How To Be A Consultant

REGISTRATION OF A CONSULTANT

“Consultant” means an individual registered with FIMM and authorised to market and distribute Schemes.

An individual who

  • is of a minimum age of 21;
  • meets the Fit and Proper criteria stipulated in the FIMM’s Consolidated Rules;
  • has passed SPM with not less than three (3) credits in any subject or its equivalent; or
  • has an accredited higher education certificate from a recognisable institution, i.e., Diploma, Bachelor Degree or Postgraduate; and
  • has passed Computerised Unit Trust Examination (CUTE) and/or Computerised Private Retirement Scheme Examination (CPRE), unless exempted.

may apply to be registered with the Federation to market and distribute unit trust and/or private retirement scheme of his registered Distributor.
Please refer to CONSULTANT APPLICATION KIT (UTS) or CONSULTANT APPLICATION KIT (PRS) for application submission requirements.

The following individuals may be exempted from FIMM Examinations:

  • Chief Executive of the relevant Member and/or Distributor;
  • Director of the relevant Member and/or Distributor who has a minimum of 10 years’ experience in unit trust, PRS or fund management industry;
  • Fund manager who holds a CMSRL to carry out the regulated activity of fund management as defined in the CMSA;
  • A former Consultant who
    • applies for registration within 3 years from the date of withdrawal of his registration; and
    • acquires 16 CPD points as set out in Chapter 7 of the FIMM’s Consolidated Rules in lieu of re-sitting and passing the CUTE/CPRE; or
  • An individual who fulfils any of the following qualifications:

    FPAM

    • A CFP or IFP and a member of FPAM; or
    • Completed a minimum of 2 CFP modules specifically Foundation in Financial Planning (Module 1) and Investment Planning and Retirement Planning (Module 3), and become an associate member of FPAM;
    • Completed a minimum of 2 IFP modules specifically in Shariah and Major Components of Islamic Financial Planning (Module 1) and Islamic Investment, Retirement, Zakat and Tax Planning (Module 3), and become an associate member of FPAM;

    MFPC

    • A RFP or Shariah RFP, and an ordinary member of MFPC;
    • Completed a minimum of 3 RFP modules specifically Fundamentals of Financial Planning (Module 1), Investment Planning (Module 3) and Retirement Planning (Module 6), obtain a Certificate of Proficiency in Financial Planning, and become an affiliate member of MFPC;
    • Completed a minimum of 3 Shariah RFP modules specifically Fundamentals of Shariah Financial Planning (Module 1), Shariah Investment Planning (Module 3) and Retirement Planning (Module 6), obtain a Certificate of Proficiency in Financial Planning, and become an affiliate member of MFPC; or

    MFPAA

    • A ChFC and a member of MFPAA; or
    • A ChFC (which syllabus includes PRS) and a member of MFPAA.

Fee

A non-refundable application fee must be paid by the Distributor upon the application submission to FIMM:

Consultant Registration Type Application Fee (RM)
FIMM Examination (CUTE/CPRE) 170
FIMM Examination Exemption Fee 70
FIMM Examination Result Appeal Fee 20

Note: Applicant must pay the relevant fee to their registered Distributor.

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