Choosing a financial planner is just like choosing any other professional service: you want to know, first of all, that the provider is competent, but also, that there is a personal suitability.
The competency has to come first. You’ve got to ensure that you’ve chosen someone who has the right skills, qualifications and competencies to deal with whatever your issues are. If you’re running a self-managed super fund (SMSF), for example, you need to make sure that your adviser is competent in SMSFs, or at least, is competent in such funds’ issues and needs. By the same token, if you’re a pensioner, you may want to find someone who is used to dealing with pensioner clients and knows their way around Centre Link services and benefits.
You should only get advice from an adviser who holds an Australian Financial Services Licence - AFSL-  and/or is employed by, or authorised to represent, a business that holds an AFSL.
Many Financial advisers specialise  in certain Aspects of financial advise. you should check which services they offer to see if these services meet your individual requirmentsThe services they offer will be in their Financial Services Guide as well as their fees and which AFSL they are providing advice under.
Many advisers may be linked to product providers such as banks, fund managers, industry super funds and life insurance companies and this may affect the services and products offered. You should be looking for “holistic” advice, which covers strategies not only to build wealth, but also to protect it; to put adequate insurance protection around your family; to plan your income for now and in retirement; to manage your expenses; and determine how to pass your wealth onto the next generation, all in a tax-effective manner. It’s absolutely vital that you get transparent advice from your adviser.
There is nothing wrong with asking questions to make sure that an adviser is right for you. You are the client and the adviser needs to satisfy you – not the other way round. Ask them to tell you about their own background and how long they have been a financial planner? What are their areas of specialisation and what kinds of clients do they mostly see? Who is the ultimate owner of their business? Above all, make sure you're satisfied on exactly what services they will provide, what those services will cost, how they will charge for those services, and how they will be paid.