Eighteenth century English author Samuel Johnson once noted that there are two types of knowledge. The first is actually knowing something, and the second is knowing where to find it. That, in a nutshell, sums up the situation for most people trying to manage their own money. Either you know enough to feel comfortable investing, know where to get the information to make informed decisions, or know that you need help.

But if you fall into that last group and all you know is that you need to hire an advisor, your knowledge is still short by at least one piece of crucial information. You must know how to do a background check on a broker or financial planner.

Recently, the Investors Protection Trust--a group that promotes investor education and fights securities fraud--issued a survey on financial literacy that showed, again, the alarming lack of money management knowledge of the average American.

No matter how unsettling, the findings on America's financial knowledge level weren't particularly new and enlightening.

But the group also looked at the number of investors who investigated the disciplinary background of their broker or financial planner and found that nearly 90% of the people paying for advice never did a background check. Experts say they believe that virtually no one checks out the experts before signing on.

That's the financial equivalent of riding a high-speed motorcycle without a helmet, walking a tightrope without a safety net or skydiving without a backup chute. You might be fine, but you could end up hurt because of your carelessness.

"One of the things that amazes me is that people give their money to someone they have never done business with before, based on business cards and appearances, and those are really dangerous waters to be swimming in," said Neal E. Sullivan, executive director of the North American Securities Administrators Assn. "They are just playing with fire."

It's easy to find out if an advisor is now or has ever been in trouble. If you have a financial counselor--or plan to get one in the future--here is what you will need to do:

1. Line up the advisors you are considering.

Round up the names of a few planners or brokers whose services meet your needs. You may develop this short list from referrals or off the bulletin board at the health club, but the idea in picking an advisor is to interview several.