A new Securities and Exchange Commission bulletin has been issued with guidelines to investors about the best and safest ways to select a financial advisor – and with your potential business (or lack thereof) in mind, it might be worth taking a look.

Its biggest revelations to individual investors, many of whom may not have any knowledge of the industry, are suggestions to learn how they'll pay for their products and services (as well as how their financial professional will be paid), as well as advice on investigating their credentials and any history of disciplinary action from a regulatory body or a history of customer complaints.

The SEC's five tips include the following:

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