Choosing a financial adviser is one of the more consequential decisions you will make with your money, and the first meeting is where you find out whether this is the right person. A good adviser welcomes hard questions; a weak one gets vague. Here are ten to ask before you engage anyone.

1. What is your adviser number, and are you currently authorised?

Every financial adviser in Australia must appear on ASIC's Financial Advisers Register. Ask for their adviser number and check it on Moneysmart. The register shows their qualifications, current status, and any bans or past problems. If they are not on it, walk away.

2. Are you independent under section 923A?

The word "independent" is legally protected — it means no commissions, no asset-based fees, no volume payments, and no product-ownership conflicts. Ask plainly whether they meet that standard. If they do not, that is not disqualifying, but you want to know who they are aligned with and how that shapes their recommendations.

3. Exactly how are you paid?

Get the full picture: upfront advice fee, any ongoing fee, asset-based fees, and any insurance commissions. Ask them to put the total in writing before you commit. Their Financial Services Guide must spell this out — read it.

4. What will the upfront advice cost, and what do I get for it?

You should know the fee for your Statement of Advice before work starts, and what it covers. Complexity drives the price, so make sure the scope matches what you actually need — no more, no less.

5. Is there an ongoing fee, and can I cancel it?

If they propose an ongoing arrangement, remember you must consent in writing every year for it to continue, and you can cancel at any time. Ask what the ongoing service actually includes — reviews, contact, reporting — so you can judge whether it is worth it.

6. What are your qualifications and areas of focus?

Advisers must meet education and professional-standards requirements, but specialisation varies widely. Someone who lives and breathes retirement and defined-benefit super is a different proposition from a generalist. Match their focus to your need — retirement, SMSF, aged care, insurance, investment.

7. Who will I actually deal with?

In larger firms, the person you meet may not be the person who manages your file. Confirm who your day-to-day adviser will be, and what happens if they are unavailable.

8. What products or platforms can you recommend — and what can't you?

Ask about their Approved Product List. A very narrow list, or one dominated by in-house products, limits the advice you can receive. Independence and a broad list both widen your options.

9. How will you manage conflicts of interest?

Even conflict-free advisers have this conversation comfortably. Ask how they handle any relationships, referrals, or incentives that could influence a recommendation. The quality of the answer matters as much as the content.

10. What happens if something goes wrong?

Advisers must belong to the Australian Financial Complaints Authority (AFCA), which resolves disputes independently and at no cost to you. Confirm their AFCA membership, and ask how they handle complaints internally first.

A note on the meeting itself

Beyond the answers, watch how they respond. A good adviser is clear about money, patient with questions, and honest about what they cannot do. Pressure to sign quickly, fuzziness about fees, or a recommendation to move everything into one in-house product before they have understood your situation are all reasons to pause. Take the FSG home, read it, and sleep on any recommendation to move super or investments. Good advice will still be good tomorrow. --- Ready to compare? See independent financial advisers on CompareMyAgents → — every firm checked on ASIC's register. Read how advisers are paid and our scam alerts before you commit.