A Consumer's Guide to Financial Planning

Provides direction to your:

• Personal Financial Management​

• Cash Flow

• Estate

• Retirement

• Investment

Better control over your money

Grows and protects your assets

Make the right choices and avoid costly mistakes

If you are thinking of starting a family

If you are approaching retirement

If you have inherited money

If you want to preserve or accumulate Wealth​

Other life-changing events

Ascertain your direction in life

Define your life's priorities

Work out the route/financial plan for you to achieve your life goals

Walk you through the financial roadmap and its solutions

Ensure you are on the right track throughout the journey

Establish and define the client-planner relationship

Gather client data, including goals

Analyze and evaluate your financial status

Develop financial planning recommendations and/or alternatives

Implement the financial planning recommendation

Monitor the financial planning recommendation

Unit Trust Consultant (UTC)

• Offer unit trust products which suit your risk appetite from the attached UTMC

• Tied to only one unit trust management company (UTMC)

• Registered with the Federation of Investment Managers Malaysia (FIMM)

Private Retirement Scheme (PRS) Consultant

• Offer the most appropriate PRS products from the attached PRS provider​

• Tied to only one PRS provider

• Registered with the FIMM

Wealth Managers (WMs)

• Banks employees​

• Represents commercial banks which are licensed and regulated by BNM

Financial Consultants (FCs)

• Recommend financial products & services (e.g loans, credit cards, etc.) based on personal needs and risk appetite​

• Represents commercial banks which are licensed and regulated by BNM

Insurance/Takaful Agent

• Sells insurance policies/takaful plans issued by the represented insurance company/takaful operator​

• Represents the principal insurance company or takaful operator

• Regulated by: PIAM (general agent), LIAM (life agent) & Malaysian Takaful Association (takaful agent)

A professional who represents the financial planning company

Both the company and the Financial Planner are regulated by the Securities Commission (SC)

Log in to www.sc.com.my

Click on the "Licensing" tab

Scroll down to the "Public Register of License Holder"

Browse assuredly

Get a clear picture of your financial situation.

• Assets - Property, savings, car; other investments​

• Liabilities - Debts including loans, mortgages and outstanding credit card balances

Ask yourself what type of financial plan you would like to have.

• Comprehensive - Examines all financial areas simultaneously (protection, investments, retirement, estate planning)​

• Modular - Addresses a specific segment of your financial life

During initial engagements, your Licensed Financial Planner will provide you with:

• The scope of the plan​

• Fees - How you will be charged

• Confidentiality clauses

Financial Planning Companies & Licensed Financial Planners (LFPs)

• Coach & guide you on your financial goals and can draw up a detailed financial plan​

• Provide direction and appropriate solutions tailored to your needs

• Review your financial plan regularly to ensure you are still on track to attain your goals

• Both are licensed by the SC

• Represents consumer

Financial Advisers (FAs) and Financial Adviser's Representatives (FARs)

• Provide advisory services on financial products & other related services on a need basis​

• Independent entities who can advise you on the best plan from a wide range of products/plans

• FAs are companies approved by BNM to provide financial advisory services; FARs are their appointed representatives

• Represents consumer