Financial Planners in Malaysia
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4 Places to Find A Financial Planner in Malaysia

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Here’s something I observed, after being in the personal finance space for a while: everyday Malaysians want more guidance in their money management from an unbiased professional (aka not agent). But most people don’t know where to find a financial planner, or even start the process.

I got you. Here are 4 places to find and hire a professional financial planner in Malaysia. #1 is the cheapest option (ie FREE), and #4 is the most affordable option.

#1 – Through free consultation at InvestSmart’s #FinPlan4U event [ENDED; wait for 2022 event]

Cost: Free

The first method is to let the universe pair you up with your fated financial planner (jk jk but not really).

Every year, Securities Commission Malaysia holds the public education event InvestSmart, which includes a collaboration with the Financial Planning Association of Malaysia (FPAM) and Malaysia Financial Planning Council (MFPC). The public can book a one-to-one financial planning consultation under the #FinPlan4U initiative, which is completely FREE.

The only catch is the event only happens once a year, and if you missed it, you missed it, have to wait for next year, usually around Quarter 4. The poster looks something like this:

financial planners in malaysia

I attended a session back in 2018 and had a good experience with my assigned financial planner, and I’d recommend you take advantage of this initiative too – if you like your financial planner’s vibe, you can proceed to hire them, but if not you can continue your search, no worries.

#2 – From financial planner/content creator hybrids

Cost: Varies. RM2000-5000++ is a good starting point

Nowadays, there is more financial content in Malaysia than ever before, produced from konon-terer personal finance bloggers like myself to financial companies to financial planner/content creator hybrids (and more).

Financial planner/content creator hybrids are people who choose inbound marketing strategies to get clients, instead of outbound marketing.

(Simplistically, inbound marketing = clients chase you; outbound marketing = you chase clients.)

In Malaysia, some notable financial planner/content creator hybrids include:

I’m sure there are more but these are the names I can think of atm. I admire them for creating free beneficial financial content and prioritising their audience. If some of those audience members turned to customers, that’s a win-win situation all around.

P/s – if you’re a (licensed) financial planner/content creator hybrid yourself, please comment and I’ll add you to the list.

#3 – Through SmartFinance.my platform

Cost: Varies. RM2000-5000++ is a good starting point

If you prefer to search for your own financial advisor, you totally can at SmartFinance.my, the platform to find and book financial planners. Financial Planning Association of Malaysia (FPAM) is behind SmartFinance.my, so its legit.

financial planners in malaysia

The cool thing is you can select financial planners based on location (if you want face-to-face consultation), language (English, Mandarin, Bahasa Malaysia, Cantonese, Hokkien, Tamil) and fees.

Even cooler is you can select your financial planner based on their specialisations, such as:

  • Emergency Savings
  • Estate Planning
  • Comprehensive Plan
  • Health Care Planning
  • Financial Security
  • Credit Protection
  • Child Planning
  • Retirement Planning
  • Succession Planning
  • Family Office
  • Child Tertiary Education Planning
  • General Accumulation
  • Wealth & Investment Portfolio Management
  • Islamic Financial Planning
  • Cash Flow Management
  • Wealth Protection
  • Estate (Will, Trust and Power of Attorney) Planning and Implementation

#4 – From RinggitPlus’s Financial Planning Service

Cost: From RM699 (minus RM50 if you use my code)

RinggitPlus’s financial planning service is one of the cheapest in the market – just RM699-RM1199. I got the 360 plan for my husband and 100% recommend it.

If you missed #FinPlan2u (1st option) and looking for an affordable option, this is the one. Use code ‘Suraya50’ to get additional RM50 off.

What to ask your financial planner

Here is a non-exhaustive list of questions to ask your financial planner:

  • Am I overpaying for house loan/car loan/insurance
  • How to lower my monthly commitments
  • Is there a better debt repayment strategy I can use
  • Is my investments and asset allocation good enough
  • Are there better insurance out there more suitable for me and is it enough to protect myself and loved ones
  • What estate planning tools do I need and how do I go about it
  • Can I afford to retire with my current contribution

And more. If you have exhausted online resources and still can’t find answers, then it’s time for you to hire a financial planner for professional advice.

My unsolicited advice – Even if you think you’re good at this money thing, you could also hire them to confirm that yes, you’re doing the right thing. There’s peace of mind in knowing you’re on the right track.

Where to find retirement planner in Malaysia

You can find a retirement planner in all of the options above. Just let your financial planner know about your retirement goals and they’ll chart your current progress and suggest an optimised and more efficient method to get there.

Where to find Islamic Financial Planner in Malaysia

You can find Islamic Financial Planner in all the options above. If they have IFP in their name, that means they are Islamic Financial Planner.

However, you should also know that financial planner and Islamic financial planner is like, 90% similar. Chances are your financial planner will be able to advice you on Islamic financial planning too, or know where to find the information you need.

Protip for Muslims – Do ask your financial planners about Hibah, Wasiat, Takaful and other Syariah-compliant financial products and services. The Hibah Takaful instrument, for example, can help you leave an inheritance to non-Muslim loved ones, and to female family members who may be financially abandoned by male relatives after your passing.

I said what I said.

Where do you get your financial advice from?

There’s nothing wrong with doing DIY research and getting financial advice from friends, family and companies. But you must know MOST advice out there is biased:

  • Someone who made money from property will tell you property investment is a good idea
  • The dude who made money from the stock market will tell you investing in stocks is awesome
  • That person who made money from cryptocurrencies/digital assets will say it’s the best
  • A wealth planner, also a unit trust agent (representing one company) will tell you unit trusts are the best investments
  • A life advisor, also an insurance/takaful agent (representing one company) will only recommend products from their company
  • Not to mention network marketers (MLM and Ponzi), scammers, high-risk-high-reward opportunists and self-proclaimed financial gurus who have totally bastardised the phrases ‘financial freedom’ and ‘financial independence’ until they now become red-flag phrases instead

Financial planners, on the other hand, are the best possible professional option. They are bound by Code of Ethics where they first and foremost serve you, the client, and not their financial interest (ie commissions). Not everyone can use the CFP title too – one needs to complete the Certified Financial Planning course to call themselves a financial planner in Malaysia.

Any of you have hired a financial planner in Malaysia before? Why did you select them? How was your experience like? Share with us in the comments section 🙂


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10 Comments

  1. Being a licensed financial planner, the moment I try to explain to people, even some of my friends, they to ask me if I am trying to get them to buy insurance or mutual funds.

    There are so much of misinformation and probably that is why some RM 4 billion have lost to scammer

    and yes, the scammers have bastardised the term financial freedom,…

  2. Hey Suraya, wanted to thank you for introducing these 3 financial advice tips! Really useful. I had an online session (via FinPlan4U) with one CFP from Kuching, cool guy. The Smart Finance is a useful website to keep track of my monthly income and expenses, financial goals and search for financial planners plus educate myself on estate planning! Wanted to express my appreciation for sharing such helpful sites 🙂 have a good wedding BTW (this year?) =)

    1. Glad you have a fruitful session, Danial. Thanks for taking the time to leave a nice comment here, appreciate it 🙂

      Thanks for the well-wishes too!

      (as for date, hahahahah let’s see, I can plan but covid can throw everything out of whack hahah)

  3. Hi Suraya, I follow you on Twitter, and recall that you gifted a FP advisor for your husband?
    Just wondering how it was and whether it worked in soothing ‘money anxiety’?

    Am considering getting one but am not that rich in assets yet…so would be great to read his review on in, what you get / don’t get, where is was helpful…

    1. Hi Robin,

      Briefly, yes it does help a lot to soothe his money anxiety. Despite my assurance, he wasn’t sure if he was doing it right and simply needed a professional to confirm + add on other areas to optimise

      Thanks for the idea 🙂 perhaps I can interview him hmm..

  4. Hi Suraya, nice write up.

    I love your sharing about the job scope of Licensed Financial Planner. From my personal experience, younger generations wanted to have a mentor in their financial planning. Especially the choices are too many, ranging from robo-advisor for example Wahed, Stashaway, Luno to the e-wallet services offering financing etc. The mentor a.k.a the unbiased Licensed Financial Planner is the one who are able to guide where are you right now, where you should go and when you can go.

    Notice your sentence above:

    P/s – if you’re a (licensed) financial planner/content creator hybrid yourself, please comment and I’ll add you to the list.

    Appreciate so much if you can add me too.

    Love,
    Saidah Asilah Abdul Shukor (Twitter/FB)

  5. Hi Suraya,

    This is definitely helpful for young working adults like me who doesnt really have time to do the comparison lists of the best FP in the country.
    I’m considering to use Ringgit Plus financial planner. Since u’ve been using their service, can u give some review of their services? Do u think the 6 months progress monitoring is necessary or it can just be DIY?

    Appreciate your opinion/thought on this.

    Thanks!

    1. Hi Nad,

      I got RinggitPlus’s 360 plan (the one with 6 months progress monitoring) for my partner and asked him your question, whether he thinks its necessary

      He said, ‘I think yes, for me at least. It’s good to have someone and a dateline to implement the changes, and to see if I’m doing the recommendations correctly’

      Take that info however you wish. Additionally, I may add here that its not uncommon for people to put their financial planner on retainer, and have regular monitoring for years after the initial assessment.

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