Key Takeaways
- CFOs are expected to be more than financial stewards — they are strategic partners.
- Trust-based leadership transforms relationships across the business and increases loyalty and organizational growth.
- Leading with vision, vulnerability and engagement are actionable behaviors that set CFOs apart and create value — differentiating themselves from “doers” to leaders.
Driven by a changing economic landscape influenced by rising inflation, rapid AI adoption, and geopolitical tensions, among other factors, the role of the chief financial officer (CFO) is also undergoing a significant transformation.
According to Cherry Bekaert’s 2025 Middle Market CFO Survey, 55% of CFOs expect finance to become a more integrated and strategic partner throughout their organizations. CFOs are no longer confined to the back office. This shift reflects the increasing expectation for CFOs to drive enterprise value, support company growth and lead digital transformation efforts.
However, to succeed as both a financial steward and a strategic advisor, CFOs must develop the ability to lead with trust.
From Transactional to Transformational Leadership
Traditionally, CFOs have established credibility through technical expertise, accuracy and reliability. While these qualities remain important, they are no longer enough. With budgets tight and teams lean, organizations now need financial leaders to be strategic partners who support critical business decisions by providing value and insights through:
- Profitability (cost optimization, outsourcing, operational efficiency)
- Financial planning and data analytics (budgeting, forecasting, KPIs, performance analysis)
- Key stakeholder engagement (change management)
The CFO role must evolve from task-focused execution to leadership built on trust through people-first behaviors such as sharing insights, consistent follow-through and empathy. Trust-based leadership elevates relationships with employees, colleagues and customers from transactional to transformational, unlocking loyalty, innovation and long-term value.
|
Transactional |
Transformational |
| Reacting to issues | Anticipating needs |
| Sending information | Synthesizing insights |
| Asking for updates | Offering perspectives |
| Taking orders | Shaping decisions |
This is the difference between being a “doer” and a leader — between reacting to issues and proactively shaping the organization's future and being seen as a trusted advisor.
The Trust Equation for CFOs
David Maister, Charles M. Green and Rob Galford, authors of 'The Trusted Advisor,' introduced a powerful framework for assessing trust in business relationships — understanding what key stakeholders (CEO, C-suite peers, board members and investors), employees, and customers need to trust your leadership, as well as where there might be gaps.
Trust = (Credibility + Reliability + Intimacy) / Self-orientation
|
Element |
Definition/ |
In Practice |
| Credibility | Sharing insights, not just facts | “You know what you’re talking about.” |
| Reliability | Consistent follow-through | “You do what you say you’ll do.” |
| Intimacy | Listening, empathy and vulnerability | “I feel safe being honest with you.” |
| Self-orientation | Putting others first, not your own agenda | “Are you focused on you — or on me/the business?” |
For CFOs, this means going beyond just the numbers to build authentic, strategic relationships across the organization by leading with vision, vulnerability and engagement.
3 Leadership Behaviors That Build Trust in Leadership
1. Leading With Vision
CFOs must align the finance function’s purpose with the organization’s goals through vision alignment statements and shared roadmaps.
Vision Alignment Statements
CFOs should clearly articulate what success looks like, together with other leaders in the organization. For example, when aligning with the CEO, “I want to help you look through the windshield, not just the rearview mirror.”
Shared Roadmaps
CFOs should proactively plan and communicate the journey ahead, from short-term to long-term and other strategic planning initiatives. This shifts the relationship from reactive to proactive, and from “doer” to trusted partner. Proactivity throughout the year enables CFOs to adjust and respond quickly to growth opportunities, risk events and strategic decisions.
2. Leading With Vulnerability
Vulnerability is a strength, not a weakness. It’s about being honest about limitations, mistakes and real-time learning. For CFOs, this could mean:
- Admitting when a forecast was off and explaining the plan to course-correct.
- Owning up to a process misalignment and inviting input to improve.
- Sharing lessons learned from failures as well as successes.
- Creating a space for open dialogue so sensitive issues can be raised proactively.
When CFOs lead with transparency instead of defensiveness, they foster dialogue, deepen trust and model the courage needed for organizational change.
3. Leading With Engagement
Trust is built through consistent, intentional engagement. CFOs should:
- Communicate Consistently: Set clear expectations and follow through.
- Actively Listen: Ask questions, seek feedback and clarify before acting.
- Seek Feedback Regularly: Engagement is a two-way dialogue, not a monologue.
Tools like engagement templates, communication cadence plans and meeting recap templates can help CFOs institutionalize these behaviors.
Practical Steps for CFOs To Build Leadership and Trust
- Reflect on Your Relationships: Where are you still acting as a “doer”? How can you show up as a leader instead?
- Assess Your Own Trust Equation: Evaluate your credibility, reliability, intimacy and self-orientation with key stakeholders.
- Map a Trust Plan To Employ Leadership Behaviors: For your top relationships, identify how you can lead with vision, vulnerability and engagement.
The Trust Payoff: Strategic Partnership and Value Creation
Imagine the impact if every relationship within your organization and customer base began with leadership instead of logistics… Your value would be clearer, stakeholder loyalty would grow stronger, and proactive, strategic conversations would become standard, paving the way for CFOs to boost organizational resilience, profitability and operational efficiency.
When CFOs lead with trust, it isn’t just the display of a soft skill; it’s the ultimate competitive advantage.
Ready To Lead With Trust? We Can Help
Building trust with stakeholders and other relationships across the organization takes time, focus and intentionality. Cherry Bekaert helps CFOs create that space by taking care of the day-to-day finance function — whether through finance transformation or outsourced accounting services. We can help you:
- Modernize Finance Without Distraction: Our Finance Modernization services align people, processes, data and technology, accelerating decision velocity and embedding finance into enterprise strategy. We handle the complexity so you can focus on shaping vision and building trust.
- Outsource the Grind, Elevate Your Impact: Through Outsourced Accounting, we provide scalable solutions and specialized knowledge and experience to manage your day-to-day finance operations. From clean data to accurate reporting, we deliver confidence in the numbers so you can free your team to focus on high-value activities.
Start your journey today to position yourself as the strategic advisor your organization needs to thrive in today’s competitive business environment.
