Era of product-selling is ending soon.
More and more (financial) products are available online now at lower cost or price.
(Askchong: lower not necessary cheap)
Consumer can go direct, get lower price or with discount, for products like Motor (car) insurance, Travel insurance, Term Life etc.
Hong Leong Assurance's products available to public via online, without agents, supposedly cheaper as no commission to be paid to agent/agency.
(Askchong: this link is hidden under www.hla.com.my and no marketing to really show to the public)
U For Life provide simple Term life.
Investment like unit trust can also be bought online, at lower sales charge e.g. fundsupermart.com and 'middle-man' like unit trust consultants will face the same challenge as insurance agents.
All these are part of the Bank Negara's big plan of market liberalization.
What can Adviser/Planner (licensed by Bank Negara and Securities Commissions of Malaysia) do in the coming new era?
Adviser/Planner will 'sell' their service to provide financial advisory, identify client's financial needs and match it with the right solutions.
No more product-selling.
Market Outlook as at October 17, 2017
17 minutes ago