Your most important requirement for an investment advisor is whether you feel comfortable with him and can trust him. The best place to start in finding someone you can trust is to ask friends, relatives and neighbors if they know or have used someone they are happy with. After you locate several candidates, it's essential to interview them carefully. Here are questions you should ask:

Are you licensed, and if so, by whom? Federal and state securities laws require brokers, investment advisers, and their firms to be licensed or registered. Information about brokers and the firms they work for is available from the BrokerCheck function of the NASD (http://www.nasd.com). You can also contact your state securities regulator; contact info is available at The North American Securities Dealers Association (http://www.nasaa.org). The SEC website (http://www.sec.gov/investor/brokers.htm) also has helpful information.

What is your background? Find out what schools the advisor attended, which firms they've worked for, and for how long.

Do you have experience working with people like me? Individuals with different levels of income and at different stages of life have different investment needs. An advisor who has only worked with, say, very wealthy individuals is less likely to understand the needs and mindset of those less prosperous.

Can you provide me with a list of references, including current clients? You will want to find out what the adviser's clients think of him.

What certifications do you have? Certifications (like a CPA or RFC) are no guarantee that the advisor is good, but it does provided added assurance.

How do you charge for your services? It's essential to find out how the investment counselor will be compensated. Various financial arrangements are possible, including a flat fee, an hourly rate, and a fixed percentage of the assets handled.

Do you receive a commission from any company for the financial products you sell? An advisor shouldn't be disqualified for a "yes" answer, but it's important to know what biases he or she may have in recommending investment products.