'Mellody's Mail': How to Pick a Financial Adviser

Although you should be asking a lot of questions, it is equally important to carefully listen to each response. You should be wary of advisers who promise sky-high or guaranteed returns. Think of choosing a planner in the same way as you would select a physician for yourself. If you do not feel comfortable with the planner, pick someone else. Also be sure to ask the planner for a list of current clients who you can contact to inquire about their experiences. Reference checking is a must.

E-mail Mellody with your personal finance questions.

Mellody Hobson, president of Ariel Capital Management (arielmutualfunds.com) in Chicago, is Good Morning America's personal finance expert. Ariel associates Matthew Yale and Aimee Daley contributed to this report.