As promised, Finance Malaysia blog would like to educate public at large on the importance of personal financial planning after knowing that most Malaysians falls into debt traps because of poor financial planning. After finding out, we're surprised that actually not many of us know that there is this NEW distribution channel in financial place --- Financial Planner.
The NEW Alternative...
This trend continues for so many years back then until Securities Commission of Malaysia and Bank Negara Malaysia comes out a framework or guidelines introducing financial planning industry in year 2007. Then, financial planning firms emerge in the market place. Of course, financial advisor/planner came into picture naturally.
Role of a Financial Planner?
By definition (Wikipedia), a financial planner is a practicing professional who covers the whole process of financial planning including cash flow management, education planning, risk management, investment planning, retirement planning, estate planning, tax planning and business succession planning (for business owners). The key defining aspect of what the financial planner does is that he/she considers all questions, information and advice as it impacts the financial situation of client.
Highly Regulated?
In Malaysia, the term 'financial planner' was highly regulated and legislation was in place requiring a person to be licensed before he/she can call himself/herself as 'financial planner'. Authorities view financial planner as a professional and such title could differentiate them from the rest of financial practitioners. Same goes to titles like 'Dr' only for Doctor or doctorate graduates, and 'Ir' for qualified professional engineers to instill the confidence of public based on titles and qualifications.
It's an offence to call on yourself as a financial planner or practicing financial planning for clients, if without license in Malaysia. Those who found with such offence, on conviction, be liable to fine not exceeding RM5mil or imprisonment not exceeding 5 years term or to both. Wow... it's as a serious offence.
Even said so, many insurance agents or unit trust consultants committed the offence without realizing it. So, please tell your insurance agent or unit trust consultants whom you love or care about.
Source: Role of Financial Planner handbook
Pretty good post. I just stumbled upon your blog and wanted to say that I have really enyed reading your blog posts. Any way I'll be subscribing to your feed and I hope you post again soon
ReplyDeleteThanks for your compliment. Finance Malaysia blog will continue bringing the best to you all. Stay tune!
Deletegreat article
ReplyDeleteOgniwa fotowoltaiczne sklep
Thanks for the information, I've been researching personal finance online in order to plan for my retirement. I've had a few people suggest that I sell my structured settlement and invest the money, but I'm not sure if that is the best strategy.
ReplyDeleteThanks for sharing... Such a nice information about the best marine insurance company in india !
ReplyDeletebest lease rental discounting rates in india
Thanks For Posting !
ReplyDeleteNice & Informative Information.Financial planning is the process of making plans to achieve monetary goals. Financial Planning is a Proper Way to Manage Your Money. Financial Planner Helps You Defining Your Goals, how to make a Plan.
Hi, nice post. Well what can I say is that these is an interesting and very informative topic. Thanks for sharing your
ReplyDeleteideas, its not just entertaining but also gives your reader knowledge. Good blogs style too, Cheers!
- The financial planner boston
I like your post.Thank you for sharing it.Good job. Keep it up
ReplyDeleteSteven Conville
Nice write-up has been shared. In this competitive business world, it is quite essential for businesses to hire a professional financial advisor who can manage your entire financial status in an excellent manner along with making your business grow towards successful directions. I am also aware of a website which acts as financial advisor Sydney and specializes in handling financial direction of mid and large businesses. I am sharing that website as I think that will surely prove like beneficial for business owners.
ReplyDeleteThank you for your post. This is excellent information. It is amazing and wonderful to visit your site. It really gives me an insight on this topic.Here you can find many more tips about Self Improvement and Personal Finance.
ReplyDeleteNice post , some excellent information are included in this topic That i was searching for.Thanks to share this information. keep up this good work.
ReplyDeleteAsesor financiero
James Gerrard financial advisor delivers essential market information and strategies that advisors need to succeed in their increasingly complex environment.
ReplyDeleteMore stringent laws and guidelines are being progressively introduced to keep the profession in check. Additional qualifications have also recently emerged that have extended on the financial planner series of designations, to include specialist skill sets like those in wealth management or private banking.VS Credit Card
ReplyDeleteI have been visiting various blogs for financial planning company in india. I have found your blog to be quite useful. Keep updating your blog with valuable information... Regards
ReplyDeleteThis is what I'm talking about. Financial planners are really in need these days and it's important that every single person in this world should know it. There's no other way to survive the future except to invest on it. certified financial planner certification
ReplyDeleteThis page is very informative and fun to read. I appreciated what you have done here. I enjoyed every little bit part of it. I am always searching for informative information like this. Thanks for sharing with us. Holborn Assets
ReplyDeleteThank you for your post!This tutorial is fabulous! Lots of great info including, financial advisor company aggressively recruit their own sales force of advisors to promote only the organization’s limited product shelf. The perfect advisor would hold more than one industry license such as a life insurance license, mutual fund license or securities license
ReplyDeleteAmazing blog you have | I would like to say one thing about your blog that is you have done good job on this post keep doing well, thank you
ReplyDeleteFinancial Planning Company
This is truly amazing! Everyone should have basic knowledge of financial planning. However, when you are going to invest as a newbie then it becomes highly important to get a professional advice. I do seek advice from my personal financial advisor Las Vegas and mostly find it beneficial.
ReplyDelete