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Starting Your Career as a Financial Planner

Interested to pursue a career in financial planning? Learn more on how you can equip yourself with the skills to become one

Financial planning is the process of defining goals, rules, processes, programmes, and budgets in relation to a client’s financial activities. When dealing with corporate entities, financial planning can help minimise risks that might impede a company’s expansion. This contributes to assuring stability and profitability.


Working as a financial planner offers the chance to interact directly with customers and companies while navigating through basic concepts of personal finance. Financial planners offer their clients advice on how to meet their financial goals. While some financial planners only offer full planning services, others provide both planning and transactional services.


Although some financial planners in Malaysia are employed on a salary, most of them are working as a business partner to a financial advisory firm. While financial planners in general share a similar title, the detailed scope of service structure and support may differ depending on where they work.


If you are looking at beginning a career as a financial planner, here are some things to take note of.

Financial Planning in a Nutshell


When a customer requests financial advice, the planner thoroughly investigates the client’s financial background. They look at how the client’s prior financial management affected their current circumstance. Financial planners also look into strategies to help clients reach their financial objectives, such as making wise investments in equities, real estate, or financial products like life insurance or retirement accounts. Being connected to current trends through research can help planners keep up with newly released financial products to recommend to clients.


Financial planners advise customers on how to manage their money since they have a thorough understanding of how to build and keep wealth. A component of industry knowledge is wealth management, where advisors are aware of the types of investments that can yield greater returns and their availability in the market. Aside from recommending financial products, they are also adept at selecting appropriate investments based on the resources of their clients and the money they hope to amass.

Basic Qualifications and More Qualifications


To start with, each candidate typically is required to have a bachelor’s degree in order to pursue the Certified Financial Planner (CFP Cert TM) designation. A bachelor’s degree specifically in accounting, business, law, or economics is required by some employers.

Graduates with a bachelor’s degree may look for entry-level positions as an associate financial planner. Some firms provide mentorship by arranging for newer planners to spend at least a year collaborating closely with more experienced financial advisors so you will learn on the job.


The next step is earning your CFP credentials. Each candidate must possess a bachelor’s degree, have a minimum of three years of relevant work experience, pass the CFP exam, and adhere to a professional code of ethics in order to be eligible for the CFP designation.


A master’s degree in finance, accounting, or business administration is not necessary but it can help financial planners better progress and grow their career, and also qualify a CFP candidate for examination challenge status.


A license is necessary to become a licensed financial planner. Different financial planners may need different licenses. Professionals who buy or sell stocks, bonds, or insurance policies as a financial adviser, may require different licenses.

Skills You Should Have to be a Financial Planner


A combination of mathematics, interpersonal skills, and empathy must be deployed in a fine balance as a financial planner.


Clients must be convinced that their financial planner is knowledgeable and sincerely looking out for their best interests. Demonstrate empathy and exercise your listening skills.


A drive towards continuous learning is part of the job as depth and breadth of financial knowledge ought to be at your fingertips. For example, you will need to be prepared for an array of possible financial issues, and factor them in as you develop a customized financial plan to suit each client.


Financial advisors should take into account a wide range of facts, including market conditions, governmental changes, and the client’s risk tolerance before recommending investment vehicles that would best suit each client.


Risk is an important topic to be focused on. Before giving advice to customers, financial planners must evaluate and manage risks. Risk assessment often takes place during the research phase, when advisors foresee potential obstacles that clients may face in their quest for financial success or balance. Risks include things like a volatile market, which can affect how investments perform, and a lack of job security, which can increase financial stress and perhaps reduce a client’s future income.


Financial planners have to have the ability to adapt to shifting conditions and come up with solutions thanks to analytical thinking. For instance, a client might state their financial objective but unexpected face a negative change of plans in terms of income. Planners diligently assess the client’s financial situation and offer adjusted recommendations that can result in a favourable outcome. As new products hit the market, planners need to use analytical thinking to determine which ones might benefit their clients the most.

Explore Your New Career with WVA


Wealth Vantage Advisory Sdn. Bhd. (WVA) is financial firm licensed by Securities Commission (eCMSL/A0349/2018), Bank Negara Malaysia (Financial Adviser), and FIMM (CUTA & CPRA). It was formed to be the firm of choice by clients and financial advisors in Malaysia, leading the change in the industry by focusing on the right way of doing things.


At WVA, we assist client to achieve their financial goals by providing holistic end-to-end financial services. Our full fledged operation support services is enhanced by the use of technology and process driven implementation. Our mission is to develop and nurture the right value system for our advisors and employees, and demonstrate that value system with our clients.


Many financial planner choose WVA as their firm of choice as planners can focus on holistic financial planning in a firm that provides a world-class support team, paraplanners and mentoring in a working culture aligned to their values.


Interested to explore a career as a financial advisor with us? Find out more at: https://www.wealthvantage.com.my/careers

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