1. "Can you provide some references?"

When you're first deciding on a financial planner, it's a good idea to ask for some references, says Mark Hirsch, an accounting expert, personal injury lawyer, and co-founder of Templer & Hirsch. "Hearing from past clients can help you trust and believe in their abilities," he tells Best Life.

However, you should also approach this part of the process with some skepticism, probing the nature and length of their relationship, and requesting that they meet some specific criteria.

"Require the advisor to provide references that are similar to you: age, careers, work status, families, assets, risk tolerance, financial goals, etc. Similarities make the referrals comments more applicable to your situation," suggests Paladin Research & Registry, a free service that connects clients and financial advisors. "If the advisor is supposed to be successful but can't provide similar references, you should assume he or she has a small, static list of references that he or she uses repeatedly. This is not characteristic of a high-quality advisor."

2. "How do you get paid?"

How your financial advisor makes their money may affect their motivation and how they advise you. That's why Chris Gleason, MBA, a financial planning expert and the founder and CEO of Simplicite Tax Loans, recommends always asking about your financial advisor's fee structure.

"There are different types of financial planners. Some get paid to sell you financial products. Others get paid to provide financial results or perform certain planning functions for you (like estate planning, for instance). The terms for each are 'fee-based' or 'fee-only,' respectively," explains Gleason.

If you're looking for someone that receives no additional compensation beyond what they receive from clients, thereby minimizing the potential for conflict of interest, opt for someone who uses a fee-only payment plan.

3. "Why am I invested this way?"

If you've already hired a financial advisor, another way to get to the root of this same question is to ask why you're invested the way that you are. There should always be a feeling of transparency when it comes to your financial planner's investment strategy.

"This is a critical question, because often financial professionals (who are not fiduciaries) have conflicts of interest," says Stu Sneen, CFA, CFP, founder and financial planner for TwoTen Planning PLLC. "They might be setting up investments that pay higher commissions. The only real answer is that the client is invested to align with their financial goals."

4. "How did you get started in this business?"

Getting to know your financial planner and a bit about their career history can also help tip you off to any potential red flags.

"If you listen to a financial planner's story, you'll often hear one of two themes embedded within it," says Gleason. "Either they got into financial planning because they were an exceptional fiduciary—that means someone charged with being responsible and acting in the best interests of another—or they got into the business because they were a great salesperson. One is desirable. The other is concerning. It's pretty easy to tell which is which," he tells Best Life.

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5. "What is your role regarding my finances?"

A good financial planner should make a few things clear to you up front—before you give them total access to your personal finances. This includes what their role is as your fiduciary, what they view as an achievable set of goals, and how they measure success in regards to both.

"Sometimes the assumption is that a financial planner is someone who's responsible for choosing investments and making your money grow, but that's not always the case. Having a clear understanding of a financial planner's role in your financial picture is critical so that you don't expect them to do something they have no intention of doing," says Gleason.

6. What are your key investment philosophies or strategies?

Even if you've established that your financial planner is acting in good faith, it's still important to evaluate whether their methodology is sound and right for you. Sneen says that inquiring about their key investment philosophies or strategies can help you do just that.

"The answer will provide tremendous insight into how the financial professional views markets," the financial expert tells Best Life.

They might discuss active versus passive investing, indexing, or evidence-based investing, to name a few common themes. Be sure to take notes so you can research these strategies after the fact if needed.

7. "Do you ever advise your clients to be uninvested?"

As Gleason points out, what works for one client may not work for the next. While one person may benefit from an aggressive financial approach, another might benefit from going slow and steady with lower risk.

"Investing comes with risk, and some clients have no business taking on any risk," Gleason says. "If a financial planner gets paid to invest their money, it's hard to recommend that a client not invest. Some of the most responsible financial planners will be able to answer 'yes' to this question."

8. "What should I take the time to learn more about?"

Doing some independent research can help you become a meaningful partner in the management of your own finances. Gleason recommends asking your financial advisor what areas you should focus on.

"Sure, some people want a 'set it and forget it' experience when it comes to financial planning. The problem is, many folks don't even know enough about their own finances to be able to tell whether what their financial planner is doing is actually good for them or not," says Gleason.

"Even if you hire a financial planner, you should make sure that you're doing enough homework of your own to tell whether or not they're acting in a manner that you can feel good about," he adds.

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9. "How can my money benefit both me and others?"

If you're hoping to leave a legacy that benefits others through giving, your financial planner should be able to help you do so.

"A financial planner must be able to help clients build and implement a philanthropic giving strategy," says Sneen. "Not everyone is looking to amass a fortune. Many people want to give generously, and financial professionals would be wise to help clients create and carry out their giving strategy."

10. "Does my financial plan fully take into account my values and goals?"

If your financial planner can't carefully articulate your values or goals, they can't possibly help you achieve them.

"The reason this question is important is because the financial plan should be created and monitored in a manner that supports the client's life. Each client has unique needs, and the financial plan should be a direct reflection," says Sneen.