PIS’ Malaysian expansion continues
Professional Investment Services’(PIS) Malaysian subsidiary has become the first financial planning group in Malaysia to hold both a financial advisers (FA) licence and Corporate Unit Trust Agent (CUTA) licence, PIS announced yesterday.
The CUTA licence, which has just been granted, allows PIS subsidiary Standard Financial Planner (SFP) to deal with all unit trust companies in Malaysia.
SFP was granted its FA licence for insurance from Bank Negara in August last year.
PIS chief executive officer Robbie Bennetts said SFP staff had worked hard to get the licences granted.
“This is great news for SFP and certainly puts them ahead of the opposition in Malaysia,” he said.
SFP chief executive Alfred Sek said having the complete set of licences meant SFP advisers would be able to plan across the full financial spectrum.
SFP is 30 per cent owned by PIS.
AUTHOR
Recommended for you
Financial services lawyers believe the government may have good intentions, but the proposed legislation leaves superannuation trustees targeting an unachievable “standard of perfection” when it comes to advice deductions.
Advisers could find themselves unable to receive the fair market price of their advice as the Delivering Better Financial Outcomes legislation states superannuation trustees can reject deductions that are not charged on a cost basis.
Two advice professionals have shared five key takeaways as to how advisers can strengthen their communication with clients, especially at review time, in order to build deeper relationships.
The Financial Services Council has launched the Digital Advice Expert Group to support policy development around digital advice adoption and ensure greater accessibility for Australians.
