Who your adviser works for and how he s paid can make all the difference in the advice you get, experts say. If someone ducks questions about such issues, that s a red flag, says Scott Hanson, cofounder of one of the largest independent advisory firms.

Some advisers mostly stock and insurance brokers work largely on commission. Others get paid by the hour or charge a percentage of the assets they manage. An adviser s recommendation of one product over another could be influenced by the commission he or she could make, but some argue that advisers who charge fees have their own conflicts. For example, someone who earns a percentage of assets has an incentive not to recommend that a client use their assets to pay down debt, says Sheryl Garrett, founder of the Garrett Planning Network, whose advisers charge by the hour.

Are you a fiduciary?

Advisers who are considered fiduciaries legally must put clients interests first. This standard applies to advisers who charge fees. Advisers who work on commission and salaried advisers at securities firms need weigh only whether a product is suitable for a client. It gets really tricky when advisers are paid through a mix of commissions and fees. These so-called hybrids can work under different standards during the course of the same client meeting, depending on what product they re selling, says Blaine Aikin, CEO of Fi360, a firm that trains advisers.

Who is behind you?

Most advisers rely on a larger firm to execute trades and handle paperwork and other important functions. Only 6 percent of financial advisers are completely independent registered investment advisers, without any affiliation with a larger organization, according to industry consultancy Cerulli Associates. Experts recommend that clients ask advisers exactly how the parent company may be shaping the investments the adviser endorses, and how well those investments have performed.