How to find an honest financial adviser

There is no easy way to vet a financial adviser, but there are some things you should look for when making a decision. A good adviser:

should be a Registered Investment Advisor and NOT a Registered Representative of a Broker Dealer, an insurance agent or bank employee;.
should not have any conflict with your interests. This usually comes from compensation offered or paid by third parties;
should accept the obligation to act in a fiduciary capacity and be willing to put this in writing;
should base his/her investment advice entirely on your goals, resources and constraints;
should be proactive in conducting regular analysis and review of your financial plan and your portfolio;
should not demand, nor should you give them, discretionary control of you assets;
should have a strong background in analytic methods – science, engineering or mathematics;
should not be paid more than about 0.75 percent of your portfolio assets per year, and your total investment costs under the adviser should not be more than 1.0 percent of portfolio assets per year unless special circumstances apply.