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.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
