Background

As investors in Malaysia become more sophisticated, there is a growing need for objective financial planning advice. In the absence of government regulations on Financial Planners, the public is in dire need of a credential that represents high standards of competence and ethical practice.

The Financial Planning Association of Malaysia (FPAM) is a non-profit organisation with a mission to raise the standards of competency and ethical practice of qualified Financial Planners in Malaysia and to educate the public on the benefits of financial planning. It was formed in December 13, 1999 to promote the CFP certification process and the CFP designation as the highest level of competence in the financial planning profession in Malaysia. The Association is represented by a group of corporate and professional individuals representing the diverse financial services industry such as insurance, unit trusts, banking, legal services, stockbroking, accounting services and assets management.

The primary purpose of FPAM is to educate the Malaysian public in the process and benefits of financial planning and to raise the professionalism in the delivery of financial products through a more comprehensive and holistic approach. Towards this, FPAM endeavors to provide professional education programs for candidates aspiring to be CFP licensees, through qualified, Approved Education Providers.

OBJECTIVES

The objectives of the Association includes :

  •  to establish a professional self-regulatory organisation to benefit the public by fostering professional standards in financial planning
  • to introduce the concepts of financial planning to practitioners and other related professionals in the financial services industry
  • to develop practice standards for the profession in Malaysia
  • to establish open dialogues with financial services entities and encourage them to adopt ethics, education and practice standards for their representatives
  • to develop strategic partnerships with consumer groups to promote the importance of financial planning
  • to promote and assist academia in establishing a knowledge base for financial planning in Malaysia
  • to strengthen cooperation with the international Financial Planning Standards Board and other national affiliates to develop cooperative policies that promote the CFP certification as the globally recognized standard of excellence for financial planners

MISSION STATEMENT

 To educate the public in the process and benefits of financial planning and to raise the standards of competency and ethical practice of qualified financial planners in Malaysia.

Organisation

ORGANISATIONAL STRUCTURE 

The FPAM’s Board of Governors is made up of a President, Deputy President, two Vice Presidents, Honorary Secretary, Honorary Treasurer and up to 14 Board Members. The Board of Governors is supported by the Board of Membership Affairs (”BOMA”) and Board of Certification & Standards (”BOCS”).

A third of the Certified Members and Charter Member representatives who are members of the Board of Governors shall retire biennially by rotation pursuant to paragraph 8.5 of the Constitution.

The BOMA is supported by 3 Committees: Marketing & Public Relations Committee, Industry Services Committee and the Membership Development Committee.

The BOCS is supported by 3 Committees: Standards & Professional Review Committee, Disciplinary Committee and Education & Examination Committee.


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