Ask the experts

How can you determine if your financial adviser really has your best interests at heart? --Marjorie Hughes, La Grange, Ill.

While there's no simple way to rate an adviser's intentions, let alone his performance, you can start with this checklist.

1. Does he make promises he can't keep, like that he'll always beat the market? "I've not seen anyone deliver on that one," says Diahann Lassus, former chairman of the National Association of Personal Financial Advisors. As for his more realistic promises, does he keep them? If he says that he'll research the tax benefits of a particular investment strategy, make sure he actually follows through.

2. Is he a good communicator? For instance, has he made his philosophy clear to you -- and are you comfortable with it? On a more practical level, does he respond to your queries quickly? The last thing you want is an adviser who's hard to track down when things go awry.

3. Does your adviser ask about your personal circumstances? If he doesn't know what's going on in your life, he can't offer you the best help. But note that sometimes the best help he can provide is stopping you from acting on your own emotional impulses. "Your adviser's role is not to always agree with you," says Lassus.

4. Finally, do you understand how -- and how much -- you're paying him, via commissions, fees, or a combo of the two? "If the adviser is really clear about it and upfront, that's good," she says. "It's because he believes he's delivering value for what you're paying." --George Mannes

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