Fed up with the Australian advice environment? How about Malaysia?

Royal-Commission/Paul-Tynan/

20 June 2019
| By Mike |
image
image
expand image

Australian financial planners struggling to come to terms with the post-Royal Commission environment and the Financial Adviser Standards and Ethics Authority have an option – they can move offshore.

Financial planning business broker, Paul Tynan, is pointing to opportunities in Malaysia and has highlighted a self-licensed, holistic financial planning business based in Kuala Lumpur which is looking to recruit Australian financial planners.

Tynan is up-front in acknowledging a commercial association with the Malaysian business but believes moving offshore may be an option for some Australian financial planners who are feeling overwhelmed by change and the tightening Australian regulatory environment.

He said that the Malaysian business had adopted many of Australia’s best practice planning techniques, such as the provision of Statements of Advice (SOAs) even though this was not required under Malaysian law.

“This opportunity would suit any Australian financial planner who is seeking a lifestyle change and doesn’t want to be bound by the over-regulation and education requirements in Australia,” Tynan said.

He said the Malaysian business would support interested Australian planners by providing them with a client base and back-office services.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 6 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 4 days ago

TOP PERFORMING FUNDS