New Fee Structure for the RFP Programme
We are pleased to inform that the Certification & CPD Board has completed the text review and enhancement exercise for all the RFP Modules. The texts are up-dated with the latest regulatory and industry developments. More case studies and illustrations have been incorporated into the study materials to ensure that students are able to understand and to apply financial planning skills effectively.
In tandem with the continuous enhancement of the RFP programme materials, the Examination Board has also taken a proactive step to enrich and to enhance the RFP Examination Question Bank. New questions were set and old questions were reviewed and moderated. This is to ensure that RFP Examinations are being conducted in accordance to professional examination requirements.
At this juncture, we are also pleased to inform that the MFPC Advisory Board and Shariah Advisory Board chaired by Y.B. Dato’ Mustapa bin Mohamed, Minister of International Trade & Industry and Prof. Datuk Dr. Syed Othman Alhabshi respectively have also provided guidance and advice to the MFPC to chart strategic directions of growth for both RFP Progarmme and Shariah RFP Programme. Under their guidance, the RFP Programme and Shariah RFP Programme are now branded as practical and professional qualifications well accepted by the financial planning and related industries.
It is the National Council’s objective to ensure quality of the RFP programme is assured and maintained at professional level at all times. In 2009, a Joint Task Force has also been established to address issues on examinations, study materials, feedbacks from students and Education Providers. Some of the improvements include organizing block seminars that will benefit the students in study and to better prepare them for examinations. The National Council has endorsed for block seminars to be conducted continuously to assist students in passing their examinations.
Furthermore, in our effort to be in touch with and to provide a more effective service for our Members, we are pleased to inform that the MFPC Secretariat has started registering student members and RFP examinations since November 2009. All student registration for new and continuing students either for new or repeat modules is now centralized at the MFPC Secretariat office. Students are welcomed to visit the MFPC office; direct enquiries, information and up-dates on financial planning profession and industry can also be provided to the Members.
In addition to setting up of the new MFPC Secretariat office to provide more convenient services to the members; effective 2010, the student members are also given extra benefits, for example, students will be given financial 1st magazine and relevant exemption is granted for Shariah RFP Programme.
In order to sustain good quality and to ensure continuous enhancement is carried out in offering RFP Progarmme which is an approved professional qualification for the application of Financial Adviser (FA) License and Capital Markets Services License (CMSL); a fee evaluation exercise has been conducted carefully as cost recovery process; and it took into consideration measures from various aspects to ensure that this exercise will bring forth results that beneficial to all partiesconcerned including students, practitioner at large, relevant institutions, MFPC and the financial planning profession and industry.
As the results, the National Council is pleased to announce the revised RFP programme fee structure as below for your attention. The new fee structure will be effective for May 2010 Examinations. All registration for RFP courses and examinations for May 2010 Examinations will need to pay the new fees below as approved by the National Council.
New Fee Structure of the RFP Programme
RFP Modules
By Course & Examination (RM)
Self- Study & Examination (RM)
Module 1 Fundamentals of Financial Planning
900
600
Module 2 Risk Management & Insurance Planning
900
600
Module 3 Investment Planning
900
600
Module 4 Zakat & Tax Planning
1,000
600
Module 5 Estate Planning
1,000
600
Module 6 Retirement Planning
1,000
600
Module 7 Applications in Financial Planning
1,600
1,000
Total RFP Programme Fees
7,300
4,600
We appreciate you kind support and enthusiasm to pursue the RFP Programme; for further assistance and clarification, please do not hesitate to contact MFPC Secretariat at 03-2694 5899, fax to 03- 2694 6899 or email to mfpc@mfpc.org.my
Thank you.
Yours sincerely, Malaysian Financial Planning Council Chung Kar Yin General Manager Dated: 11 December 2009
CIRCULAR
Dear Student,
Fee Structure for the Shariah RFP Programme & Examination
Further to our circular dated 11 December 2009 regarding to the New Fee Structure for the RFP Programme & Examination.
We are hereby pleased to announce that the Fee Structure for Shariah RFP programme was also approved by National Council as below for your attention. The new fee structure will be effective for May 2010 Examinations. All registration for RFP courses and examinations for May 2010 Examinations will need to pay the fees below as approved by the National Council
Fee Structure of the Shariah RFP Programme
Shariah RFP Modules
By Course & Examination (RM)
Self- Study & Examination (RM)
Module 1: Fundamentals of Shariah Financial Planning
900
600
Module 2: Risk & Takaful Planning
900
600
Module 3: ShariahInvestment Planning
900
600
Module 4: Zakat & Tax Planning
1,000
600
Module 5: Shariah Estate Planning
1,000
600
Module 6: Shariah Retirement Planning
1,000
600
Module 7: Applications in Shariah Financial Planning
1,800
1,000
Total Shariah RFP Programme Fees
7,500
4,600
Should you need further assistance and clarification, please do not hesitate to contact MFPC Secretariat at03-2694 5899, fax to 03-2694 6899 or email to mfpc@mfpc.org.my
Thank You
Yours sincerely, Malaysian Financial Planning Council
Registered Financial Planner (RFP) The premier financial planning mark of excellence
Bank Negara Malaysia - Insurance Act (Amendment) 2005 RFP is approved qualification for the application of Financial Advisor (FA) License
Capital Markets and Services Act 2007 RFP is recognized as one of the qualifications for the application of Capital Markets Services (CMS) License
Continuing Professional Development (CPD) credits requirement for maintaining the RFP designation
RFP designees will have to earn 30 hours of CPD credits every year (subject to review by MFPC) before they can renew their RFP designation. The credits may be earned through studying, speaking or lecturing in CPD validated programmes or in other ways as determined by the Certification & CPD Board from time to time.
The CPD Guidelines serve as a guide on the type of programmes (inclusive training, lecturing, learning and writing) that the planners and advisers should pursue to improve their skills and knowledge in providing good service and advice to their customers.
The financial planning industry in Malaysia comprises a wide spectrum of financial professionals from the unit trust, insurance, accounting, banking, investments and securities industries.
Recent development evidences that the presence of some of these professionals in the financial planning industry constitutes a natural progression from their line of work. In the insurance industry particularly, the presence of financial planners has clearly progressed in keeping with the insurance product lines and the customers¡¯ needs.
Hence, whilst financial planning is a widely used term in the process of setting financial goals in areas like retirement planning, home ownership, insurance and wealth accumulation, it is also being applied in many industries such as life insurance, banking, unit trust and stockbroking.
