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Why Family Business Succession Fails (and how to fix it)
AAB / About / Our Team / Office of the CFO / Jen Armstrong
Office of the CFO Senior Manager
Family-owned businesses. SMEs. Start-ups.
Finance transformation. Financial oversight. Process improvement. Reporting clarity. Strategic insight.
“UNDERSTANDING PEOPLE IS JUST AS IMPORTANT AS UNDERSTANDING THE NUMBERS.”
Based in our Edinburgh office, Jen Armstrong is a Senior Manager in AAB’s Office of the CFO team, supporting growing businesses that need experienced financial leadership without the need for a full-time in-house team. Her role is varied, dynamic and centred on helping organisations build finance functions that truly support their growth. A typical week might include overseeing month-end processes, managing recurring finance activities, reviewing financial systems or supporting clients with one-off projects such as implementing improved controls, redesigning processes or introducing new reporting frameworks.
Jen was drawn to this career path because it combines technical accounting expertise with problem-solving and relationship-building. Her journey is particularly unique because before joining AAB, she experienced the Office of the CFO service from the other side – as a client. That perspective gave her a clear understanding of the pressures businesses face and the real impact that a strong finance function can have. Seeing first-hand how the right financial support could transform a business inspired her to pursue a career delivering that same level of support for others.
Today, she brings both technical expertise and genuine empathy to her work, helping clients feel confident, supported and in control of their finances.
“One of the most important aspects of my role is building strong, genuine relationships with clients. For me, it always starts with putting myself in their shoes. I want to understand what pressures they’re facing, what their priorities are and where they want their business to go.
My aim is never to feel like an external adviser who only appears at reporting deadlines. Instead, I want clients to see me as a natural extension of their own team. When we work in that way, communication becomes easier, challenges are addressed quicker and the finance function becomes something that actively supports the business rather than slowing it down.”
“I once worked with a client who had moved from another accounting firm after their previous relationship hadn’t worked out. They felt disconnected from their adviser and questioned whether they were getting value from the service. Rebuilding trust was essential. I spent time listening, understanding their concerns and learning how they preferred to work. Once that personal connection was in place, the professional relationship became much stronger. Moments like that reinforce why relationships matter so much in this role.”
“One of the biggest strengths I bring to my work is the perspective I’ve gained from both sides of the relationship. Before joining AAB, I worked in industry for a business that used AAB’s Office of the CFO service. That experience gave me a clear view of what it feels like to rely on an outsourced finance function.
Because of that, I’m always thinking about what I would have valued as a client – clear communication, reliability, transparency and support that’s genuinely tailored to the business. It drives me to deliver a service that feels collaborative and dependable.”
“Many of the businesses we work with come to us at a key turning point. Rapid growth, evolving teams or changing priorities can create pressure on internal finance processes. Often, we’re stepping into situations where systems aren’t fully established, reporting is inconsistent or teams feel overwhelmed.
My approach in these situations is to break the challenge down into manageable steps. I focus on identifying quick wins that can immediately reduce pressure while also putting stronger long-term processes in place.
Recently, I worked with a client that had grown quickly but didn’t yet have formal finance processes in place. This created delays and limited visibility over their financial performance. By introducing structured processes – including purchase order controls, approval workflows, a monthly reporting timetable and a cashflow forecasting model – we transformed how their finance function operated. The result wasn’t just better processes, but clearer insight and stronger decision-making across the business.”
“Early in my career, I trained in audit before moving into an industry role. That transition was challenging because the nature of the work is completely different. In audit, you’re reviewing information from a distance. In industry, you’re responsible for producing the numbers yourself while balancing multiple competing priorities.
That experience gave me a much deeper understanding of what finance teams deal with every day. I saw first-hand the importance of efficient processes, reliable systems and clear financial insight.”
“One of the most rewarding aspects of working at AAB is the collaborative culture. Within the Office of the CFO team, there’s a strong focus on sharing knowledge and supporting each other. That collective expertise means we’re able to provide well-rounded solutions for clients.
Across the wider organisation, there’s also a genuine commitment to continuous improvement. We’re encouraged to challenge ideas, explore new approaches and develop solutions that deliver real value for businesses.
For clients, that means access not just to one adviser, but to the strength of a wider team that’s always looking for better ways to support them.”
“The finance profession is evolving rapidly, and I’m particularly interested in how technology can improve the way finance functions operate.
Automation tools and data visualisation are areas I’m keen to continue developing, as they can significantly improve reporting efficiency and clarity. When financial information is presented clearly and in real time, it allows business leaders to make faster, more informed decisions.
I’m also interested in enhanced forecasting tools and the role AI will play in supporting finance teams in the future. These technologies have huge potential to free up time for more strategic work – which is where finance teams can add the greatest value.”
“A common misconception about accountancy is that it’s all about maths. Yes, numbers are involved, but the real skill lies in understanding businesses, solving problems, communicating clearly and helping our clients make informed decisions. It’s about interpreting financial data – not just calculating it.”
“The most satisfying part of my role is knowing that our work genuinely makes a difference. Whether it’s improving a process, providing insight that informs a major decision or simply giving someone peace of mind about their finances, those moments are incredibly rewarding.
One of the greatest compliments I’ve received from a client was when they said they wished I worked within their own team. For me, that captures exactly what I strive to achieve – being someone clients trust, value and enjoy working with.
Ultimately, my goal is simple: to help businesses feel confident in their financial foundations so they can focus on what they do best – growing, innovating and building something meaningful.”
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