Ready to take the next step in your investing journey? What to look for in an adviser

A person works on a spreadsheet in a photo illustration made in Toronto, on Monday, Sept. 22, 2025. THE CANADIAN PRESS/Sammy Kogan

Handling your own investments on a DIY platform has become increasingly common. While that can cover your basic investment needs, the trick is knowing when to seek professional help.

For some of Wendy Brookhouse’s clients who were once self-investors, the need for more guidance brought them to consider a financial planner.

“They had done what they knew, but they didn’t know what they didn’t know,” said Brookhouse, a certified financial planner and founder of Halifax-based Black Star Wealth. “That was a point when they called me.”

Social media forums and artificial intelligence chatbots likely don’t have all the answers you’re looking for in your financial journey. That’s where a finance professional could come into play. But the question is, where do you start? Experts say it depends on your needs and how complex your situation is.

First, make sure you’re looking for a legit financial adviser, said Kelley Keehn, financial educator and founder of Money Wise Institute.

For example, if you’re looking for a certified financial planner, check the FP Canada website to see if they’re in good standing and that they’re qualified, she said. A certified financial planner would look at all spokes of your financial wheel, such as planning, debt repayment, insurance and retirement.

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Keehn said it’s important to check their licenses and designations next.

Brookhouse said it may be an easier route to go to the bank and talk to their advisers or explore independent advisers online — and check their vibe.

“Go look at the social media presence. How are they positioning themselves online? And is it the kind of place you want to work with?” she said.

Knowing what you’re looking for from a professional can also steer you in the right direction.

For instance, wanting to learn how to best handle an incoming inheritance or starting a new career that would bring in more money, Brookhouse said.

“When it comes to some of those things, it’s sometimes helpful to have a second set of eyes on them that doesn’t have all the baggage you might have around money,” she said.

Other times, it could be for a more holistic plan, or even a hybrid — when some parts are self-managed, while others are cared for by the professional, she said.

Finding the right professional can be a little like dating. Maybe the first one isn’t your forever-after.

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“You might have to interview three financial people just to know you need a planner, or to know you need a specific niche,” such as an insurance expert or qualified associate financial planner, Keehn said. “Then, you may have to interview three more.”

Brookhouse said to pay attention to the questions the adviser asks you. That could give you insight into their approach and how they may handle certain situations.

“Are they using positive language, are they talking about the transformations they are making in their clients’ lives, are they relating to your situation?” she asked.

And then, you must come armed with some of your own questions.

“I would ask any financial professional, ‘What are your biases?’” Keehn said. “They might be shocked by that question (but) everyone’s biased.”

Keehn said biases can show up in recommendations. For instance, if a professional sells stocks and bonds, they may not recommend real estate investments based on their experience.

Ask about what kind of clients they work with — are they families, small businesses, government employees or freelancers? That would give you a sense of the nuanced cash flow the professional may be handling.

Brookhouse suggested inquiring about the adviser’s process. How many times a year will you meet, if you’d be meeting with the same adviser or someone else from the firm? And it’s important to ask how they get paid.

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Advisers and financial professionals have various fee structures, whether it’s an upfront fee, practising as a fee-only adviser or charging a fee based on managed assets.

How you feel is also important.

“If you leave confused, if you leave (thinking) you were made to feel stupid, if you leave with less clarity than you came in, that person is not for you,” Keehn said.

You may get that ick right away or a year later, and it’s OK to walk away then, too, she said.

“Don’t think just because you’ve got someone that you have to stay with them,” she said. “You can get another professional down the line if it just doesn’t work out.”

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Ritika Dubey, The Canadian Press

This report by The Canadian Press was first published April 28, 2026.