Help! I don't know what CPA, PFA, CFP and all those professional accreditations stand for.

It can be a little daunting to see so many professional accreditations. What you really want to know is what type of financial professionals are there? Here's a quick list:

CFP - certified financial planner. A CFP has extensive background in all aspects of financial planning including investing, retirement planning, insurance needs and more. They are required to take continuing education classes to maintain certification.

PFA - personal financial advisor. A PFA is someone certified by National Association of Personal Financial Advisors. They are required to have five years experience and to pass an exam to be certified.

CFS - certified fund specialist. A CFS is an investment-only professional who specializes in retirement and estate planning. They are typically paid through commission.

RIA - registered investment advisor. An RIA has completed a Securities and Exchange Commission (SEC) form, paid the filing fee, and passed an exam. RIAs are typically paid through a flat fee.

RR - registered representative. An RR professional is certified by the SEC to be a stockbroker.

CFA - chartered financial analyst. A CFA is a securities analyst who does research for other financial professionals including brokers. CFAs rarely ever do personal financial consulting.

CPA - certified public accountant. A CPA specializes in handling taxes and tax-related issues, but is able to sell securities and provide some investment advice. They typically charge a flat fee for preparing a tax return and are paid commission for securities bought or sold for a client.

CLU - chartered life underwriter. A CLU sells life insurance.