Understand the implications of the generic term "financial planner". Financial planning is not regulated in most Canadian provinces. This means that anyone can call themselves a "financial planner". Not everyone who refers to themselves as a planner is indeed qualified; many so-called financial planners are licensed to sell products but have no financial planning training or expertise. In the absence of government regulation, consumers must ensure their planner is indeed trained, certified, and held accountable to provide professional financial planning.
Ten questions to ask a potential financial planner:
More info at http://www.fpsccanada.org/public/articles/10_questions_ask_your_planner
Source: Financial Planners Standards Council (FPSC), 1-800-305-9886