Finding a financial planner that has the knowledge and ability to optimize your financial situation and look out for your best interest, on all accounts, and at all times, can be really challenging.

Especially when you've already narrowed down the field and are left comparing two seemingly equally qualified professionals, it may be difficult to tell the difference. Sometimes it's helpful to look at an extreme example to highlight red flags.

For anyone that hasn't been living under a rock for the last 30 years, you've probably seen at least one of the three Back to the Future movies. Let's use Dr. Emmett Brown from the trilogy to illustrate some red flags and why he would have made a terrible financial planner.

Finding the right financial advisor for your particular situation can be incredibly tough and time-consuming. To help you begin to filter through the many financial professionals, numerous articles have been written about what questions to ask. 

I even wrote an article on the subject and outlined five key factors to consider:

1. Education and Experience
2. Certifications
3. Fees and Conflicts of Interest
4. Standard of Care
5. Working Relationship

A factor I didn't mention was inquiring about an advisor's own financial situation. I asked several financial advisors to weigh in on whether they thought their own financial situation would be relevant to prospective clients, and most agreed sharing certain aspects could be helpful. Here's what you may want to ask a prospective financial advisor about their own finances.

InvestmentNews recently named lifelaidout founder, Roger Ma, as one of its 2017 40 Under 40. Based on accomplishments to date, contributions to the financial advisory industry, leadership and promise, Roger was chosen from more than 800 nominations.