Government has a will for all of us

<Estate Planning>

Merry Christmas & Happy New Year 2013

Malaysia Private Retirement Scheme

Frequently Asked Question on PRS :

http://www.sc.com.my/main.asp?pageid=1156&menuid=1038&newsid=&linkid=&type=

Private Retirement Scheme,  manage by private sector , not government.

As announced in Budget 2012:

• personal tax relief up to RM3000 per annum will be given for an individual's contribution to the PRS; and
• employers will also be given tax deduction on contributions to PRS made on behalf of their employees of up to 19% of the employees' remuneration.

One of the world leader in private pension scheme- Manulife Asset Management 

2012 National Convention

Happy Diwali 2012

SWOT Analysis For Independence Financial Adviser Industry

On 13 Oct 2012, Avillion Port Dickson.  
Practice Manager Meeting .
Facilitator :Mr.Mark Toh- Head Strategic Agency & Private Retirement Scheme, AIA Berhad

Mark Toh with practice manager of Standard Financial Planner S/B.

SWOT analysis (alternately SWOT Matrix) is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a business venture.
It involves specifying the objective of the business venture and identifying the internal and external factors that are favorable and unfavorable to achieve that objective.

Reference: http://en.wikipedia.org/wiki/SWOT_analysis

STRENGTH

• Provide choices to customers and independent advice.
• New business mode - transformation from tied agency business.
• Wide acceptability.
• Integration one stop center services.
• Team work
• Need base process / advise driven sales
• Duty of care
• Client ownership

OPPORTUNITIES

• Consolidation of client portfolio
• Many unhappy clients in the market
• Large pool of people to recruit for practice team, eg :70K tied life agents, 40K unit tust agents, 5k relationship manager in banking industry
• Timely- right time, right people , right business environment , unlimited income potential.

WEAKNESSES

• Branding
• Financial resources / capital constraint
• NATO ( know too much, think too much, no action)
• Complacency
• Flaunt business model
• Lack discipline & activities
• Identity crisis

THREATS 

• Institution competition
• External/offshore investment institution competition, eg : in ASEAN Financial Forum , may allow off shore brokers coming in Malaysia to compete.
• Survival 
• Stricter compliance requirement from regulator (in fact turn to opportunity to win clients services with quality advice and solution provided )  
• Increase cost of operating business with types of licenses / continuous education hours to maintain yearly.
•  FA messes with own mind.
• Products provider inpatient and might stop the supports should FA progress in Malaysia too slow in development .

Selamat Hari Raya Aidilfitri