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
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
