(MONEY Magazine) – Any reputable financial planner should be willing to respond fully to the following 10 questions. If you don't like what you hear -- or if the person refuses to co-operate -- move on immediately. But even if the planner seems < friendly and competent, double-check the responses wherever that's possible.

1. Are you registered with the federal Securities and Exchange Commission and your state securities department? Most financial planners are supposed to register with the SEC. In addition, all but seven states and the District of Columbia require that most planners register with the state's securities department. By itself, registering doesn't guarantee that a planner is honest or competent, but it does show that the planner knows the law and obeys it. Says Barbara Roper, Director of Investor Protection for the Consumer Federation of America in Washington, D.C.: ''Registration is the absolute minimum to look for.''

2. What is your educational and professional background? Unlike lawyers and accountants, planners typically are not legally required to have training or experience, so it is important to check credentials. Planners who have passed examinations in subjects such as investing, insurance and estate planning can call themselves one of the following: certified financial planner, chartered financial consultant, chartered life underwriter or personal financial specialist. At the very least, such designations indicate some knowledge of planning basics.

3. What types of financial planning services do you provide? Some planners specialize in one or two areas, such as retirement planning, insurance or taxes. Make sure the planner you choose can address your particular concerns.

4. Do you sell products or services other than providing investment advice to clients? This question can alert you to potential conflicts of interest. Also check whether your planner sells only products sponsored by his or her company.

5. What types of products do you recommend? ''You want to find out if a planner suggests good old-fashioned stuff like government securities, municipal bonds, common stocks and mutual funds in addition to newfangled products such as limited partnerships, unit trusts and insurance,'' says Mary Calhoun, a securities arbitration consultant.

6. Will you disclose in advance your total compensation -- including the commissions you will get for selling particular products, as well as your general fees? The fact that a planner stands to earn commissions isn't necessarily a negative. But you should make sure that your needs -- and not the commissions -- determine which products you'll get pitched. For example, duck if your planner tries to fill your portfolio with limited partnerships, which can carry commissions of 8% or more.

7. Have you been the subject of disciplinary actions by any federal or state agency or professional regulatory body, or been involved in arbitration proceedings with former clients? Be sure to verify the planner's answer with your state securities department and the SEC.

8. Will you provide me with a copy of your ADV? Discount the fancy brochures. The document you need is Part II of your planner's ADV form, which he or she must file with the state and the SEC and show on request. The form includes information about a planner's experience, investment strategies and potential conflicts of interest.

9. Will you provide me with the names and phone numbers of three clients you've counseled for at least two years? Call these clients and ask whether they are satisfied, what types of returns they have been getting and whether they expect to stay with the planner in the future. Then, if you can, get more names from them to check with as well.

10. May I see three examples of plans and follow-up reports you've drawn up for other investors? The original plans will tell you whether advice was tailored to individual clients. Follow-ups will show how skillfully the planner made adjustments as events unfolded.