For enquiries and registration, please contact:- 03 - 2694 5899 ( Ms Diana and Mr Lim)
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Dear Students,
RFP M7 PROJECT PAPER : RESUBMISSION FEE
Pleased be informed that Examination Board (EB) has reviewed the examination methodology and its fee implications. After several meetings with careful discussion and deliberation, the Board agreed to impose Resubmission Feeon both RFP and Shariah RFP Module 7 Project Paper.
Please be informed that M7 Project Paper Resubmission Fee shall be RM200 per project paper effective 1 Jan 2011.
Although there will not be limitation on number of submission that students can make within a year to pass the M7 Project Paper; with this enforcement of resubmission fee, we would like to take this opportunity to encourage all M7 students to prepare your M7 Project Paper (Construct a comprehensive financial plan) with great details and to include logical judgments and assumptions at the first submission.
For further information, please contact MFPC Secretariat at 03 – 2694 5899.
Thank you.
Yours sincerely,
Dr. Chai Kon Lim
Chairman for MFPC Examination Board
Dated: 12 August 2010
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Dear Education Providers,
OFFERING OF CERTIFICATE OF PROFICIENCY IN FINANCIAL PLANNING (CPFP) PROGRAMME
Warm greeting from Malaysian Financial Planning Council (MFPC)!
We refer to the above. MFPC is pleased to offer the Certificate of Proficiency in Financial Planning (CPFP) programme. This certificate programme will provide a practical knowledge and analytical skills in financial planning for financial planning practitioners. This certificate programme will also equip programme participants with the practical skills to construct a comprehensive financial plan.
Participants who completed the CPFP programme and passed all the assessment will be given a Certificate of Proficiency in Financial Planning. RFP students who completed any 4 RFP modules and enroll for CPFP programme are also entitled to sit for the RFP Module 7 Examination, upon passing all the 7 RFP modules, he or she will be confer the designation of Registered Financial Planner (RFP).
Below is the detail information about the CPFP programme:-
Programme duration : 6 full days (9am to 5pm) class
Assessment method : 3 tests and a case study project paper
Pre-requirement : Affiliate RFP or equivalent for CPFP programme
Important Notice: For candidate who wish to register for RFP M7 examination, he/she must passed at least 4 RFP modules prior to the CPFP class.
Medium of instruction : English
Programme fee : RM1100 for CPFP programme only : RM1600 for CPFP programme and RFP Module 7 Examination
The classes of the first intake of CPFP are scheduled on 17 April, 18 April, 24 April, 25 April, 8 May and 9 May 2010. The RFP Module 7 Examination is scheduled on 20 May 2010. Should you require further information, please do contact MFPC secretariat at 03-2694 5899. Thank You
Yours sincerely, Malaysian Financial Planning Council
Amendments on MFPC scholarship for Shariah Registered Financial Planner (Shariah RFP) Programme
We refer to the above, MFPC is pleased to inform that the Shariah RFP Development Committee meeting held on 24 March 2010 proposed the following amendments on the Terms and Conditions for the application for MFPC scholarship for Shariah RFP; and the National Council Meeting of MFPC held on 8 April 2010 had deliberated and endorsed the below changes accordingly to ensure the scholarship is offered to deserving students; and it serves the purpose to propagate Shariah financial planning to the nation.
Scholarship Cycle 1 Scholarship worth of RM300 will be awarded to applicant who has passed the Shariah RFP Module1. Subsequently, scholarship worth of RM600 will be awarded to the same applicant who has enrolled and pass Shariah RFP Module 6, or Shariah RFP Module 3, or Shariah RFP 4, or Shariah RFP Module 5.
Scholarship Cycle 2 Scholarship worth of RM300 will be awarded to applicant who has completed cycle 1 and proceeds to enrol and pass Shariah RFP Shariah RFP Module 2. Subsequently, the same applicant will be awarded with another RM600 upon passing any other one remaining Shariah RFP module.
The maximum amount of Scholarship per applicant is RM1,800 for completing 4 Shariah RFP modules (2 Cycles).
Others terms and conditions as well as the application procedures of MFPC scholarship for Shariah RFP programme remain unchanged. MFPC reserves the right to change the term and condition of the MFPC scholarship for Shariah RFP. Should you require further clarification, please do not hesitate to contact the MFPC secretariat at 03-2694 5899.
Thank You.
Yours Sincerely, Malaysian Financial Planning Council
Chung Kar Yin General Manager
Dated: 12 April 2010
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Dear Education Providers and All MFPC students
Pre-requirement to enroll for Registered Financial Planner (RFP) Module 7 Examination
Refer to the above. We are pleased to announce that the Certification and CPD Board (CCB) has adopted a more flexible approach to allow RFP students to enroll and sit for RFP Module 7 Examination upon completing RFP Module 1 and any other three (3) RFP Modules. Hence, the minimum requirement to registered for M7 examination is to passed at least 4 RFP modules. This is applicable to self-study and class students.
It is the CCB’s intention to allow RFP students to explore their potential to be a sound Financial Adviser at early stage that will encourage students to be practical orientated and to be familiar with the systematic steps in construction of a comprehensive financial plan.
Nonetheless, RFP students are still required to complete and pass all the seven (7) modules of RFP progarmme in order to be conferred with the professional designation of RFP.
The National Council of MFPC endorsed the above amendment on enrollment policy of RFP Module 7 examination in January 2010; hence, this new policy will be effective for May 2010 RFP examination and onwards.
Should you require further clarification, please do not hesitate to contact MFPC Secretariat at 03-26945899.
Thank You.
Yours sincerely, Malaysian Financial Planning Council
Chung Kar Yin General Manager
Dated 12 April 2010
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Dear Members,
MEMBERSHIP BENEFITS AND PRIVILEGES
Greetings from the MFPC!
First and foremost, we would like to take this opportunity to express our sincere appreciation for your continued support shown towards the MFPC since its inception in 2004.
We at the Membership Committee have always put our focus to review and enhance membership benefits for all the different categories of membership, including corporate memberships and individual memberships.
While we have recognized the Student Members’ hard work and commitment to pursue their profession education in completing the RFP and Shariah RFP Programme; Student Members can now apply to be conferred Affiliate RFP* designation upon passing RFP Module 1 and one other module of RFP Programme.
Effective Jan 2010, all members including Student Members are given 3 – 4 copies of the Financial 1st Magazine in a year with the purpose to promote information and knowledge sharing among the Members.
As a continuous campaigns, we have also organized financial planning seminars and setting up information counters via various platforms to promote financial planning profession nationwide. All the Members are invited to the seminars and MFPC activities.
At this juncture, we are extremely pleased to inform you that the National Council has recently approved a special 10% discount to all members who have made advanced payment on yearly subscription for 3 consecutive years effective 1 March 2010. This is yet another kind gesture to appreciate your commitment and effort to make advanced payment to the National Council. Please select Advanced Payment Option in the Membership Renewal Form.
Once again, we thank you for your continued support; for further assistance and clarification, please do not hesitate to contact the undersigned or Pn Fauziah at 03-2694 5899.
Thank you.
Yours sincerely, Malaysian Financial Planning Council
Michael Kok Fook On Vice President for Membership Committee
Dated : 1 March 2010
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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
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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.
