Financial adviser hiring questions

Here are 10 questions regulators and other experts say consumers should ask before hiring a financial adviser.

1: How are you paid?

2: Do you get paid for selling some products more than you get for others? Are you restricted in what you can recommend?

3: Have you ever been disciplined by a regulator or sued by a client?

4: Are you a broker or a registered investment adviser? What licenses do you hold?

5: What is your employment history? How many firms have you worked for?

6: For registered investment advisers: Will you send me both parts of your Form ADV?

7: For brokers: Which broker-dealer do you work for? (The broker-dealer’s record should also be checked.)

9: May I have names and phone numbers of long-term clients?

10: What is the actual annual amount – in dollars – that I’ll be paying for financial services, including commissions, loads and expense fees charged by mutual funds?