The costs involved to be a licensed financial planner/advisor includes:
One-Time Costs:-
CFP Qualification Fees = RM970 – RM2,100 per module
RFP Qualification Fees = RM1,000 – RM1,800 per module
Annual Costs:-
CFP membership fee = RM410
RFP membership fee = RM200
CMSRL license registration/renewal fee = RM250
FAR license registration/renewal fee = Nil
UTC license registration/renewal fee = RM73
UTC license renewal fee = RM53
All the costs as mentioned above are paid to the qualification providers and regulators. Some of the FP/FA firms may charge joining fee or miscellaneous charges, while some are not. You are encouraged to check with the FP/FA firms before making the decision of joining.
*The fees mentioned above are accurate as at the time of publishing this.