How much a financial advisor costs will depend on what you’re looking for. Ariel Skelley/Getty Table of Contents Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. What is a financial advisor? What does a financial advisor do? 7 questions to a financial advisor before you hire them The financial takeaway What is a financial advisor? What does a financial advisor do? 7 questions to a financial advisor before you hire them The...

Certified Financial Planners (CFPs) must have considerable financial expertise, both academic and practical, and agree to always put clients' interests before their own. Luis Alvarez/Getty Images A Certified Financial Planner (CFP) is a trade-industry designation for advisors and other professionals in the financial field. To gain the CFP designation, advisors must have a certain amount of experience, pass a rigorous exam, and commit to ongoing financial education. CFPs advise their clients...

ESOPs give employees a stake in their employer’s success through equity ownership. Cecilie Arcurs/Getty An employee stock ownership plan provides employees with shares of a company, which makes them part owners. Most ESOPs grant employees shares outright instead of requiring them to contribute to the plans. ESOPs help employees save for retirement while providing the company tax benefits and fostering overall growth. Visit Insider's Investing Reference library for more stories. If you're...

TSPs are defined contribution plans that allow you to allocate a portion of your pre-tax pay to an investment fund, usually through payroll deductions. SDI Productions/Getty A Thrift Savings Plan (TSP) is a retirement program open to most federal employees. TSP participants can contribute pre-tax earnings from their pay and get matching funds from their employers. There are a variety of investment options available designed to suit employees' comfortability with managing fund and individual...