There are hundreds of thousands of folks offering financial products and services, some with an alphabet soup after their names. Before you sign on any dotted lines or commit to any firm, here are six questions to consider:

Do I need to hire someone to help me out with my money? If you have the time, energy, know-how and emotional discipline to do so, managing your own financial life can be rewarding. As a bonus, the price is right!

But as I wrote in my book, “The Dumb Things Smart People Do with Their Money,” “sometimes you need financial advice because you’re your own worst enemy. ... Sometimes you need financial advice because you manage your money in a way that your romantic partner finds abhorrent. ... Sometimes you need a financial adviser because you just don't want to do the work of managing your affairs.”

Can I use a robo-advisor or online platform, instead of a human being? If you haven’t been following the evolution of financial technology, you will be happy to know that most big organizations have added an advice component to their online services for reasonable fees, usually less than 0.50% a year.

Industry giants Vanguard and Charles Schwab have entered the market with interesting offerings, though there’s a minimum account size, while competitor Betterment has no minimum for its digital service. Robos are a great alternative for those who are paying more than 0.5% for plain old money management, without any advice.

What’s the deal with fiduciary? A fiduciary duty requires that the person providing advice or guidance acts in your best interest. In financial services, this means that he or she recommends a product or service that is better for you, regardless if it results in lower compensation for him or her.

It may surprise you to learn that about half of the so-called financial professionals out there do not have to put your best interest first. They are held to a lesser standard, called "suitability," which means that anything they sell you has to be appropriate for you, though not necessarily in your best interest.

If my broker is not held to the fiduciary standard, should I fire him or her? Not necessarily, but fiduciary is preferable. If you remain with someone who is held to suitability, you need to understand that when he or she is recommending a certain product or service, you will need to probe a little further and find out whether or not there is a cheaper alternative available.

You should also ask how much money he or she and the company make from whatever is being sold to you.

Is one fee structure better than another? There’s a case to be made for commission-based, asset under management (AUM is where you pay a percentage of assets being managed) and hourly or monthly retainer (sometimes called fee-only). The vast majority of those held to the fiduciary standard use either AUM or fee-only.

How important is experience? You should always ask how long the adviser has been in practice and, if he or she is new to the business, is there a more experienced colleague who is mentoring him or her? Also ask about professional certifications, licenses or designations.

The gold standard of certifications and memberships include: CFP certification from the Certified Financial Planner Board of Standards, CPA Personal Financial Specialists, members of the National Association of Personal Financial Advisors and Chartered Financial Analyst. You can check regulatory records with the SEC, FINRA, the State Securities website NASAA, and the CFP Board.

Jill Schlesinger, CFP, is a CBS News business analyst. She welcomes comments and questions at askjill@jillonmoney.com.