General requirements
- You must go to the FA/FP firm who holds a CMSRL license – Financial Planning
- You must be at least 21 years old.
- You must be fit and proper and satisfy yourself that none of the grounds specified under section 65(1) of the CMSA apply to you.
- You must provide all relevant information to your principal to enable it to undertake the necessary due diligence before supporting your application. This is to ensure that you have satisfied the minimum requirements for carrying on the regulated activity.
Minimum Qualification and Experience Requirement for CMSRL Applicants for financial planning Activities
Financial Planning Association of Malaysia (FPAM)
- The Certified Financial Planner (CFP) / Islamic Financial Planner (IFP) qualification and a member of FPAM; or
- Complete a minimum of 3 modules specifically Foundation in Financial Planning (Module 1), Investment Planning and Retirement Planning (Module 3) and attend the familiarisation programme on Financial Plan Construction and Professional Responsibilities (Module 4) and become an Associate Member of FPAM; or
Malaysian Financial Planning Council (MFPC)
- The Registered Financial Planner (RFP) / Shariah Registered Financial Planner (Shariah RFP) qualification and an ordinary member of MFPC; or
- Complete a minimum of 3 modules specifically Fundamentals of Financial Planning (Module 1), Investment Planning (Module 3) & Retirement Planning (Module 6), obtain a Certificate of Proficiency in Financial Planning and become an Affiliate Member of MFPC; or
Malaysian Association of Chartered Financial Consultant (MAChFC)
- The Chartered Financial Consultant (ChFC) qualification and a member of the Malaysian Association of Chartered Financial Consultant (MAChFC).