Hi, I'm Wei Chong
Between inheriting our parents’ money beliefs, the lack of financial education growing up, and many a times attempting to dissect online information alone - for many of us, learning about managing money and growing wealth has never been an easy, clear-cut enough process.
As a CERTIFIED FINANCIAL PLANNER® professional, I will help you build a financial plan that helps you live your best life today, without neglecting to plan responsibly for tomorrow.
What's a CERTIFIED FINANCIAL PLANNER® professional?
Warning - giving you a crash course on how to become a licensed financial planning professional here…
It basically refers to a person who has completed a set of globally recognised Certified Financial Planner certification requirements, the highest standard in personal financial planning worldwide.
Okay global, what about in Malaysia?
In our local context, the rigorous exams for this certification are administered by the Financial Planning Association of Malaysia (FPAM).
Having completed the exams and acquired the cert does NOT mean one can practise as your financial planner just yet. In fact, it would have been illegal for me to start constructing a financial plan for somebody and charging a fee then.
In order to be qualified to give financial advice to the public, a successful CERTIFIED FINANCIAL PLANNER® certificant has to also get licensed
- by Bank Negara Malaysia as a Financial Adviser’s Representative (FAR)
- And by Securities Commission (SC) as a Capital Markets and Services Representative License (CMSRL) holder.
You need both in order to function fully, imo.
Whew, so what exactly are you
I am a fully licensed CERTIFIED FINANCIAL PLANNER®, or in its short form, a CFP CERT TM, with 10 years of experience in the financial services industry.
In addition to the two above, I get to also use this mark in Malaysia to help you tell myself apart from the many life/financial/wealth planners/advisors/consultants around.
The CFP CERT TM mark helps you identify the real financial/wealth planners around the world.
As mentioned earlier about being a CMSRL holder recognised by SC, I am hence qualified to use the designation, Licensed Financial Planner (LFP), as well.
In Malaysia, a practising Licensed Financial Planner needs
It means that when I work on constructing your financial plan, I have the freedom to consider any option or tool on the market for you.
Why is that so important to a consumer?
There are thousands of financial products available - anything that helps you enhance your money's worth in some way.
From stocks, unit trusts, cryptocurrency, REITs, ETFs, P2P lending, to insurances, to wills and trusts. The list goes on and on...
What's right for you may not be right for the next person at all.
As a Licensed Financial Planner, I consider all the options for you, based on your preference, appetite, lifestyle, personality, your unique life goals and family goals.
Your financial plan is extremely customised, unique and will only work for YOU.
The other important benefit of working with an LFP is my detachment from all the companies you would normally buy a financial product from. For example, I am
In other words, a Licensed Financial Planner's financial advice is unbiased.
And truthfully, that's the only way you can make informed decisions. You will never waste money on what you don't need again.
A Licensed Financial Planner acts in a client's best interests.
It may be hard to believe, but more often than not I am asking my clients to stop considering more financial products and actually downsize what they have.
What are you like in real life?
If you expect to meet a pushy, judgey, overly gung-ho character, I’m at the far end of the opposite of that.
While some people think of me as a slightly quiet person, the deal is I’d rather be the listener in most settings. One would argue my inward qualities do not make a good financial planner, a job where you ultimately have to sell yourself and services, but I believe they just might be the ones that make a better, listening adviser.
Having said that, I aspire to become a better public speaker! I think there is a lot to learn in honing what you have to say, and present it to a group in the most efficient, memorable manner.
What is it like working with you?
As a financial planner my style is engaging and educational.
I will ask you a lot of questions pertaining to your money and lifestyle, but I will not pass judgement on what you may see as your financial mistakes in the past.
And it will be a lot of fun!
Why build SimplyBetterFinances?
This website is an extension of my effort to serve and educate my generation (that's YOU in your 20's, 30's or 40's!)
On here I offer free, accessible information that helps you manage money and grow your wealth on your own. Because as much as I’d hope it is, hiring a financial planner is not for every single person in their current stage, even though everyone can benefit from talking to a financial planner.
But as and when you’re ready to hire a Licensed Financial Planner for independent advice on a single financial decision, or to completely overhaul your financial life, and you like what you have seen from me by then, you will know where to find me.
Before you leave…
Do you want to improve your finances?