A good financial adviser should be someone you feel you can trust.The adviser should give you a piece of paper outlining his or her terms of business when you first meet him. This will answer some of these questions, such as how the adviser is paid, and going through the paperwork will open up conversation and give you the chance to ask more detailed questions:1 How are you paid?2. Will you advise on products which don't pay you commission?3 Will you share commission with me?4 What exams have you passed?5 How long have you been in business?6 Can I talk to an existing client for a reference?7 Will you contact me to review my finances in the future?8. If you charge fees, can I have an estimate for the work involved in advising me ?TEST them outWhat qualifications does an adviser have?You may be seen by someone who has very little in-depth knowledge. Sales people working for one firm and independent advisers who are new to the business have two years from joining a firm to pass the core exams. This is the Financial Planning Certificate (FPC) and it consists of three papers.

The first two are multiple choice, the third is made up of written answers to case studies.FPC 1 is alarmingly easy and concentrates heavily on financial regulation and insurance products. Yet newcomers who have only passed this one exam can see clients and give financial advice. (You may be slightly reassured to know that their paperwork is monitored and they are sometimes accompanied on visits by a senior colleague.)Most advisers don't bother to take extra exams once they have the FPC. But there is an advanced financial planning certificate (AFPC) and members of the Institute of Financial Planning, who charge fees and call themselves financial planners, all have this qualification.If you are looking for pensions advice, ask the adviser if he has passed the G60 pensions exam, which guarantees he will have a higher level of understanding of a complex subject.Chartered accountants who offer financial planning have passed their own exam, the Initial Test of Competence.Solicitors giving financial advice have the FPC exams as a minimum.At the top end of the market, a few advisers are also Certified Financial Planners, a qualification marked to an internationally agreed standard..

But when the vast majority of advisers, whether tied or independent, are trapped by the need to generate commission, how much progress can we really expect ?The Institute of Financial Planning, 0117 990 4434, has a free guide to members who offer fee-based advice, and a booklet on choosing a financial planner.IFA Promotion gives you the names of three IFAs in your area. His company has a website that allows customers to take advice, or to buy direct, and get most of the commission repaid.In future, the structure of financial products will become much easier to understand - the Government's plans for individual savings accounts (ISAs) will see to that. The exceptions to this are the new arrivals in the market, such as Virgin Direct, which don't pay commission. There are also some old-established companies that don't offer IFAs financial incentives to sell.Some IFAs offer transparent commission-sharing arrangements for customers. But that is taking much-needed money out of their own pockets Others, such as Mark Howard, are going on to the internet. However, there is accessible financial advice and performance data in the papers, on the internet and on the TV and radio.