KUALA LUMPUR, March 15 (Bernama) -- Malaysian Financial Planning Council (MFPC) and Great Eastern Life Assurance (Malaysia) Berhad (GELM), have signed a collaboration agreement that will further support the knowledge of GELM agents in advocating insurance planning amongst consumers in Malaysia.
The Council hopes this joint effort will expand and strengthen the Life Planning Advisor (LPA) programme at GELM, in concrete terms, with a firm commitment to enhance the knowledge of their life planners. The participants are expected to be able to compute a full financial insurance need analysis and present a more in-depth advice to enable a client’s personal financial well-being based on the client’s financial needs which follows from this collaboration agreement. As consumer needs have significantly been altered in the last few years, it will be a positive move for an agent to undertake a certification offered by GELM. The Council also commends in advance GELM life planning advisors who will step forward to complete this programme and for their enthusiasm and commitment to professionalise their practice; and at the same time putting themselves in an upper-hand position to serve their clients better.
The major leap of the collaboration agreement is to promote mutually beneficial cooperation between the MFPC and GELM in the areas of insurance knowledge through the Registered Financial Planner (RFP) Module 2: Risk Management & Insurance Planning and RFP Module 5: Estate Planning and the participants will be recognized as associated members by attending the said programme. At the same time, the Council sees that it will encourage the nurturing of GELM’s talents to be able to earn further respect and trustworthiness from customers and distinguish themselves from competitors. This agreement also exhibits a close linkage between the life insurance industry and academia which is critical to the development of society in general, and will particularly contribute to efforts to further enhance peoples’ financial well-being. Harnessing the life planning advisors’ capabilities to apply and help clients out there is the fundamental reason why this programme is important. The life insurance industry is no different from many other industries in being constantly in a state of change, and being impacted by the continuous flow of new and innovative protection solutions.
Being an independent body, MFPC has worked towards developing the financial planning profession through its professional education programmes and introducing several initiatives and projects to raise the financial literacy of Malaysians from all walks of life. The RFP and Shariah RFP designation is an approved designation by Bank Negara Malaysia as a professional qualification for the application of the Financial Adviser License and Financial Adviser Representative License, and by the Securities Commissions Malaysia for the application of the Capital Markets Services Representative’s License.
Source: Malaysian Financial Planning Council (MFPC)
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