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A Chief Financial Officer provides an invaluable service to organizations. As an expert in finance management, accounting and wealth management, a CFO can serve as a key advisor in building a company’s financial health. From providing a business accounting service to handling bookkeeping and regulatory compliance, a CFO is a vital consultant and partner in managing financial resources.

With the MyCFO service from 1st Discount Brokerage, all of those skills can be at your fingertips. Whether you are looking for a business accounting service or seeking some specialized assistance in handling your personal financial situation, our MyCFO solution can help.

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How MyCFO Works

The MyCFO service provides individuals with a business accounting service alongside other financial strategy solutions to help them manage both their business and personal lives. MyCFO accountants can handle your financial accounting, and our wealth management and financial planning professionals can function as business and finance consultants.

The service is designed to provide individuals with the knowledge and expertise that applies to their respective scenarios, but in a package managed by our team.

Who MyCFO Is For

Managing complex financial circumstances can be challenging for people in a wide range of life situations. That’s why our MyCFO service is more than a business accounting service. It includes a wide range of services to help you stay on top of your finances, from offering bookkeeping to managing balance sheets.

At 1DB, we are committed to helping clients not only acquire wealth but also to work toward long-term financial health. Our MyCFO services are particularly valuable in this area, and they can be a fit for individuals in a variety of situations, including:

Small Business Owners

Many small business owners obtain significant wealth over the course of their lives, especially if they launch multiple startups that achieve liquidity events. As these entrepreneurs gain wealth and work to run increasingly profitable organizations, they often come across complexity issues that arise when operating at a larger scale.

A business accounting service can handle tax returns, manage payroll services, take charge of financial reporting and otherwise help you stay on top of your finances. Our MyCFO services can help you improve your business and protect your personal wealth through strategic consulting services.


Many entrepreneurs may find themselves running larger organizations at some stages in their careers. In these situations, the complexity of keeping abreast of financial management tasks can become overwhelming. This is even more true if you take on a business – either through purchase or by being hired – that had poor bookkeeping, accounting and tax preparation practices in the past.

Getting a business into solid financial management shape isn’t the only benefit of the MyCFO service, as it also includes consulting in key areas like succession planning and exit strategies.


For some executives, the lines between their work lives and their personal lives are blurred, even when it comes to finances. Between expense management and stock options, the links between an individual’s business assets and personal finances can be close. The MyCFO service can provide personalized insights into how to balance priorities, manage wealth and plan for the future.

MyCFO Is for Anyone With a Complicated Financial Life

Whether you’re a successful small business owner, an entrepreneur, an executive or somebody else who has built wealth over the course of your life, you’ve probably seen how complex it is to manage your finances. Whether it’s dealing with complex tax laws and accounting processes or determining the ideal investment strategies to achieve your lifestyle goals, there’s a great deal to think about.

Our MyCFO service is built to provide personal finance and business accounting services, giving you a trusted advisor for those times in life when the lines between your business and personal finances become complicated.

Services Included in MyCFO

The 1DB MyCFO solution is more than a business accounting service, but the accounting capabilities are a major part of what it offers. In terms of business services, MyCFO includes:

  • Tax accounting: Outsource your accounting services, and MyCFO will handle your business tax returns and preparation.
  • Bookkeeping: A team of accountants will provide bookkeeping services to maintain your balance sheets and simplify reporting.
  • Cash management: From tracking cash flow to overseeing financial statements, the team can provide cash management services.
  • Organizational set up: Whether you want to launch a new business or are looking to rework your business’ org chart, our consultants can help.
  • Outsourcing: Working with third parties can be invaluable, but it’s always a big, complex decision. Our advisors can help you explore your options and make the best decision possible for your situation.
  • Financial analysis: Identifying the underlying trends in your business’ financial life and making decisions accordingly can help you build toward long-term success, and the MyCFO team can help.
  • Consulting: Having an outsider provide objective analysis can be invaluable in identifying opportunities to create value for your business.
  • Employee benefits: Benefits management is often among the more complex tasks business owners and executives must take on. With MyCFO services at your fingertips, you can get help in understanding your options and industry best practices in choosing health care, insurance, paid time off and other benefits.
  • Succession planning: Moving on from a leadership role can be a challenge at the best of times. It is financially complex if you have personal stock or holdings in the business.
  • Exit strategy: How you exit a business you’ve been leading for years can impact everything from stock values to your personal wealth situation. Our consultants can provide insights into how to manage this complicated situation.

When it comes to personal finance management, the MyCFO solution incorporates:


  • Tax accounting: Acquiring wealth can create numerous accounting complications. Our experts can help you navigate these situations and maximize value.
  • Tax return filing: Our team can prepare and file tax returns, providing full personal accounting services.
  • Lifestyle management: Working toward the lifestyle of your choice, either as you gain wealth or plan for retirement, is easier with financial consultants that can help you set goals and take steps toward them.
  • Financial planning: Thinking about long-term needs is critical as you work to build wealth and manage your financial future. Whether you are planning your estate or thinking about college savings for children, the advice of a personal CFO can be invaluable.
  • Retirement solutions: Retirement planning requires careful thought and a deep understanding of specialized investments and account types.
  • Portfolio construction: Building a portfolio is complex and demanding, requiring specialized knowledge to adequately diversify investments.
  • Investment selection: Investment comes with risk, but a consultant and strategic partner can help you minimize risk and maximize returns.
  • Asset protection: As you build wealth, you’ll need to think about how you can protect it.
  • Budgeting: People with complex financial lives have complex budgets. You don’t have to manage that by yourself.
  • Life insurance: Life insurance can serve as a blend of protection for your loved ones and a long-term investment.
  • Wealth management: Wealth is uniquely beneficial, but also uniquely complex. Our team can help you deal with that complexity.

With the 1DB MyCFO services, you can get all of the benefits of a business accounting service and financial consultant for both your personal and business finances.