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Financial Planning

Financial planning may seem like an everyday habit that should be practiced by responsible investors who want to control their own spending. From our point of view, financial planning can almost be likened to a skilled technique that is designed to not only make the best out of one’s budget, but to grow it so that it can sustain an investor through multiple life stages.

Whether you are fresh out of university looking to enter the workforce, or a retiree wanting to make your retirement savings last, we can help get you to your destination no matter where you are in life.

Determining your current financial situation.

Developing financial goals.

Identifying alternative courses of action.

Evaluating alternatives.

Creating and implementing a financial action plan

Reevaluating and revising the plan.

Frequently Asked Questions

For Clients

Financial Planning is needed as it allows you to reach your financial goal within a desired time frame for milestones such as children’s education, retirement savings, and an emergency fund for unforeseen circumstances.

Financial Planning includes saving and cash management (budgeting), insurance planning, investment planning, tax planning, retirement planning, risk planning and estate planning.

All Financial Planners should have a valid CMSRL-FP license in order to perform financial planning services.

Drop us an email with your contact details to the following address: [email protected].
For Agents

Capital Markets Services Representative’s License – Financial Planning (CMSRL-FP)

According to the SC Licensing Handbook 2022, to become a Financial Planner, applicants must hold a valid CMSRL-FP license. The requirements are:-

  1. at least 21 years old
  2. passed the SC Exam Result for the Modules / Membership / Financial Planning Certificates
Financial Planning AssociationFinancial Planning Qualification
FPAM(a) Certified Financial Planner / Islamic Financial Planner and a member of FPAM.
(b) CFP/IFP – Complete minimum of 3 modules (Module 1,3 & 4) and an Associate Member of FPAM.
MFPC(a) Registered Financial Planner/ Shariah Registered Financial Planner and an ordinary member of MFPC.
(b) RFP/Shariah RFP – Complete minimum of 3 modules (Module 1, 3 & 6), obtain a Certificate of Proficiency in Financial Planning and an Affiliate Member of MFPC.
MFPAA (formerly MAChFC)(a) Chartered Financial Consultant (ChFC) and a member of MFPAA.

Kindly request application forms from your BDM or email [email protected].

Application fees consist of SC registration fee, processing fee and background check fee. For background checks, should there be any additional charges incurred in the process, the cost will be borne by the applicant. Kindly refer to your BDM or email [email protected] for more details.

Upon signing the Letters of Appointment and Agreement, it will take an estimated 2 to 3 months to receive an approval email from SC. Actual time frame subject to further queries received from SC.

Kindly refer to your BDM or email [email protected].

License holders are required to obtain 20 CPE points before the anniversary date and make a payment of RM250 as renewal fee, subject to changes by the relevant authorities.
Financial Adviser’s Representative (FAR) / Islamic Financial Adviser’s Representative (iFAR)

In accordance with BNM’s Consumer and Marker Conduct (Mar 2022):

FARApplicant must have completed the mandatory knowledge areas, such as
  • foundation of financial planning;
  • risk management;
  • insurance planning; and
  • investment planning of the following qualifications:
    • Registered Financial Planner (RFP) conferred by the Malaysian Financial Planning Council (MFPC); or
    • Certified Financial Planner (CFP) conferred by the Financial Planning Association of Malaysia (FPAM)
iFARApplicant must have completed the mandatory knowledge areas, such as
  • foundation of Islamic financial planning;
  • risk management;
  • takaful planning; and
  • Shariah investment planning of the following qualifications:
    • Shariah RFP conferred by the MFPC; or
    • Islamic Financial Planner (IFP) conferred by the FPAM

Kindly request application forms from your BDM or email [email protected].

Application fees consist of bankruptcy search fee and processing fee. Kindly refer to your BDM or email [email protected] for more details.

Upon signing the Letters of Appointment and Agreement, it will take an estimated 2 to 3 months to receive an approval email from SC. Actual time frame subject to further queries received from SC.

Kindly refer to your BDM or email [email protected].

According BNM’s requirement, existing tied agents must resign from existing insurance / takaful operators and submit a copy of the termination letter from the operator.

FAR / iFAR are only allowed one Principal. To transfer to a new Principal, applicants will need to submit a copy of their release letter from the current Principal.

License holders are required to obtain 20 CPD points every year, subject to changes by the relevant authorities.
Marketing Representative (MR)

According to SC Guidelines for Marketing Representatives, to become an MR, the requirements are:-
  • at least 21 years old; and
  • must satisfy the minimum qualification and experience requirements as set out below:
    1. Degree or professional qualification or diploma from an institution recognized by the government of Malaysia; and
    2. Completion of a two-day familiarization program and required assessments at the end of the familiarization program.

Yes, CMSRL-FP license holders can be exempted from the two-day familiarization program.

MR applicants with Kenanga Investors are not allowed to join any other Principals. If the applicant is currently an MR with another Principal, the applicant will need to resign from the current Principal, then only can they apply with KIB.

Kindly request application forms from your BDM or email [email protected].

Starting from Jan 2022, all applications are required to go through detailed background checks. For background checks, should there be any additional charges incurred in the process, the cost will be borne by the applicant. Kindly refer to your BDM or email [email protected] for more details.

Upon signing the Letters of Appointment and Agreement, it will take an estimated 2 to 3 months to receive approval email from BNM. Actual time frame subject to further queries received from SC.

Kindly refer to your BDM or email [email protected].

For MR license only, license holder needs to complete 5 days of training annually, subject to changes by relevant authorities. For CMSRL-FP MR license, license holder needs to complete 2 days of training annually, subject to changes by relevant authorities.
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