Questions, Answered
Everything you need to know about finding a financial advisor, what credentials mean, and how Sherpa works.
Getting Started
Credentials
Credentials tell you what an advisor is trained in and what they're licensed to do. Here's what the most common ones actually mean.
CFP — Certified Financial Planner
The broadest and most recognized credential in personal financial planning. CFPs study retirement, taxes, insurance, estate planning, and investments — then pass a rigorous exam and commit to a fiduciary standard.
CFA — Chartered Financial Analyst
One of the most rigorous credentials in finance, focused on investment analysis and portfolio management. CFAs are typically strong picks if your priority is growing and managing a portfolio.
CPA — Certified Public Accountant
A licensed accounting professional with deep expertise in tax law, financial reporting, and compliance. Ideal if taxes are central to your financial picture.
ChFC — Chartered Financial Consultant
Similar in scope to the CFP but with deeper coursework in insurance and estate planning. A strong choice if those areas are a priority.
EA — Enrolled Agent
Licensed directly by the IRS and authorized to represent clients before the IRS on tax matters. Enrolled Agents are tax specialists — the right call when dealing with audits, back taxes, or complex filings.
MBA — Master of Business Administration
A graduate-level business degree that develops broad financial and strategic thinking. Not a specific planning credential, but a strong indicator of financial literacy and business acumen.
How Advisors Charge
Fee structures vary by advisor. Sherpa is transparent about this — you discuss and agree on payment directly with your advisor, not through us.
Hourly
$150 – $400 / hr
Pay for time only. Best for one-time questions, second opinions, or a focused review session.
Flat Fee
$500 – $5,000+
Fixed price for a defined scope of work. Great for comprehensive financial plans or a retirement roadmap.
Retainer
$100 – $500 / mo
Ongoing access for regular check-ins, questions, and evolving plans. Common for clients in a life transition.
AUM
0.5% – 1.5% / yr
A percentage of your invested assets per year. The advisor manages your portfolio directly. Deducted automatically by the custodian (e.g., Schwab, Fidelity).
Commission
Varies by product
The advisor earns a percentage from the provider when you purchase a product like insurance or an annuity. No out-of-pocket cost to you, but understand the incentive structure before you buy.
Trust & Privacy
Sherpa is built around transparency and protecting both sides of every relationship.
Verified credentials
Every advisor submits verifiable credentials before appearing on the platform. No credentials, no listing.
Private messaging
All communication stays inside Sherpa. Your contact information is never exposed without your consent.
No unsolicited outreach
Advisors cannot cold-message users. You initiate every conversation.
Sherpa doesn't give advice
We're a marketplace, not an advisor. We help you find the right human — but the guidance comes from them.
More Questions
Research Tools
Want to do a bit of homework before your first conversation? These are worth bookmarking.
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