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Published by Afterschool.my on Dec 12, 2013, 02:00 pm
The country's financial planning industry is facing shortage of young talent. Many financial institutions such as banks and insurance companies have started offering financial planning services to their clients, said Md Adnan Md Zain, president. He added that financial planning is a challenging profession that requires knowledge, skills, positive attitude and perseverance.
However finding the right people has been difficult because many certified planners are not licensed, most graduates do not view financial planning as a professional career and some prefer to go for salary-based professional occupations rather than become commission-based planners.
Currently there are about 500 licensed financial planners, including those who have capital market securities representative license (CMSRL) and financial advisor representative (FAR).
"The ratio of financial planners to the working population is 1:33,400," says Linnet Lee Soo, head of financial planning at Standard Financial Planner.
The Securities Commission Malaysia (SC) is the sole licensing authority that approves CMSRL licences while Bank Negara Malaysia (BNM) is responsible for the licensing and regulation of FAR licences.
To know more about courses that lead to financial planning roles, click here
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