How do I do that?
Be a demanding consumer, says financial planner Paul Brady, of Brady & Associates. If you're thinking of consulting an adviser for the first time, the chances are that something will have triggered your decision. You may have a super payout to roll over or a lump sum to invest.

But Brady says you should prepare for the initial meeting with the expectation that financial planning deals with your overall finances not just immediate investment advice. Gather together things like your latest super fund statements, your insurance details, details of your assets and liabilities, and your income, he says. Also give thought to your spending and saving patterns.

Have you done a budget? How much can you spend and save each year?
"You also need to give thought to your financial goals and talk them over with your partner," Brady says. "Have an idea of the things you need to [make] provision for like a new car, the kids' education, or having a child and give some thought to your priorities. "If you've done all this you'll have a much more productive meeting and get more out of it."

Do I have to do research on the planner too?
It's a good idea. The Australian Securities and Investments Commission and the Financial Planning Association have produced a good booklet, Don't kiss your money goodbye, which gives you all the drum on choosing and using an adviser. (It even has a list of questions to ask at that first meeting.)

It suggests you ask for a copy of the firm's advisory services guide to be sent to you before the meeting, so you know who you'll be dealing with. Brady says you should be especially aware of any limitations on the advice the planner can offer and whether the adviser can rebate any commissions and charge you a fee for service. The guide will also have details on regulatory issues such as who the planning firm is, who holds the licence and how they're paid.

Brady says it's important to ensure the planner is the right "match" for you. Different firms operate in different sectors of the market.

Do I have to pay for all this?
Many planners provide an initial "getting to know you" meeting free, but check in advance. The intention of this meeting is to give you an understanding of how they might approach your needs and whether you have a rapport with the adviser. This is the time, says Brady, to ensure you find out exactly what the service will cost and what you should expect from the adviser.

How do I make sure the plan is right for me?
Brady says one of the major reasons for having a financial planner is to have someone to cut through the jargon and make sure investing is understandable and relevant. So ask questions especially if you don't understand exactly what's being recommended. If you're not comfortable with some of the recommendations, challenge them.

You also need to establish what sort of ongoing relationship you'll have with the adviser. Generally this will be dictated by the size and complexity of your financial affairs, though Brady says most people need a review of their position and investments at least once a year.

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