Who is Licensed Financial Adviser


Traditionally, most Malaysians tend to handle their money management themselves and only seek financial advice for specific product solution. Many of us are also frequently being approached by agents or consultants who represent banks, insurance or unit trust companies in selling their financial products. As the financial landscape evolve, financial products become more and more complex and sophisticated. But when the advice is given by the representative of the product provider, the questions arise whether the advice given is unbiased and the solution we get is the best value solution in the market.

In order to respond to the call for higher standard of financial services in Malaysia, the authorities have introduced Licensed Financial Adviser to provide holistic financial advisory services in a professional and unbiased manner, ranging from insurance protection, retirement planning and investments for the future. If this is the first time you heard about Licensed Financial Adviser, then this article gives you a brief introduction of them and how they can play an important role in your finances. They are:

Professionally Qualified & Licensed
They are professionally qualified (CFP/ RFP) and have obtained licenses from all relevant authorities (Bank Negara Malaysia, Securities Commission Malaysia and Federation of Investment Managers Malaysia).
CFP: Certified Financial Planner; RFP: Registered Financial Planner

Independent & Unbiased
Licensed financial advisers are independent and do not tie to any financial product providers. When they recommend any products, they can freely source for the most suitable solution from the market, supported by unbiased comparisons. For instance, if you need to buy a product such as insurance or retirement scheme, a licensed financial adviser will find you the best deals on the market. As for investments, they can manage and put the investments from different providers together that match with the client’s purposes.

One Stop Centre for Complete Financial Solution
Licensed financial advisers are able to provide multiple financial solutions to meet your needs at the different stages of your life. This may include financial planning, savings, investments, insurance and estate planning, all in one place. All these financial areas are interconnected. Thus, it is wise to plan it with the overall picture in mind.
Being able to source and implement solutions from a wide range of service provider, financial advisers also help simplify the process of implementing and managing your financial matters.

Providing Personalised Solution
By going through different stages in your life, it is likely that you will need to make several major financial decisions, such as buying a house, starting a family, expecting a baby, investing in business, sending kids for better education and planning for a comfortable retirement. Getting these right will provides your life with significant benefits. Licensed financial advisers create personalised solution based on your unique situation. They help you to determine whether your goals are realistic and advise you on implementing the necessary steps to achieve them. They can provide guidance on matters that you should focus on and also help you implement your plans.

How to Find A Licensed Financial Adviser?

Wealthcare.my can connect you with a licensed financial adviser. Simply tell us a bit about yourself by filling up a simple online form. We will match you with a suitable licensed financial adviser.