Notice to FPAM Members

September 12, 2006 Admin

This is to inform members that MFPC, the body overseeing the RFP mark has unilaterally announced that they are willing to grant CFP members the RFP mark upon the payment of various application and membership fees.The CFP qualification is globally recognized as the premier financial planning qualification. FPAM is thus not surprised that other organizations, such as MFPC, readily recognize the CFP.

However, FPAM strongly feels that each organization that promotes its own mark should exhibit enough confidence in that mark by ensuring that its membership is built based on the mark it promotes.

FPAM has made representation to Bank Negara to recognize the CFP for the purpose of the issuance of the Financial Advisers’ license. We have not received any objections to this and look forward to a positive response from Bank Negara on this matter soon.

FPAM would also like to inform members that the Securities Commission and Bank Negara support the formation of an industry taskforce represented by all three existing financial planning associations to commence discussion on developing a common platform for addressing issues common to the industry. These include developing an agreed set of practice standards for practitioners and the means and measures for safeguarding consumers’ interests.