Finding a trusted financial advisor was already difficult. The appeals court recently struck down the Labor Department’s pending fiduciary rule that further confused financial consumers. It is vitally important to understand whether your financial advisor will be acting as your fiduciary or instead looking for investments that are right for you. However, it is also important to know if you are dealing with a trustworthy person who understands your needs, offers an approach you are comfortable with, and has the expertise you seek for your unique circumstances. To help navigate the sometimes stressful search, we’ve put together our top five recommended questions to ask when looking for a financial advisor.

1. Are you a fiduciary?

The fiduciary rule legally obliges advisers to put their interests before their own. Advisors working under a fiduciary standard must disclose any conflicts of interest and share with you whether they benefit from recommending products or other professionals. They should be transparent about the fees advisors receive for that advice.

In contrast, the suitability standard is a standard that requires advisors to suggest investment products that are appropriate for you. There is no standard for concluding that the investment will help you achieve your goals or is in the best interest of your legal interests. Additionally, there is no requirement to fully disclose any conflicts of interest, which could allow an adviser to recommend products that may generate higher commissions on their own rather than similar products with lower fees.

There are wonderful advisers and there are poor advisers who work under the fiduciary and fitness standard. We work under a fiduciary standard and we highly value the trust we know you provide.

2. What are your credentials?

The professional designations and experience of an adviser are important. It gives you a great perspective on the advisor’s knowledge and areas of expertise. There are over 100 different types of credentials and they can be very confusing. If you’re looking for a financial advisor, you’ll want to be at least familiar with these three credentials that reflect a broad level of training and commitment:

CFP® – CERTIFIED FINANCIAL PLANNER®

CFP® professionals have completed college-level financial planning courses, met experience requirements, and passed the rigorous CFP® board exam covering 72 topics ranging from investing and risk management to tax planning and retirement, legacy management and the integration of all these disciplines. They also commit to continuing education and a high ethical standard. More information: http://www.cfp.net

CFA® – Chartered Financial Analyst®

To earn the CFA credential, professionals must pass 3 rigorous exams, each requiring a minimum of 300 hours of study at the master’s level that includes financial analysis, portfolio management, and wealth management. Professionals must also accumulate at least four years of qualified investment experience and commit to a high ethics statement annually. More information: www.cfainstitute.org

CIMA® – Certified Investment Management Analyst®

CIMAs focus on asset allocation and portfolio construction. The study program covers 5 core subject areas and applicants must meet experience, education, examination and ethics requirements. CIMAs must also commit to continuing professional education. More information: www.imca.org

3. What services and products do you offer?

Be sure to find an advisor and a firm that suits your needs. If you need someone to help you with your investment, you can look for a company that has a range of investment solutions, such as an asset management company.

If you need help assessing your current circumstances and creating a plan to achieve various goals in your life, you may want to seek out a financial planner. This advisor can help you consider college and retirement needs, tax strategies, risk management, and potential wealth transfers.

If you need financial planning and investment advice, you should look for a wealth manager. This advisor has extensive experience and takes a holistic approach to guide you through comprehensive planning and portfolio management.

4. How are you compensated?

Do not be shy; ask for rates! All professionals deserve to be paid for their expertise and services. By understanding how the advisor is compensated, you can determine if the advisor’s interests align well with yours.

commission only – These advisors are compensated based on the investment products you choose, such as mutual funds, structured products, insurance policies, or annuities that they buy or sell for you.

fee only – Independent advisers often only offer advice for a fee. Their fee is often set as a percentage of the assets they manage for you, so they too benefit if your portfolio grows and are penalized when it declines. They may also offer fixed rates for specific services.

fee-based – These advisors may charge a flat fee for the financial planning services they provide and take a commission on any financial product you buy or sell. These can include mutual funds, real estate investment funds (REITs), annuities, and insurance.

5. What is your approach to someone like me?

It is important to know that the counselor you are looking for has experience working with people in your circumstances. This is especially true if his financial situation is complex due to the wealth he has accumulated throughout his career. Ask the advisor to tell you about a client with common challenges and to share what solutions were offered.

Finding the right financial relationship can seem a bit overwhelming at times. It’s a bit like dating; you have to meet a variety of people, ask a lot of questions, and wait until you feel good. Rest assured, regardless of your circumstances, you can find an advisor who is excited to work with you and who has experience with clients just like you.