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Certified Financial Planner
BECOME A CERTIFIED FINANCIAL PLANNERCM PRACTITIONER

More than a decade ago, financial planners were almost unheard of. With Malaysians becoming more affluent, the demand for the service of financial planners is growing rapidly. People these days have more sophisticated demands. They are no longer satisfied with simple investment planning, and are seeking out financial planners not only to manage their wealth but also to extend their kitty while maintaining or improving their lifestyle. Why financial planning?

Financial Planning is the process of meeting an individual’s life goals through the proper management of his finances. Life goals can include creating wealth, buying a house, going for vacations, saving for a child’s education or planning for retirement.

Local Recognition of CFP by Bank Negara and Securities Commission

Bank Negara has recognized the CFP qualification as a prerequisite for application of the Financial Adviser’s licence.

Prior to this, Modules 1 and 2 of the CFP certification program had been recognized by Bank Negara for the purpose of complying with the requirement that all life insurance agents of more than one year need to attend these modules.

The latest recognition by Bank Negara is a further testament of the standard of the CFP qualification and its credo of the "Highest Standard in Financial Planning". 

Earlier, CFP was already recognised by Securities Commission as a prerequisite for application of the Investment Adviser’s licence

International Recognition of CFP by 20 Countries/Regions in the World

CERTIFIED FINANCIAL PLANNER professionals meet competency, ethics and professional practice standards based on an international platform of education, examination, experience and ethics/professional practice requirements (the 4Es). CFP certification standards for each country/ region have been adapted to meet domestic marketplace, regulatory and educational needs. For data on the global growth of CFP Professionals over the past decade, visit Global Growth of CFP Professionals. For an overview of the international CFP certification program and the state of the financial planning profession globally, visit FPSB web site HERE.

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What a Certified Financial Planner is (US Version)

Take the challenge

For those who are interested in pursuing CFP qualification in Malaysia, do take note that candidates with certain qualification and/or professional credentials can apply to Financial Planning Association of Malaysia (FRAM) for approval under the CFP Challenge status. Under this status, the approved member is only required to complete a 40 hours of class-room based lectures to be followed by  6 hours of Module 6 examinations. They are exempted from Module 1 to 5 examination of the CFP programme.



The CERTIFIED FINANCIAL PLANNERCM and
CFP® certification marks identify what a financial planner is, establishes a standard of professional practice and creates a “mark of quality” that consumers can recognize and for which practitioners may aspire to attain. The financial planner who uses this mark is recognized as having met the highest standards for the practice of financial planning. The international CFP® Council works to ensure that a well-defined six-step process used by a financial planner will place the client’s interest and needs first. As of September 2008, there are more than 111,000 CFP® certified practitioners worldwide and the number is growing.

In Malaysia, CFP certification programme has becoming more and more popular. The Financial Planning Association of Malaysia (FPAM) currently enjoys with more than 11,000 members and over 4000 of them are CFP® certified practitioners with another 7000 of them still pursuing CFP® certification programme. Majority of Malaysia's CFP holders are mainly from financial industry: about 65% of them are attached to banks, unit trust, insurance, financial advisory and stock broking companies, with another 18% are accountants. About 16% of CFP holders in Malaysia are from non financial corporations.

Benefits of becoming a CERTIFIED FINANCIAL PLANNERCM Practitioner :

* Acquire knowledge and develop expertise in retirement planning, insurance, investment, tax and estate planning.
* Be associated with the most internationally recognized and accepted designation in financial planning.
* Earn your credibility and respect from the public and distinguish yourself from your competitors.
* Increase your business earning potential and add to your career growth and professional fulfillment.

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The Certified Financial Planner certification will be earned by individuals who have demonstrated technical competency combined with practical experience which enables them to write a comprehensive, functional financial plan for an individual, all the while conforming to the international CFP mark.


The Associate Financial Planner Malaysia will be competent to recommend general financial planning strategies and to advise on the appropriate selection and use of various financial products for individuals, e.g., insurance, unit trust and a broad range of securities and banking products.

Everyone Ought to Learn Financial Planning

The CFP® and AFPM Certification Requirements

In order to be certified, a candidate for the CFP® certification must meet all four requirements of the certification process described below, while a candidate for the AFPM certification must meet the education, examination and the ethics requirements. In Malaysia, KDU Management Development Centre (KMDC) is the leading educatio provider of CFP programme. For enrolment and more informaiton about CFP course offered in Malaysia, please contact KMDC.

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Education

Before applying for the Certification Examination, a candidate must complete academic coverage of the financial planning curricula including :

- Foundation in Financial Planning
- Risk management and insurance planning
- Tax planning
- Investment planning
- Estate planning and Retirement planning
- Financial Plan Construction and Professional Responsibilities


Examination


Upon successful completion of the academic requirement, the candidate is eligible to apply for the Certification Examination. The Certification Examination is designed to assess the candidate’s ability to apply his financial planning education to financial planning situations in an integrated format, thereby protecting the consumers by assuring that the financial planner is at the appropriate level of competency required for practice.

Experience

This centres on work which involves personal financial planning-related experience. It is designed to provide the public with the assurance that the candidate understands the counseling nature of personal financial planning. The requirement is three years, performed before or after the successful completion of the Certification Examination.

Ethics

Once the education, examination and work experience requirements are met, the candidate for the CFP® certification will receive a Declaration Packet which includes an ethics statement form and his licence application with a bill for the initial licence fee. The candidate for the AFPM certification will also receive a Declaration Packet on completion of the education and examination requirements.

Prior to certification, the candidates will be required to disclose past or pending litigation or agency proceedings and to acknowledge the right of FPAM to enforce its Professional Standards and Code of Ethics through due process described.

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The financial planning process

The financial planning process is defined by the CFP® Board involves the following six key steps:

· Gathering client data, including goals
· Analysing and evaluating your financial status
· Developing and presenting financial planning recommendations and/or alternatives
· Implementing the financial planning recommendation
· Monitoring the financial planning recommendations

More information about Malaysia's CFP® and about KMDC CFP facilitators, exam results & etc; and to download documents and forms, here are the links:

1. About KMDC CFP Facilitators: http://www.kmdc.com.my/html/programmes/CFP_Facilitators.html 

2. About KMDC CFP Exam results (we always deliver the best results among CFP education providers): http://www.kmdc.com.my/html/programmes/CFP_Results&Awards.html

3. About: Malaysia's CFP requirements & options: exemptions and Challenge Status: http://www.kmdc.com.my/html/programmes/cfp_requirements.html 

4. Instructions on enrolment & payment: http://www.kmdc.com.my/html/programmes/cfp_how_to_enrol.html

5. KMDC CFP Timetable: http://www.kmdc.com.my/html/programmes/cfp_KL_Schedule.html 

6. Contact KMDC: Addresses, Locations and Maps: http://www.kmdc.com.my/html/programmes/cfp_contact_us.html 

7. Malaysia's CFP Fee: http://www.kmdc.com.my/html/programmes/cfp_fee_structure.html 

Corporate rate available for all employees (both full time and part time) of financial institutions and media companies: enjoy about 20% off the standard fee.  

8. Malaysia's CFP Course outlines: http://www.kmdc.com.my/html/programmes/cfp_outline.html 

9. Frequently Asked Questions about CFP: http://www.kmdc.com.my/html/programmes/prog_04cfp_faq.html

10. Why choosing KMDC? Advantages and Benefits: http://www.kmdc.com.my/html/programmes/cfp_28_reasons.html

To APPLY and ENROL for CFP programme, Click HERE

ESSENTIAL INFORMATION (Application and Payment) (requires Acrobat Reader)

+ Download document on "How to enrol for CFP Exam and Courses" HERE
+ Download KMDC Application Form HERE
+ Download KMDC Re-admission Form (for continuing learning members) HERE
+ Download 2008 CFP Timetable - KL & PJ (July - December) HERE
+ Download KL DOWNTOWN CENTRE (FTMS College) LOCATION MAP HERE
+ Download PJ UPTOWN CENTRE - Uptown Conference Centre (UCC) LOCATION MAP HERE

+ Download CFP Standard Fees & Corporate Package 2008 HERE
+ Download CFP Brochure HERE
+ Download KMDC CFP Examination Results (2003-2008) HERE
+
Promotion: 2008 Early Bird Scheme HERE

+ Promotion: 2008 Friend2Friend Scheme & Nomination Form HERE
+ Download Instructions on Using SMS for Checking Information & Enrolment HERE

MORE INFORMATION (requires Acrobat Reader)

+ Download CFP Syllabus HERE
+ Download FPAM Trade Member Form HERE
+ Download Associate Member Form HERE
+ Download FPAM Examination Registration Form HERE
+ Download "CFP Option B - Partial Exemption" Application Form HERE
+ Download "CFP Option C - Challenge Status" Application Form HERE
+ FPAM Web site HERE
+ FPAM Chartered members and related links HERE
+ FPAM Survey Result

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