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Understand the letters after someone's name

Financial titles can be confusing. This page explains what the most common credentials actually mean, how professionals are commonly paid, and what to ask before you hire anyone. None of this is financial, tax, legal, accounting, or investment advice.

Professional information may be self-reported unless marked verified. Verify credentials, licenses, fees, and services independently before engaging a provider.

Common professional types

A military family might work with one or several of these professionals depending on what is happening at home.

  • Financial Planner
  • Tax Planner
  • CPA
  • Enrolled Agent
  • Bookkeeper
  • Trust & Estate Attorney
  • Insurance Agent

Credential cards

Credentials describe training, exams, and ethics requirements that someone has completed. Holding a credential does not guarantee fit for your household.

CFP professional

CFPSelf-reported credential

A financial planner who has completed the CFP Board's education, exam, experience, and ethics requirements.

Why it may matter: Many military families work with a CFP for broad household planning across pay, benefits, taxes, and retirement.

Questions to ask

  • Are you a current CFP professional in good standing?
  • How many military families do you actively serve?
  • Are you a fiduciary for the full engagement?

You can confirm CFP status independently through the CFP Board's public verification site.

AFC professional

AFCSelf-reported credential

An Accredited Financial Counselor focuses on cash flow, debt, and foundational money decisions.

Why it may matter: AFCs are common in military counseling settings and may be a good first stop for budgeting and debt support.

Questions to ask

  • Are you a current AFC in good standing?
  • Do you charge for your time, or is your work offered through a free program?

AFCs can be verified independently through AFCPE's public credential lookup.

MQFP professional

MQFPSelf-reported credential

A Military Qualified Financial Planner has completed military-focused planning coursework on top of an existing planning background.

Why it may matter: MQFPs often work specifically with military pay, benefits, BRS, SBP, and transition planning.

Questions to ask

  • Which underlying credential do you also hold (for example CFP, AFC)?
  • What part of military planning do you focus on most?

Confirm MQFP status with the issuing organization. Treat as self-reported until you have done so.

CPA

CPASelf-reported credential

A Certified Public Accountant licensed by a U.S. state to provide accounting, tax, and assurance services.

Why it may matter: Military households with multi-state filings, rentals, side businesses, or complex tax years often work with a CPA.

Questions to ask

  • Which states are you licensed in?
  • Do you handle multi-state and combat zone tax issues?

CPA licenses can be verified through the issuing state board of accountancy.

Enrolled Agent

EASelf-reported credential

An Enrolled Agent is licensed by the IRS to represent taxpayers and prepare returns.

Why it may matter: Enrolled Agents can help with tax preparation, planning, and IRS representation, including for military-specific situations.

Questions to ask

  • How long have you held your EA status?
  • Have you handled military-specific tax issues before?

EA status can be verified through the IRS Return Preparer Office.

Attorney

JDSelf-reported credential

A lawyer admitted to practice in one or more U.S. states. Estate planning attorneys often help with wills, trusts, and powers of attorney.

Why it may matter: PCS moves, deployments, blended families, and multi-state property often raise estate planning questions.

Questions to ask

  • Which states are you licensed to practice in?
  • How often do you work with active duty or veteran families?

Attorney licenses can be verified through each state's bar association.

Bookkeeper

BookkeeperSelf-reported credential

A bookkeeper records and organizes financial transactions, often for a household business or rental.

Why it may matter: Side businesses and rental property can become a tax-time headache without organized books.

Questions to ask

  • Which accounting software do you use?
  • How often will we reconcile accounts?

Bookkeepers are generally not state-licensed. Treat any listed credentials as self-reported until confirmed.

Tax Planner

Tax PlannerSelf-reported credential

A tax planner focuses on forward-looking strategies (not just preparing last year's return).

Why it may matter: Combat zone exclusions, multi-state moves, side income, and Roth/Traditional TSP choices often benefit from year-round planning.

Questions to ask

  • Is tax planning your primary focus, or do you mainly prepare returns?
  • Do you also hold a CPA or EA credential?

There is no single 'tax planner' license. Confirm any underlying credentials independently.

Common compensation models

How a professional is paid affects the conversations you may have. None of these models is automatically good or bad.

Fee-only

Fee-only

The professional is paid only by their clients, not by product commissions.

Why it may matter: Fee-only models reduce one common source of conflict of interest in financial advice.

Questions to ask

  • Do you or your firm receive any commissions or referral payments?
  • How is your fee calculated?

Ask for a written description of how the firm is paid.

Flat fee

Flat fee

A fixed price for a defined engagement or scope of work.

Why it may matter: Flat fees are predictable and help military families plan around PCS-driven cash flow.

Questions to ask

  • What is included in this flat fee?
  • What would trigger an additional fee?

Get the engagement scope in writing before paying.

Hourly

Hourly

The professional charges for time worked, similar to many attorneys and CPAs.

Why it may matter: Hourly can be cost-effective for specific questions or short engagements.

Questions to ask

  • What is your hourly rate, and do you bill in increments?
  • Roughly how many hours might my situation take?

Ask for an estimate range and a cap, in writing.

Subscription

Subscription

Ongoing monthly or quarterly fee for an ongoing relationship.

Why it may matter: Subscription models can be a good match for households that want regular check-ins through life events like PCS or deployment.

Questions to ask

  • What is included each month?
  • How do I pause or cancel?

Ask for the subscription terms in writing.

Assets under management

Assets under management

A percentage fee charged on the assets the firm manages on your behalf, often charged quarterly.

Why it may matter: Assets under management fees compound over time. Understanding the percentage and minimums is important.

Questions to ask

  • What percentage do you charge, and is there a minimum?
  • What services are included beyond investment management?

Confirm the fee schedule in the firm's Form ADV or written agreement.

Commission

Commission

The professional earns a payment when a financial product is sold.

Why it may matter: Commission-based pay can create incentives that may not align with your needs. It is not automatically bad, but it should be understood.

Questions to ask

  • Do you earn a commission on any product or service discussed with me?
  • Is there a non-commission alternative for the same goal?

Ask for a written disclosure of commissions and incentives.

Product sales

Product sales

Revenue comes from selling specific financial products (for example insurance).

Why it may matter: Some products marketed to military families are aggressively sold and high cost. Understand what you are buying.

Questions to ask

  • What product are you proposing, and how are you paid for it?
  • What lower-cost alternatives exist?

Look up the product on FINRA BrokerCheck or your state insurance department before purchase.

Tax preparation fee

Tax prep fee

A fee for preparing and filing tax returns.

Why it may matter: Military tax returns can be more complex (multi-state, combat zone, side income). Pricing varies.

Questions to ask

  • Is this a flat or hourly fee?
  • Does it include state returns and prior-year amendments if needed?

Get the engagement letter in writing before signing.

Legal retainer

Legal retainer

An upfront amount that the attorney bills against as work is performed.

Why it may matter: Estate planning and family law work is often billed against a retainer.

Questions to ask

  • What does the retainer cover?
  • What happens to unused retainer funds?

Get the engagement letter in writing before paying the retainer.

What 'self-reported' means

Most professional information you see online (including in this directory) is self-reported by the professional or their firm. That does not mean it is wrong, only that it has not been independently verified.

  • "Self-reported" means the professional supplied the information.
  • "Verified" means we have independently confirmed the specific data point.
  • "Not yet verified" means a credential is listed but verification is pending or absent.
  • "Information not provided" means the field is missing.

How to verify credentials

Before engaging a professional, you can independently confirm most credentials and licenses.

  • CFP: CFP Board public verification
  • AFC: AFCPE public credential lookup
  • CPA: state board of accountancy in the state of license
  • Enrolled Agent: IRS Return Preparer Office
  • Attorney: state bar association in the state of license
  • Investment professional: FINRA BrokerCheck and SEC IAPD

Questions to ask before hiring

A short list to take into a first conversation.

  • What credentials do you currently hold, and how can I verify them?
  • Are you a fiduciary for the entire engagement?
  • How are you and your firm paid?
  • How many military families do you actively serve?
  • What does the engagement scope include in writing?

Verify credentials, licenses, compensation, and services independently before engaging any provider.

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