QuestionWe have finally decided to retire in December and have been selecting a financial planner using the Moneysmart website as a guide. After talking with a few advisers, we have found the fees being proposed seem all over the place. AnswerUnfortunately, there are no fee scales, and a lack of clearly defined standards means there are no set costs or schedules. In some cases, “wholesale” investments may be even more risky. Instead, the regulator imposes a simple financial test which was set more than 25 years ago in 2001.