It Takes Planning to Choose the Right Financial Planner

"I really commiserate with people looking for a planner," said Howard S. Gartenhaus, a financial adviser based in Rockville who earned a five-star rating from Paladin. "In many cases you are entrusting your . . . nest egg to somebody you really don't know. So any method to make that an easier process has got to be good for the consumers."

Waymire, who says he has worked in the financial services industry for 29 years, much of it as president of a financial services company, wants investors to move away from selecting advisers based on their likability.

"I hear investors say, 'My adviser is nice,' " he said. "But nice doesn't have anything to do with competency or integrity."

I hope this registry works. But even if you decide to go it on your own, at least follow these few tips:

· If an adviser claims to have a certain credential, check it out. For example, if they say they are a CFP, check with the Certified Financial Planner Board of Standards Inc. at http://www.cfp-board.org or call toll-free at 888-237-6275. Find out if there has been disciplinary action against the planner.

· Make sure the adviser is properly registered. So many investors could be spared the heartache if they would do this one thing. The SEC can help you check out brokers and advisers. Go to http://www.sec.gov/investor/brokers.htm . Find registration and other background information on investment professionals and firms by checking with the NASD at http://www.nasd.com or call 800-289-9999. The North American Securities Administrators Association can give you the telephone number of your state securities agency. Go to the association Web site at http://www.nasaa.org and click on the link for "Contact Your Regulator."

Michelle Singletary discusses personal finance Tuesdays on NPR's "Day to Day" program and online athttp://www.npr.org. Readers can write to her at The Washington Post, 1150 15th St. NW, Washington, D.C. 20071. Send e-mail tosingletarym@washpost.com. Comments and questions are welcome, but because of the volume of mail, personal responses may not be possible. Please also note that comments or questions may be used in a future column, with the writer's name, unless a specific request to do otherwise is indicated.