It’s no secret that the Australian Securities and Investments Commission (ASIC) has had its eye on financial advisers over the past few years, and its latest move to give people tips on how to choose a suitable adviser shows the regulator still has some concerns.

Executive Director of Consumer Protection Greg Tanzer says the hardest thing for consumers is knowing how to choose the right financial adviser.

The tips include dealing only with professional advisers who hold an Australian financial services licence, and thinking more clearly about financial decisions.

ASIC suggests consumers seek advice from bodies like the Financial Planning Association if they need help in finding an adviser. And they should speak to a few advisers before making a choice.