Advisory Skills in Financial Planning Practice by Gavin Teoh

RM260.00

Date	30 November 2024
Time	9.00am – 5.00pm
CE/CPE/CPD	10 FPAM CE Points / 10 SIDC CPE Points / 8 FiMM CPD Points
Facilitator	Gavin Teoh

SKU: N/A Category: Workshops

In the past, most of the financial planners needed one skill to be “successful”, which is the ability to sell, and get clients and will be solely compensated by commissions, if the planner unable to keep finding new prospective clients to sell to soonest or later the income will quickly go to zero. However, as the need by the consumer has shifted, the key abilities are technical competency to give the right advice, and empathy skills to form and deepen the client relationship and the sales and business development will then comes later.

Learning Outcome

By the end of the course, participants will be able to:

Discover the differences and advantages of the needs-based approach (advisory practice) against the traditional product peddling approach.
Discover the required foundations and mindset to conduct needs-based practice in the delivery of financial planning services.
Recognize common mistakes and dilemmas in conducting advisory practice.
Apply BIDDIT (Background-Identifying-Development Probes, Disclosure and Instruction Taking) method to conduct effective needs-based fact-finding.
Apply robust approach method, the BID (Background-Identifying-Development) Probes, for investment, insurance, and insurance planning services.
Enhance presentation of fees disclosure and scope of services.
Apply professional instructions taking method to gather right information for preparing segmented financial plan and solutions.
Enhance quality of financial advice’s presentation with use of professionally drafted segmented plan.

Learning Outline

li>Understand the power of positive thinking and mindset change.

8.30 – 9.00 am	Registration / Pre-Assessment
9.00 – 9.30 am	Objectives Participant’s expectations. Sharing of transformation from product peddling to financial advisory practice (needs-based approach). Some common dilemmas.
9.30 – 10.00 am	What is Financial Advisory? The Evolving Financial Services Industry and its demand. Four qualities of financial advisory skills. Explore the advantages and differences in needs-based approach (advisory practice) as compared to product peddling practice. Understand the difference between an expert consultant (Sales agent) and a process consultant (Financial adviser).
10.00 – 10.30 am	Setting Foundations and the Right Mindset for Financial Advisory Practice Rule 1: Trusted financial adviser/planner. Rule 2: Managing client’s expectations: Financial doctor Catalyst Wealth guardian
10.30 – 10.45 am	TEA BREAK
10.45 – 11.45 am	Advisory Skills Revisit the 6 steps of the financial planning process. The art of fact-finding- BIDDIT: Discover need-based approach method- BID Probes: Background Identifying Developing Two systems’ games.
10.45 – 12.30 pm	Project 1: Advisory Skills in Insurance Planning Develop effective interview questions of BID Probes for insurance planning practice. Eliminate divergence from System 1. Role play/ exercise for Insurance Planning. Application of BIDDIT method.
12.30 – 2.00 pm	LUNCH BREAK
2.00 – 2.45 pm	Project 2: Advisory Skills in Investment Planning Develop effective interview questions of BID Probes for investment planning practice. Eliminate divergence from System 2. Role play/ exercise for Investment Planning. Application of BIDDIT method.
2.45 – 3.30 pm	Project 3: Advisory Skills in Insurance Planning Develop effective interview questions of BID Probes for investment planning practice. Role play/ exercise for Investment Planning. Application of BIDDIT method.
3.30 – 3.45 pm	TEA BREAK
3.45 – 4.45 pm	Professional Conduct in Financial Advisory Practice Explore effective disclosure method and its document. Discover the use of Letter of Engagement. Explore the professional technique of instructions taking for: Investment Planning Insurance Planning Estate Planning Learn practical method of instructions taking through exercises. Documenting Your Fact-Finding Explore professional presentation of document – Our Advice and Reason Why (OARW)
4.45 – 5.00 pm	Q&A Session Questions and Answers session for final clarifications

Facilitator

Gavin Teoh,

Gavin is a practice director of UOB Kay Hian Wealth Advisors Sdn Bhd. He has more 25 years of experience in financial planning practice with embarking into this industry at age 25 through Financial Planning Programme (FPP) of AIA Co. Ltd with training partner Arthur Anderson. He then started his fee-based practice in 2006, through CIMB Wealth Advisors-Financial Care Centre (FCC).

He became the first Malaysian financial planner to win the international financial planning award, PlanPlus Global Financial Planning Awards – Asia Region for 2014. He then sat on the adjudication panel of the Malaysian Financial Planner of The Year Award (MFPYA) and PlanPlus Global Financial Planning 2016- 2019.

LICENSES

He is a Licensed Financial Planner with Securities Commission and Financial Adviser Representative with Bank Negara Malaysia. He is also registered with the Federation of Investment Managers Malaysia (FIMM) as a Corporate Unit Trust Adviser (CUTA) Representative and Corporate Private Retirement Scheme Adviser Representative. He extends his scope of investment advisory services with Module 7 of the SC Licensing Examinations (SCLE) and Investor Protection Professional Certification (IPPC) issued by Asian Institute of Chartered Bankers (AICB)- Financial Markets Association Malaysia (FMAM).

QUALIFICATIONS

He became a Certified Financial Planner (CFP) in October 2003 and an Islamic Financial Planner (IFP) in January 2010. Gavin graduated with a Bachelor of Science degree with Honours in Physics from Universiti Kebangsaan Malaysia (UKM), and a Master of Science (Economics) from Universiti Putra Malaysia (UPM) for economic research, “Roles of Human Development and Epidemiological Change in The Malaysian Health System.”

Terms & Conditions

Registration is on a first-come-first-served basis, only 30 seats are available.
Participants need to sit in for the workshop throughout the day to receive the certificate and to fulfill the endorsement of points.
Confirmation is subject to receipt of payment before the workshop.
FPAM reserves the right to amend the program, speaker, date, venue, etc, without prior notice.

Frequently Asked Questions

1. How long will each physical program take?

Each physical program is the equivalent of a day’s CE Workshop training for approximately 8 hours with the morning & afternoon coffee break and lunch in between. The duration of the program excluding the break is 6 hours.

2. Can I attend only half the sessions of the training?

You will need to sit in for the session throughout the day unless you have a valid reason or a copy of proof.

3. Mode of payment?

We accept payment by credit / debit card (VISA / MasterCard / AMERICAN EXPRESS / Discover), by FPX (Affin Bank, Alliance Bank, AmBank, Bank Islam, Bank Muamalat, Bank Rakyat, BSN, CIMB Clicks, Hong Leong Bank, HSBC Bank, KFH, Maybank2E, Maybank2U, OCBC Bank, Public Bank, RHB Bank, Standard Chartered, UOB Bank).

4. How secure is shopping? Is my data protected?

Your data will be handled confidentially and encrypted with SSL (Secure-Socket-Layer) secure server software. The encrypted information of your order, your name, address, credit card, and bank details cannot be retrieved by any third party. Credit card payments will also be verified through the 3D secure procedure.

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Kindly drop a message below with the problem statement, and we will get back to you as soon as possible.