31st
Oct 2012 would be a historic day for Malaysia financial planning industry with
the launching of newly formed Association of Financial Advisers (AFA) at Lanai
Kijang, Bank Negara Malaysia. From now onwards, AFA will effectively represent all the Licensed Financial
Advisers and Corporate Unit Trust Advisers (CUTA) Firms. The association is
approved by Registrar of Societies on the 16th August
2012 with the support from Bank Negara Malaysia.
In
conjunction with its launching, AFA also held its inaugural financial advisers
conference titled “Charting New Frontier – FA the Future”. During the
conference, audiences were empowered with up to date practices by Bank Negara
and Securities Commission. Then, an interesting forum on the Future of Malaysia
Financial Advisers Industry was discussed with everyone attentions. How we
benchmark ourselves with other countries? We heard some success stories from
Singapore and Hong Kong.
It was a
successful milestone event for financial planners and CUTAs judging by the
numbers of financial practitioners who attend the event. Product manufacturers,
such as insurance and unit trust companies, started to realize the potential
influences of financial planners and CUTAs in distributing their products and
services. This signifies the bright future of financial planning industry
moving forward, in line with the Capital Master Plan 2 by Securities Commission
of Malaysia. There is no better time to be a licensed financial planner now.
This is a
guest post contributed by Alex Yeoh, a licensed financial planner with VKA Wealth Planners. Finance Malaysia is glad to have Alex's input on financial planning matters. You may contact him via alexyeoh@vka.com.my
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