fishing a private trout stream. Meeting people across the world who have become friends.

Those are not things you can plan for. They are the byproduct of working with the right people.

CAS, at its best, creates a different kind of career. One that is defined as much by the people you work with as the work itself.

Anchoring the Firm to Something Bigger

That original goal of contributing $500,000 back by 2026 has ended up shaping more decisions than I expected. We have been contributing 1% of FinDaily's revenue toward carbon removal since the beginning. Time has been invested locally with my girls and community in ways that would not have been possible otherwise.

And the biggest piece today is Burning Sage Acres, where we are restoring farmland to its natural prairie state. The biodiversity of a prairie rivals that of ecosystems like the Amazon, and that work feels like a tangible step toward what the original goal was meant to represent.

None of this is directly tied to revenue. But all of it is tied to how the business was built.

A Different Way to Measure Progress

Five years in, progress looks different. Yes, revenue still matters.

But it is no longer the primary measure. What matters more is this:

Do I work with people I respect and enjoy?
Do I have the freedom to build and explore new ideas?
Am I creating something that aligns with my values long term?

If those answers are yes, the rest tends to take care of itself.

The Practical Takeaway

If there is one thing to take from this, it is simple. Look at your client base honestly.

Not just in terms of revenue, but in terms of alignment, energy, and what each relationship creates in your business.

Which clients give you room to think and operate at a higher level?

Which ones quietly drain your time and limit what you can build?

Then start making decisions. You do not have to change everything overnight. But over time, those decisions compound.

Because eventually, your client base becomes your firm. And your firm becomes your life.

Five years in, that is the part I would get right again every time.

Thanks for reading, Luke Templin!