Looking around for financial advice today is like trying to read a racing form or the stock tables without a cheat sheet. The problem is, without a guidebook and a scorecard, you don't know who's who or what's what in the money management game.

Any number of people with various titles offer to help you with your money, but what does that laundry list of letters and initials really mean? All financial professionals are not the same, don't have the same purpose, goals and services available. Without an understanding of the job behind the title, you could waste a lot of time and money before finding the right person to meet your needs.

It seems that everybody who used to be a stockbroker is now calling themselves anything but that now. Knowing the difference between, say, a financial consultant and a life underwriter will help you understand what you're in for and what it's going to cost you. Because the first rule of working with financial professionals is nobody works for free in this game. Still, you don't need to pay more than you have to.

Regardless of the alphabet soup of titles, initials, abbreviations and designations, the most important thing for you to do is ask if they offer a free consultation, which is a normal procedure in the business. Take advantage of this opportunity to ask as many questions as possible to find the right person. Remember, they are there to advise, assist and educate you because, bottom line, it's your money.

Here's a quick guide to clear away the fog in the alphabet soup of financial credentials:

CFP - certified financial planner: These are serious financial professionals who have taken a broad array of professional courses over a two to three year period and been tested on topics covering everything from investing and insurance to taxes, retirement and estate planning. They have passed a series of exams to confirm that they are qualified to answer questions in each of those areas and have received the CFP designation from the Board of Certified Financial Planners in Denver. They are also required to continue taking educational courses, workshops and seminars in order to keep up with the most recent changes in the financial/investing business. They get paid in three ways: 1) by charging hourly fees from $100 to $350; 2) by charging a flat fee for a written plan that ranges from $375 to $15,000 depending on how little or large your financial assets happen to be; or 3) by commission only which means that their recommendations may be geared toward selling insurance, stocks or mutual funds with heavy sales commissions included in them. TOP

CFS - certified fund specialist: This is a shortened version of the CFP program for investment-only professionals who focus on assisting clients with setting up investment portfolios for retirement and estate planning using primarily mutual funds, unit investment trusts and annuities. They work mainly on a commission basis which means 2 percent to 9 percent of each of your investment dollars go to them as commissions for the services they provide. Another variation on this title would be the certified mutual fund counselor.TOP

CPA - certified public accountant: Their speciality is taxes, taxes and more taxes although in the last 10 years, the securities laws have changed allowing accountants to make investment recommendations and even sell some securities without taking the stockbroker's or the CFP exams. Some have begun to dabble in investment advisory work without much experience or hands-on training in that area, so be cautious and ask a lot of questions about why and how they arrived at their investment recommendations. Keep in mind that in addition to paying a fee for getting your taxes done, you're also probably paying a commission for the investments they offer.TOP

CFA - chartered financial analyst: This is a research specialist, also called a securities analyst, who rarely meets with individuals since they specialize in doing the in-house research for the investment bankers to follow the various companies. They also study the industries and write the reports used by the media and stockbrokers to make buy and sell recommendations on various stocks.TOP

CLU - chartered life underwriter: These are primarily life insurance salespeople, and their focus is mainly on creating and selling insurance for business owners, wealthy individuals and corporate officers interested in estate planning, retirement planning and deferred compensation packages using life insurance.TOP

PFA - personal financial advisor: The is a new designation created by the National Association of Personal Financial Advisors to compete with the CFP for fee-only planners who have at least five years experience and have passed a series of exams to qualify for the title.TOP

RIA - registered investment advisor: This is the easiest title to get in the financial game because all it requires is the completion of a very complicated form to be submitted to the Securities and Exchange Commission along with a $150 filing fee. They take a three hour-exam which can be passed after a one-day crash course of study. Even though this is an easy title to get, don't discount the financial professionals who have this designation. Many of them may be former stockbrokers, insurance agents or bankers with extensive experience that can be useful to you. Here's where you may also get objective advice without having to worry about being sold a product that you don't want or need but you should expect to pay a fee.TOP

RR - registered representative: This is the basic legal title given by the Securities and Exchange Commission to those people who have passed the Series 7 licensing exam to become full-fledged stockbrokers. They are regulated by the National Association of Securities Dealers who keep very detailed records on each person who has ever been in the brokerage business.TOP