Industry Outlook: Financial & Professional

This Industry Outlook is a portion of the 2017 Arizona CFO Spotlight Survey Report

2017 Arizona CFO Spotlight Survey logo

The 2017 CFO Spotlight Survey attracted respondents from a number of industries in Phoenix and Tucson. We will highlight the financial & professional segment here in terms of growth, risk factors, strengths and trends.

Financial and Professional CFOs is a new category in the Survey this year, so we do not have contextual data to compare from last year. We do know that respondents were split pretty evenly between Tucson and Phoenix, and they felt that the economic climate of the state and their city would be the same or better than 12 months ago. Types of companies categorized as financial or professional included banking and investment groups, media, engineers, and consultants. A consistent tax structure and better tax incentives were a concern by just over half of respondents. They also craved skilled talent, regulatory cost reductions, and technology incentives. Competition was the biggest concern for 2017, and therefore CFOs in this industry did not foresee raising rates for services.

infographic: showing 43% of CFOs believe revenue will increase slightly in 2017 vs. 14% that believe it will decrease slightly

Financial and professional companies are open to accommodating for diversity in their employee base and are concerned about reputation management. Eroding profits have an impact on their reputation, and they are turning to increased marketing and technology to efficiently attract and keep business.

AVERAGE SIZE: 266 employees
AVERAGE REVENUE: $33 million

CFO Says: “I am trying to lead with a steady hand. There are lots of moving parts with people wanting to make changes.”


Revenue in 2017

Will increase significantly: 43%
Decrease slightly: 14%

Optimism? 40% very optimistic
20% somewhat uncertain
Access to Cash? Some concerns
Border Security? 73% very little impact
Environmental Issues? 60% small impact
Millennials? Warmer


Top Areas of Focus:

Security Protocols
Traditional and Online Engagement Tools
Continuous Innovation
Owner Retirement/Transition
Reputation Management

CFOs in financial and professional firms are constantly focused on their brand and expanding their client base. Respondents are more open to hiring outside experts than those in other industries.

Contact Us

With offices in Phoenix and Tucson, BeachFleischman helps owners and executives of businesses throughout Arizona (AZ) fulfill their operations needs. If you would like to learn more, please complete the submission form below.

Eric Majchrzak
Eric Majchrzak

Eric Majchrzak is a shareholder and chief strategy officer of BeachFleischman PC.