Friday, September 22, 2017

Financial Planners vs. Financial Advisers

"So many people posted themselves as Financial Adviser or Financial Planner"....

Before you engage or buy anything from anyone, ask these questions

1) Are you licensed? If yes, by Bank Negara Malaysia or Securities Commission?
2) Do you have relevant qualification? RFP, CFP?
3) Do you act at my best interest? Not selling me plan not to my best interest?

So, who should you talk to? Financial Planner or Financial Adviser? What are the different?

In Malaysia, 

Financial Planners are

  • Individual registered with either FPAM or MFPC as Registered Financial Planner (RFP) or Certified Financial Planner (CFP)

Financial Advisers are
  • Companies licensed by Bank Negara Malaysia (BNM), approved by BNM as Financial Adviser, to conduct Financial Advisory business.
  • Since Financial Advisers are Sdn Bhd, they engage with Financial Planners as their representative (also known as Financial Adviser's Representative, in short FAR) to meet with clients.
  • In some countries, FAR also known as Independent Financial Adviser (IFA).

However, in Malaysia, practically FA and FP are interchangeable and are the same, in the eyes of the public.

Financial Planners are mainly providing one or few of the following services:-
1) Financial Planning, or
2) Investment Planning, or
3) Insurance Planning, or
4) Estate Planning
5) Construct and/or Review Financial Plan

Interested to talk to IFA?
Click here to Whatsapp us, your Independent Financial Adviser.
Free 30 minutes consultation.

What is Insurance Planning?

Insurance Planning & Estate Planning is covered in Module 2 of Certified Financial Planner (CFP) program.

Most people knows what is Insurance and most people "buy" insurance or being "sold" insurance either directly or indirectly.

However, what most people do not do is Insurance Planning. 

Most likely layman can not do Insurance Planning by themselves due to lack of knowledge in the principle as well as the products.

These are the buzzwords for Insurance
#Insurable Interest
#Whole Life Insurance
#Endowment Insurance
#Term Life Insurance
#Waiver of Premiums
#Personal Accident Insurance
#Cash Value
#Surrender Value
#Unit-Linked Policy
#Participating Fund Policy
#Assignment of Policy
In order to be able to do a proper "Insurance Planning", without being sold a policy, you need to have knowledge about Insurance as well as the products available in the market. Alternatively, get yourself a good Adviser.

Factors to be considered when doing Insurance Planning, or review the Plan, are

  • Age
  • Dependents
  • Goals
  • Assets & Liabilities
  • Asset Allocations

Last but not least, Insurance Planning is just part of Comprehensive Financial Planning. Ideally to do a Comprehensive Financial Plan first, which include Insurance Planning, instead of just do part by part.

Click here to Whatsapp us, your Independent Financial Adviser.
Free 30 minutes consultation.


Why do people invest?

Investing can be defined as
the act of committing money (or capital) to an endeavour with the expectation of obtaining an additional income or profit.

In layman word,
I invest so i don't spend it today, i stand to get more to spend in future.

There are people who invest to seek an income stream in order to replace active income, or to supplement their primary source of income. Many retired people live off the income from their investments, for example, dividends from shares and rent from property.

Tuesday, June 6, 2017

Motor (Car) Insurance, the new pricing

Better driver will get better price.
Good research will get you a better price.
Look for a good agent may give you a better deal.

DIY Motor Insurance?

Online Car Takaful Renewal

Get a quote from here... you might want to compare what you agent gave you....  from eTiQa Takaful.

Thursday, June 1, 2017

Are you buying Health Insurance or Medical Insurance??

What is the different between Health Insurance and Medical Insurance?

For most people, it sound the same. Only till recently I see the different myself.

You pay premium for "Medical Insurance" to ensure you can afford to pay medical bills when something bad (illnesses) happens. You don't want to go bankrupt because of medical bills. You don't want to limit your choice of hospitals when you need one. Therefore, you buy "Medical Insurance".

So, what is Health Insurance?

Who sells "Health Insurance"?

For me, many people sell health insurance but they are not insurance agent. People like your parent, your relative or even you colleague has been trying to sell you Health Insurance.

Health Insurance is
* Healthy Lifestyle
* Eating Right
* Sleep Enough
* Supplement since we can't get enough from food

Do you agree Health Insurance is more important, or at least equally important as Medical Insurance?

Click here to Whatsapp us, your Independent Financial Adviser.
Free 30 minutes consultation.