I will add an Eighth criteria - avoid an investment adviser whose job is to sell product.

The whole premise of Criteria 1 "Licencing" should be about credentials, qualification, and fiduciary duty.  Not about how much product they can sell you.  Even thinking in terms of your investments as financial product is completely counter productive.

Investing should be about owning an asset that will generate income in multiples that exceed your initial investment.  Whether that is owning part of a company, owning corporate or government debt, or lending your money to the bank via GICs, Term deposits or savings account.

Nothing wrong with buying a managed investment if that is your preference but you still need to know and understand what is in the package.  And the cost of that packaging.