Our Services
Fractional & Interim C-Suite Professionals
Dallas Platinum Partners provides solutions for unexpected critical vacancies:
- Chief Executive Officer
- Chief Financial Officer
- Chief Operating Officer
- Chief Administrative Officer
- Chief Innovation Officer
– Prior Engagements –
Interim CFO/Controller Roles
Service provider lacked infrastructure for high-growth sales and support staff:
Implemented ERP, retroactively reported 12 months of financials, designed sales commission and charge-back database in Access, overhauled benefits for $40K+ savings while expanding array, implemented 401k plan and HR interface, converted payroll system, crafted position definitions, matched staff with corporate needs, hired new resources, terminated poor performers, managed 3 departments/40+ employees.
Firm audit was two years delayed and financial operations in arrears:
Facilitated audit committee meetings and liaised with external auditors. Proved receipt of $4.6 million revenues to debunk a proposed write-down by audit firm. After 60 days, monthly closing process was current, documented, and reduced from a backlog of 6 months to a 5-day process going forward. Reduced receivables days outstanding 45%.
Client purchased company, replaced existing owner-family management, sold IP rights:
Life cycle project began with due diligence review, cost center classification, financial policy development, tax avoidance planning, business strategy development, arbitration coaching, and ended with execution of an asset purchase agreement. 393% client ROI.
Human Resources Management
Recruited, interviewed and recommended new hires from both within and outside firm, conducted pre-employment testing and post-hire orientations, annual benefits review and renewal, processed payroll and tax filings for weekly non-exempt and semi-monthly exempt employees and contractor sales commission payments with 1096/1099 annual filing, licensing compliance for continuing education and renewals, enforced policies, conducted annual reviews, documented violations and executed terminations, and completed all filings with TWC and IRS.
Startup Services
- QuickBooks (QB) Online, Desktop, or Enterprise.
- ProAdvisor Certified, Gold and Silver Level.
- One-time setup or conversion and ongoing services available.
- Fractional (part-time) CFO and Controller Services.
- Access to capital and small business loans.
– Prior Engagements –
Fund Administration:
2021 Assumption of fund administrator services for private equity real estate fund within its first year of operations. Restated 2020 financial reporting and assisted tax preparer with K-1s. Built fund’s allocation model and implemented QuickBooks Desktop. Firm prepares monthly financial management reports, quarterly consolidated financial statements, and partner capital statements.
New Retailer:
2020 Amazon store operator needed accounting information system and standard financial reporting. DPP implemented QuickBooks Online, recorded 7 months of prior transactions, filed prior year tax returns, and was engaged for fractional CFO services. Firm expanded to five stores in one year, and after securing small business funding, it is implementing an enhanced operating strategy.
Hedge Fund:
2017 Hedge fund affiliated with a Registered Investment Advisor client of DPP required interim CFO for creation of organizational docs (PPM, LPA, and operating agreement), QuickBooks Desktop accounting information system, and entity registrations with tax and state security administrators. DPP provided daily trade approval, compliance, and audit support for the fund’s initial year of operations. Prepared filings for FINRA form ADV and SEC form PF.
Project Management & Project Professionals
Dallas Platinum Partners can provide temporary or part-time solutions for software implementation and conversion (Certified QuickBooks Advanced Pro Advisor), cost reduction and efficiency, audit liaison, documentation and training programs, and general business administration.
– Prior Engagements –
ERP Systems Implementation and Conversions
- Project leader and contributor.
- Implemented Advent suite of products for international hedge fund (Axys, Moxy, & Partner).
- Converted 9 companies’ 10-year history from QuickBooks Online to Enterprise (QBE), upgraded QBE9 to QBE14, created classes to produce financial reports by sales rep, and re-mapped all charts of accounts for consolidated reporting in QBE.
- Firm’s liaison to convert Solomon Financials to Platinum Accounting, performed data verification, learned new software, created and conducted training for staff of 30.
Process Improvement
Process map current operations and evaluate procedures, identify profit improvement opportunities, recommend internal systems and operational redesign for savings recapture, review and improve internal control documentation (also for SOX compliance in public firms), provide technical writing and staff training, design pay-for-performance incentives including the corresponding key performance indicators (KPI) financial models to monitor success of corrective action plan implementation and to simplify interpretation and transparency of the most complex data models.
General Accounting
Month-end close, policy development and documentation, team training and mentoring, financial reporting and variance analysis, payroll and benefits administration, treasury and cash flows, accounts receivable and payable, revenue recognition, fixed assets, procurement, expense allocation, internal audit and tax oversight in addition to human resources and compliance, and career-long history of developing successful relationships with stakeholders, tax preparers, auditors, debt covenants/banking relationships, external investors and internal management.
Cost Accounting
Direct labor and work center cost absorption, product cost roll-forward, cycle counts, inventory valuation (FIFO pool) modeling, purchase price variance (PPV). Developed a custom-written (re)work-in-process inventory module for ERP system after identifying $400K+ of unrecorded inventory requiring refurbishment. Identified make/buy errors from exception cost variance reports to ensure proper COGS.
Budgeting and Forecasting
Converted an $800 million shared services division’s 12-department allocation process from zero-based budgeting to activity-based budgeting. Prepared weekly cash-flow analyses, rolling forecasts, and annual budgets.
Regulated Agency Contract Assignments
Dallas Platinum Partners provides solutions for heavily regulated industries including Securities & Exchange Commission (SEC) and state agencies for Registered Investment Advisers and hedge funds (Series 65 licensed, though unaffiliated), FINRA regulated broker-dealers, and banks.
– Prior Engagements –
- 2021-2022 and 2019, Bank (repeat client). Robert Half Management Resources engaged Dallas Platinum Partners for the Federal Home Loan Bank of Dallas’ Investments and Derivatives Department. Assets/debt, interest rate derivatives (FRFT, FOTO, Step Up/Down, Cap/Floor, Stand-Alone/Pass-Thru, LIBOR/SOFR), $4+ billion daily activity. Monitored compliance with Bank’s policies, documentation updated for procedural compliance with SOX, SEC, ABA, external and internal audit. Assured compliance with ASC 815 (FAS 133) for new and existing hedges, prepared ASC 815 documentation, analyzed prepaid advance modifications, financing elements, FIN 39, OTTI securities, pay-downs, and system interface deficiencies, month-end close, annual Stress Test (Excel financial model).
- 2021 SEC & FINRA Regulated broker-dealer. CFO and Financial and Operations Principal (FinOp) consulting services, regulatory reporting and compliance. Assisted entity’s transition to new private equity owner/consolidator and annual regulatory consolidated audit. The new CFO worked with Dallas Platinum Partners in 2013, filling multiple roles as Series 27 Financial and Operations Principal and Series 24 General Securities Principal (licenses inactive).
- 2020-2021 SEC-regulated Registered Investment Adviser (RIA). Interim CFO services for RIA, Turnkey Asset Management Platform (TAMP), and affiliate software company. $700 million assets under advisory (AUA), consolidated. RIA: Internal audit, payroll, regulatory financial reporting, calculated commissions for IARs, third-party managers, and client fees. File IRS Forms 1099/1096, W-2/W-3, 940 941; DCAD, and state franchise tax. TAMP: Monthly settlement reporting. Affiliate: IP capitalization, multi-state payroll tax, and license fees. All: Insurance review, new 401k plan, and SBA PPP loan application and forgiveness.
- 2016-2019 Texas State Securities Board-regulated RIA. Fractional CFO and compliance consulting services including Series 65, NASAA Uniform Investment Adviser Law Examination (license inactive). Middle- and back-office operations and performance reporting for HNW clients and family offices, 110+ investments and 500 monthly/quarterly statements, private fund organization, due diligence, advisory fee calculation, custody, audit, tax liaison, and FINRA form ADV filing. Highly-confidential, regulated client communication. Multi-entity financial management; first year private fund administrator, audit support, and start-up consultant for client-seeded hedge fund.
Crisis Management & PPP, ERC, RRF Programs
COVID-19 Pandemic Solutions
Dallas Platinum Partners are subject-matter experts for the challenges facing small businesses, sole proprietors, and self-employed contractors. We offer customized solutions tailored to your business and your budget.
In addition to determining your ERC qualification, we can help you maximize ERC benefits by optimizing your PPP loan forgiveness. We offer access to other SBA funding options such as 7(a) loans and assistance with private and federal grants. We provide guidance for and preparation of your year-end federal reporting for the Restaurant Revitalization Fund.
Learn more about PPP loan forgiveness and other funding options here.