I have realized that the longer I stay in financial industry, doing business is easier than ever. As usual, I am now opening up vacancies to recruit new comers to join me and prosper in this industry.

Because time limit is a factor, I can only personally train five people in a year. If you are interested to join me, please follow through this article. I will show you why financial planner is one of the best overall job.

A job that combines professionalism and entrepreneurship

Financial planning is a . It requires high level of social skills, and also technical knowledge. Don’t ever look down on this professional. This magnificent job is just as professional as a doctor, lawyer, or accountant.

When you engaged a professional service, it normally involves a professional fee. And some specialists charge for the performance of job, not on the result of their work. For example, a brain surgeon charges thousands ringgit for a procedure that doesn’t guarantee 100% success rate. The patient still need to pay whether the surgery is successful or not.

But as a financial planner, most of the time we give advice free of charge. We ask people to save, to invest, to protect and manage their wealth wisely. My clients become richer, not poorer. When my client is severely ill, I send money, a lot of money. We ought to be welcome everywhere.

The best part about this career is that you work as an entrepreneur, not an employee. You can do recruitment, build your sales force and prosper as a solid business with long term customer base. The more people you train to be successful, the more successful you are. That is the beauty of this professional!

Photo by pierofix

EPF recent changes create more business opportunity

EPF allows monthly withdrawal for home loan instalment

More people can afford to buy a house. With all those people flowing into the market, there are more need of mortgages and asset protection plans.

EPF allow withdrawal for critical illness policy

Critical illness insurance plans are very popular. With the insured rate merely 40% in Malaysia, many people want to have a critical illness policy but probably couldn’t afford it due to limited income and inflation. Now without forking out extra money, client can use their EPF money to buy this type of protection.

Withdrawal flexibility for savings more than RM1 million

Savings in excess of RM1 Million can be withdrawn in totality (all) or in any amount not less than RM100,000 once in every 3 months. This is a good news for high income employee who has a lot of money in EPF. Most of them still concern about retirement need.

With proper planning, we can convince clients to withdraw the extra fund to set up annuity plan. Annuity plans are designed for retirement needs. Client put in a lump sum into an annuity plan, and then receive monthly income from it to maintain their lifestyle.

Photo by aloshbennett

Maximum 3% service charge on unit trust investment using EPF money

The main reason stopping Malaysians to invest in unit trust is the relatively high cost of entry. EPF has set a limit of 3% instead of the previous 6.5% service fees charged by local unit trust companies. More people are willing to withdraw and take advantage of the investment expertise of the local fund houses.

Some unit trust agents still feel painful of the commission cut, but I see more opportunities. If you can help your client make money faster and easier, eventually you will get more business.

Younger age member can withdraw for unit trust investment

Previously, only members with RM55k in Account 1 are eligible to withdraw for unit trust investment. But now, the standard had been lowered. Younger age members no longer have to wait until their EPF Account 1 to exceed RM55k.

Lower service charges for unit trust investment

Many unit trust companies had announced that they will reduce the service charges of equity fund from 6.5% to 5.5%. I can foresee that the service charge will drop further in the future. Lower fees just make the product better and easier to sell.

Financial planning integrated in university courses

Universiti Kebangsaan Malaysia (UKM) have signed a memorandum of understanding with Financial Planning Association of Malaysia (FPAM) to incorporate financial planning modules in the degree courses. There will be more such collaborations in other universities and colleges.

This means more young graduates will be educated on financial matters. In the future, more and more people will be conscious and alerted about having proper financial plans. If you start now and become a one of the pioneer who successfully build a customer base, you will be able to reap the reward later.

Product selling is becoming a history. Now, planning comes first, and products come later. I will show you how to do business using the sophisticated process driven method. You will not have to sell products. Your prospects automatically buy financial products from you because you will gain trust easily via process driven method.


Personal finance author and trainer

    22 replies to "Why Financial Planner will be the Hottest Job of the decade"

    • Za

      Hi KCLau.

      Bumped into your website while searching info on insurance agent. Been thinking of a career change, and one of it is doing the insurance business, but i’m still contemplating as i don’t know whether i’m ready or fit for the business. Any advice to people who want to try out this business? Thanks.


      • KCLau

        There is a lot of advice…
        I think the best advice is “never give up”

    • Steve

      I admire your passion for the financial planning business and your effort to promote the industry.

      However, the financial planning industry is a regulated industry by SC and Bank Negara. One needs to be licensed by respective authorities before you can advise or practise as a financial planner or financial advisor. Otherwise, you run foul of the laws and risk a substantial fine and/or jail term!

      The statutory laws were enacted to regulate the industry and to protect the public. One needs to be licensed before calling himself or herself a financial planner or financial advisor! Period! Even obtaining the CFP, RFP or ChFP qualification does not allow one to practise as one.

      The next step is for one to untie himself or herself from tied agencies. Otherwise, how does one attempt to offer independent, unbiased advice or solutions to his/her clients?

      YES, I agree with you…..Financial Planning is one of the HOTTEST Jobs around…..anytime!

    • wlees

      hi, do you know about “DANATAMA MILLENIUM SDN BHD”?
      a FOREX consultancy company?
      recently they are opening a new branch in Centro klang which is the 3rd branch and recruiting a lot of people…
      i cant check that the legality of that company…
      i worry that people will be trapped!
      plz give a help!

      • KCLau


        sorry that I am not familiar with Danatama Millenium.

    • wlees

      thanks for the explaination.
      due to the economic crisis happening now, is now the suitable time to put a step into the insurance/investment s’ field…?
      is it posible to join in both type field which in same category field in the same time to increase the opportunity?
      i m standing on the border and so confusing… hope to get direction from the pro… thx…

      • KCLau

        Hi wlees,

        It is better to start with only one product. Master it before you move to the other.

    • wlees

      hi,quite admire ur talent…
      can i get some professional advices from you about the differences between an insurance agent and unit trust consultant and also which is having an optimal opportunity & income/benefit…?
      please guide me, hope to view my answers in my inbox soon and i wish to get more than what i expected…thanks…

      • KCLau

        Hi wlees,

        The main differences is the product they are selling.
        I had sold both kind of products. For career wise, I personally prefer life insurance.
        The relationship is long term and the servicing required is a lot less than unit trust.

    • Dom

      Financial planner… wow i love that terms. I aspire to be one. Now i’m trying to learn as much as possible. I’m happy and thankful someone like you is making this kind of site.

    • Michael Lim


      i enjoy reading your blog.

      are you busy lately? cos your post getting lesser for the past 3 months…

      take care!

      • KCLau

        HI Michael Lim,

        Thanks for visiting here. Yes, I have been busy and try to keep the blog updated at least once a week.

    • […] Why Financial Planner will be the Hottest Job in 2008 […]

    • beza

      why youn are interested in financial planning career?

      what are the skills you possess which make you a good fit for tis career field?

      what is you career plan?

    • […] presents Why Financial Planner will be the Hottest Job in 2008 posted at KCLau’s Money Tips, saying, “An article on why financial planning will be a […]

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      Carnival of Everything Finance: # 12 Edition

      Welcome to the February 1, 2008 edition of Carnival of Everything Finance.
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    • fathersez

      My daughter will be graduating this May, God Willing. She is looking at taking the Islamic CFP from the INCEIF.

      Perhaps you can do a post on the pros and cons of CFP, Islamic and non Islamic.


    • […] Why Financial Planner will be the Hottest Job in 2008 […]

    • […] Why Financial Planner will be the Hottest Job in 2008 @ KC Lau’s Money Tips Financial planning is a very professional job. It requires high level of social skills, and also technical knowledge. Don’t ever look down on this professional. This magnificent job is just as professional as a doctor, lawyer, or accountant. […]

    • […] presents Why Financial Planner will be the Hottest Job in 2008 posted at KCLau’s Money Tips, saying, “An article on why financial planning will be a […]

    • […] presents Why Financial Planner will be the Hottest Job in 2008 posted at KCLau’s Money Tips , saying, “An article on why financial planning will be a […]

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