In Malaysia, in order to practice as a licensed financial planner or an independent insurance adviser or unit trust consultant the person needs to have the pre-requisite certifications such as the Certified Financial Planner (CFP) or Registered Financial Planner (RFP).
Apart from having the professional qualification, in order to be regulated and authorised to carry out financial planning/ advisory activities, both the company and its representatives have to be approved by Bank Negara Malaysia, Securities Commission and Federation of Investment Managers Malaysia.
Finwealth Management is an approved Financial Adviser under Bank Negara Malaysia - http://www.bnm.gov.my/index.php?ch=li_fin_adv&pg=li_fin_adv&ac=3&lang=en
Finwealth Management is a licensed Financial Planning firm and Corporate Unit Trust Adviser (CUTA) and Corporate PRS Adviser (CPRA) under Securities Commission Malaysia (SC) and Federation of Investment Managers Malaysia (FIMM) respectively.
FIMM - https://www.fimm.com.my/distributors/unit-trust/corporate-unit-trust-advisers-cuta/
Fee-based advice is where you pay an advisory fee to access independent advice and receive a holistic financial plan to help you on your path to achieve your desired financial goals. Any product or service sale is not compulsory for you to obtain the unbiased advice
Often times, people do not have a big picture view of their finances and generally make financial decisions based on their current income/ lifestyle wants (or a good sales script from a friendly financial product agent).
Some end up struggling in their monthly cash flows due to over-commitment of (lifestyle) expenses such as car instalments or property “investments” which end up being monthly mortgage burden due to low rental yields.
Some do not see their wealth aka net worth growing due to poor financial planning and lack of guidance in terms of how to optimise their savings and investments in a safe and secure way.
We strongly believe this is a situation where “Knowing Something” and “Doing-It-All-Myself” may not necessarily result in positive outcomes as most times, people do not have the knowledge, experience and time to learn all areas of personal finance and wealth management such as insurance planning, investment and estate planning. More importantly, all this knowledge requires discipline to ensure that the work/review is done repeatedly over a long period of time to ensure that adjustments are made based on changes to your life stage and financial situation such as purchasing of properties, marriage, having kids, achieving your life bucket lists and last but not least planning for a comfortable retirement and providing a legacy to your loved ones when you’re no longer around.
Hence as professionals who comprise of a team of specialists in these areas, we strive to be the advisor that provides the human touch that walks and handhold clients in their financial journey by taking action on the things that matter and avoiding blind-spots/ financial mistakes that can jeopardise their financial future.
The saying, “You do not know what you do not know” holds true when we have a tunnel vision of what we thing is right and most times we need a 3rd party/ 2nd opinion to validate and point out the missing pieces to complete your financial puzzle.
