Malaysia still lacks licensed financial planners, says FPAM

KUALA LUMPUR: Malaysia still lacks licensed financial planners who can help members of the public make the right financial decisions.

Financial Planning Association of Malaysia (FPAM) president Ismitz Matthew de Alwis said there are lots of opportunities for licensed financial planners in Malaysia.

“We have been meeting with the regulators to promote financial planning and literacy among the public, and financial institutions are also moving towards educating the public on financial planning,” he told reporters at the Financial Planning Symposium 2019 here today.

Financial adviser representatives are regulated and approved by Bank Negara Malaysia and their role is to advise on and bundle suitable financial products based on clients' needs to achieve objectives like life, health and asset protection.  

Chief executive officer, Linnet Lee said a licensed financial planner can provide direction for the personal financial management, investment, personal taxes, retirement and estate planning.  

“This enables better control of your money, while growing and protecting assets. They can also help you make the right choices and avoid costly mistakes," she added.

Meanwhile, the one-day symposium is to discuss relevant and important topics on compliance, leadership, integrity and investment alternatives.

In conjunction with the symposium, FPAM also launched its upgraded website to serve its 4,000- strong members and stakeholders. - Bernama