26 July 2013

How to Become a Financial Planner?

After the two series of article on Financial Planning and Financial Planner. Some of you may asked: "Is it difficult to become a Financial Planner? What's the requirement needed?"

Hmmm... Good news is it is not difficult, but the bad news is it's not easy either and the requirements for sure will be raised in the future.

So, how?
In Malaysia, those who practice as Financial Planner must pass any one of below examinations:
  1. Registered Financial Planners (RFP) issued by Malaysia Financial Planning Council (MFPC)
  2. Certified Financial Planners (CFP) issued by Financial Planning Association of Malaysia (FPAM)

After you have passed the said examination, it doesn't mean that you're a Licensed Financial Planner straight away. Why? It's just serves you an entry passport only. Once you have accredited the qualification, you must apply the required licenses with Bank Negara Malaysia (BNM) and Securities Commission (SC) before you can carry out financial planning activities.

By then, you can claimed the following title:
  • Financial Adviser Representative (FAR) by BNM
  • Licensed Financial Planner by SC
Please take note that passing the said examinations doesn't carry you the titles, getting the licenses does. If not, you're deem to have convicted an offence which can land you in jail or subject to hefty fine.

Other requirements include:
  • Must be a Malaysian citizen
  • At least 21 years old
  • Have minimum 3 years related experience
  • Must be a FULL time practitioner
  • Then, you must fulfill the minimum hours for personal development programs every year

Next, we will talk about "The Challenges Faced by Financial Planning Industry in Malaysia"

This article was contributed by Alex Yeoh, a licensed financial planner with a reputable financial planning firm. Finance Malaysia blog will work together with Alex in bringing more interesting articles on personal financial planning. You may reach him via email alexyeoh@vka.com.my


  1. Good advice... thanks for sharing!

  2. earn a Certified Financial Planner Certification you must complete various requirements that are set by the CPF Boards. You must complete the educational qualifications wherein you have to earn a Bachelor’s degree or higher from any form of discipline. Aside from that you also have to complete the CFP course program wherein you have to take special courses that are relevant in financial services and most of all it can help you in passing the CFP certification exam

    1. Hi, thanks for your input. Yup, for those who want to opt for CFP certificate need to be at least a Degree holder moving forward. However, RFP haven't imposed this kind of requirement yet, which is minimum SPM qualification currently.

  3. Very nice unique post. I really glad to found you.
    Steven Conville

  4. OH! Great post..I was so impressed I've found this kind of blog..Thanks.

  5. It is a fantastic web site and My partner and I cannot recommend you people enough Packed with useful resource and great layout very easy on this eyes. Please do continue this great work. Ali Mudeen

  6. Sean's advice is very straightforward and helpful. I was most impressed with Sean's frankness about my not needing further consultations and services given how simple my situation is.
    accountants maroochydore

  7. This 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. certified financial planner course

  8. I agree with each and every conclusions made on this topic. It is really very informative. Thanks for sharing. financial planning association

  9. I read this blog.This is very interesting blog.You have shared really very good information.If looking for financial services.

    independent pension advice Bristol & Pension Adviser Bristol

  10. Financial planner course is such a difficult course to take on. However, if you go to a more accepted and recommended school, it would be easier to reach your goal. certified financial planner program

  11. very helpful information you have shared you have shared
    I would recommend you to do from certification courses in finance from Imarticus

  12. Nice & 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. Holborn Assets

  13. "Other requirements include:
    Must be a FULL time practitioner"

    If I meet all the requirements as shown above, can I work as a part time financial planner after I get the title?

    1. Hi Wai Mun,

      I think the best way to find it out is via Mr. Alex Yeoh. You may email him via alexyeoh@vka.com.my

      Thanks for reading our blog.

  14. Hi, just a quick check on this. Is this also available to public to take the examination? I mean for those are not working in Financial industry but interested to be a certified financial planner.

  15. Yes. It's open to anyone who want to learn, even though for your own knowledge only. Thanks.

  16. Replies
    1. Hi, you may register with Malaysia Financial Planning Council (MFPC). Thanks.

  17. Hi, may I know that graduate holding unrelated Bac. degree with financial field is allowed to take the RFP exam or not? (etc. Bac. TESOL)

    1. Hi, yes you still can go for RFP exam by using your degree. Thanks.

  18. Valuable information. Fortunate me I discovered
    your site accidentally, and I am shocked why
    this coincidence did not took place in advance!
    I bookmarked it.


Finance Malaysia Blog appreciates your comment. Cheers!