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CFP vs CFA: Is there more than one letter difference?:

CFP vs CFA: Is there more than one letter difference? By Puan Arbayah Ismail, C.A (M), CFP, IFP, IEP Moreclass (M) Sdn Bhd FINANCIAL MATHEMATHICS SEMINAR II UNIVERSITI SAINS ISLAM MALAYSIA 23 FEBRUARI 2011

SPEAKER’S PROFILE - Arbayah Ismail, C.A.(M), CFP, IFP:

SPEAKER’S PROFILE - Arbayah Ismail, C.A.(M), CFP, IFP Arbayah Ismail is the Managing Director of Moreclass (M) Sdn Bhd, a company established since 1991. She has been in financial planning industry for more than 10 years and involved directly with individual clients as well as corporate clients in relation to the financial planning issues. She encourages holistic financial planning approach for effective implementation of strategies in order to achieve the client’s financial objective at every stage of their life. She has managed more than RM50million portfolio for the clients in various aspects of financial planning including investment, protection & takaful and inheritance planning. Because of her passion for Islamic Financial Planning , she shared her knowledge and experiences with many organizations for the seminars and training program.  As the founder for Moreclass , she developed the company as financial services firm that provide Syariah compliance solutions for the clients which focus on their needs and objectives. Apart from financial planning, she has more than 20 years experiences in corporate management from her services with Telekom Malaysia where she embarked on a long and illustrious career ending in December 1999 when she left the company as Vice President (Financial Controller) to join Moreclass (M) Sdn Bhd. Her field of interest include Accounting, Funds Management, Financial Analysis, Corporate Planning, Financial and Business Corporate Advisory.

Career Path:

Career Path

Financial Professionals:

Financial Professionals Accountant (CPA, ACCA, etc) Tax/Estate Attorney Broker/Dealer CFP® Practitioner Chartered Financial Consultant Estate Planning Professional Financial Advisor Financial Risk Manager Etc…. Financial Professionals Chartered Financial Analyst®

Financial Professionals - defined:

Financial Professionals - defined ACCOUNTANT : In practice either in public or private. Involves accounting or auditing skills and performs services such as preparation of financial statements, corporate reporting, management accounting, auditing and taxation. ATTORNEY/TAX LAWYER : Involves in financial planning services which requires specific legal advice particularly in areas of estate planning & taxation. BROKER/DEALER : Licensed to buy and sell investment products. Dealer sell securities that they own, broker firms that sell and buy on behalf of investors. In Malaysia, this is regulated by Securities Commission.

Financial Professionals - defined:

Financial Professionals - defined CERTIFIED FINANCIAL PLANNER ® : Certified by CFP Board. Involves in financial planning services. Use of CFP designation. CHARTERED FINANCIAL ANALYST ® : Usually are securities analysts, money managers and investment advisers. Covers broad range of investment topics. Use of CFA designation. CHARTERED FINANCIAL CONSULTANT Use by financial professionals including accountants, attorneys, bankers and insurance agents and brokers. Use of ChFC designation.

Financial Professionals - defined:

Financial Professionals - defined ESTATE PLANNING PROFESSIONAL : Devise a plan for orderly handling for estate administration upon death. This can be a complex advisory services as it also involves preparing current financial statements and also financial projection’s of individual’s wealth. FINANCIAL ADVISOR : Those involve in providing financial advices, services and products, a broad spectrum of financial professionals. FINANCIAL RISK MANAGER : More focus on risk management and portfolio. Usually in insurance companies of special department of conglomerate that requires detail management of risks.

Understanding the “P” and the “A”:

Certified Financial Planner Chartered Financial Analyst The “A” (Analyst) analyses and advises on investments to various institutions , like banks, mutual funds, pension funds, insurance companies and security firms. The focus is on investments which includes stocks, bonds , derivative assets, market analysis and investment and portfolio management. The “P” (Planner) plans and assists individuals in meeting life goals through the proper management of finances. The focus is individual life goals which can include buying a home, saving for your child’s education, life/asset insurance , stock investing or retirement planning. Understanding the “P” and the “A”

How can I be certified as the P’s or the A’s:

Certified Financial Planner Chartered Financial Analyst The three general requirements to earn a CFA charter are: Undergraduate degree (in any subject) Pass three exams Three years related work experience in the financial area The requirements for the CFP are: Bachelor's degree in any major 6 required courses of study (unless exempted) and pass 10 hour exam Three years financial planning experience Requirements 3 levels (6 hours exam each) Pass rate of 50% Curriculum includes Ethical and Professional Standards Quantitative Methods Economics Financial Reporting and Analysis Corporate Finance Analysis of Investments Portfolio Management and Analysis One 10 hours exam (285 questions test includes 2 case studies ) Must complete the required courses Curriculum includes Financial planning: process and environment Fundamentals of insurance planning Taxation Planning for retirement needs Investments Fundamentals of estate planning Exams Disclaimer: This slide is purely for education purposes and not intended to be a promotional activity. Please visit their respective websites for further clarification. How can I be certified as the P’s or the A’s

Authority & Costs:

Authority & Costs Certified Financial Planner Chartered Financial Analyst CFA Malaysia The Global Association of Investment Professionals US Financial Planning Association of Malaysia Under the trademark of CFP United States Authority Program Enrolment $490 Examination Fees Min $630 each level Estimated costs $2,380 Tuition fees will be based on education providers 6 modules Membership fees RM150 Examination fees RM300 Estimated costs RM1,950 Tuition fees will be based on education providers ranging between RM1,000 – RM1,500 per module Fees

Education Providers:

Education Providers CFP education providers: Institute of Management Studies (IMS) IFPA Resources Sdn Bhd (IFPA) PNB Investment Institute (PNB) KDU Management Development Centre Sdn Bhd (KMDU) Institut Bank-Bank Malaysia CFA education providers: Malaysian Institute of Management Institut Bank-Bank Malaysia Institute of Management Studies (IMS)

Advancing your career:

Advancing your career Industry you can get involved as financial professionals Banking Insurance Investment Financial Planning Estate Planning Research & Education CFA CFA, CFP CFA, CFP CFP CFP CFP, CFA

Entrepreneur vs Employee:

Entrepreneur vs Employee MOVING FORWARD Self-employed Financial planning industry provides opportunity for self-employment when you are in partnership with services providers such as unit trust consultant, insurance/ takaful agents CFP holders CFA holders Employment More suitable to provide professional skills in organization. As this certification focus on analysis and investment portfolios

Career path as the “P”s or the “A”s:

Spread sheet, graphs and data mining Meet more people Certified Financial Planner Chartered Financial Analyst Fund Managers/ Investment Banking Institutional investors Broker-dealers Universities and the government Individual clients. Insurance agents Wealth Managers Banks Career path as the “P”s or the “A”s

Summary:

CFP stands for Certified Financial Planner, and CFA stands for Chartered Financial Analyst. The Certified Financial Planners mainly give advise to individuals on asset allocation . Chartered Financial Analysts give advise to various institutions on investment decision . A person gets a CFP title after he passes an examination conducted by the International Board of Standards and Practices For Certified Financial Planners. To get a CFA title, one would have to take three examinations. The Association for Investment Management and Research confers the title. CFP is considered to be a generalist , and the CFA is considered to be a specialist. While the Certified Financial Planners deal more with comprehensive financial planning , Chartered Financial Analysts deal more with investment portfolios . Summary

THANK YOU:

THANK YOU MORECLASS (M) SDN BHD NO 82A-84A, JALAN RUGBI 13/30 SEKSYEN 13 40000 SHAH ALAM, SELANGOR. www.moreclass.com.my www.facebook.com/moreclass

FINANCIAL PLANNING IN EVERY STAGE OF LIFE:

FINANCIAL PLANNING IN EVERY STAGE OF LIFE Mid 20s to Mid 30s The Foundation Years Mid 30s to Mid 40s The Acquisition Years Mid 40s to Mid 50s The Accumulation Years Mid 50s to Late Retirement The Reaping-the- Reward Years PHASE 1 PHASE 2 PHASE 3 PHASE 4 4 PHASES IN FINANCIAL PLANNING

STEPS IN FINANCIAL PLANNING:

STEPS IN FINANCIAL PLANNING