The smartest way to begin a relationship with a broker is to call and make an appointment with the branch manager at the brokerage firm you're interested in.

When you go to your appointment, remember one very important fact: You're interviewing them; they're not interviewing you! You are looking to employ them and not the other way around. Your initial meeting with an officer of the firm is to determine the firm's financial integrity. If a company is small and not as well-known as Merrill Lynch or Smith Barney, you want to know:

1. How long have you been in business? It should be at least three years.
2. How much working capital does your firm have? It should be at least $500,000.
3. What type of clients does the firm specialize in? It should be clients who have investment objectives similar to yours–conservative, aggressive, income-oriented, etc.

With both large and small firms, ask for a quarterly statement of account activity. Make sure the statement is easy to understand and ask questions to clarify anything.

After discussing the size of your portfolio and your needs and objectives with the person in charge, he or she will recommend that you meet a specific broker. Test the personal chemistry between you the broker.

Before you begin investing your money with any individual, check with the Financial Industry Regulatory Authority (800/289-9999) to see if any disciplinary actions are on file against that broker.

Make sure you feel comfortable entrusting your hard-earned money to this person. But never forget that ultimately, you are responsible for your money. The broker is only an overseer. Don't ever promote him or her to something more. Never, ever give a broker "discretion" to make trades without your approval.

To learn more about financial planning with a broker, click below:

• Can You Trust Your Broker?
• Investing with a Broker or Financial Adviser
• A Dolan Expose: Brokers' Favorite Tricks