Fellow Chartered Financial Practitioner (FChFP) Certification
Section 1 — General information
1.1 Core subjects
The National Association of Malaysian Life Insurance and Family Takaful Advisors (NAMLIFA)
Fellow Chartered Financial Practitioner (FChFP) Certification consists of five (5) core subjects covering the insurance, wealth management and financial advisory sectors within the broader financial services industry:
• FChFP1: Introduction to Financial Planning
• FChFP2: Personal and Business Insurance Planning
• FChFP3: Investment and Retirement Planning
• FChFP4: Estate and Tax Planning
• FChFP5: Financial Planning in Practice (Capstone).
1.2 Delivery mode
This certification is delivered in-person through intensive workshops delivered by specialist faculty.
In addition to the in-person workshops, students will be able to access practical resources and subject assessments through KapLearn, an accessible, intuitive, and user-friendly learning hub.
Assessments in this certification include:
• multiple-choice examination
• practical case study-based assignment.
1.3 Prerequisites
Students enrolling in this certification must meet the following experience requirements:
• minimum two (2) years relevant industry experience in job roles within the insurance, financial planning, wealth management and/or private banking industries, and/or the broader financial services industry.
1.4 Assumed knowledge
It is expected that students who enrol in this certification will have a fundamental understanding of financial planning, insurance and wealth management concepts.
1.5 Recognised Professional Excellence
Asia Pacific Financial Services Association
Headquartered in Singapore, the FChFP Certification is awarded and internationally recognised by the Asia Pacific Financial Services Association (APFinSA). The International Standards and Certifications Board is a standing committee of APFinSA and governs the certifications and education pathways of the association.
Individuals who attain the FChFP Certification can display the FChFP mark of excellence to affirm to clients and peers their dedication to best practice standards. The FChFP also provides a gateway to an international career as it is recognised by all nine members of APFinSA including Australia, Hong Kong, India, Macau, Malaysia, the Philippines, Singapore, Taiwan and Thailand.
NAMLIFA is a founding country member of APFinSA and issues a certificate of completion confirming that candidates meet the knowledge and professional standards requirements of APFinSA. Since 1978, NAMLIFA has promoted excellence in the industry by advocating for higher ethical and professional standards so that more Malaysians seek out NAMLIFA members to build, grow and protect their wealth.
1.6 Technical resource requirements
Kaplan recommends the following software be installed to undertake online components (including assignment submission):
• Microsoft Windows Operating System (XP, Vista, Windows 7) or Mac OS X
• Microsoft Office 2003 or later
• a current antivirus and antispyware application that is updated regularly
• Internet Explorer 8.0 or later, Google Chrome 32.0.1700.107 m, Firefox 27, Opera 9, or Safari 5
• Adobe Reader 10.0 or later
• Adobe Flash Player 10.0 or later (free download)
• Sun Java 2 SDK (Java 1.3.1) or later for PC (free download)/Classic Java (MRJ 2.2.5) or later for Mac (free download).
Section 2 — Course details
2.1 Course overview
The Fellow Chartered Financial Practitioner (FChFP) Certification’s immersive learning curriculum provides an experience that balances technical financial advising skills and knowledge, and their practical application. Delivered by specialist faculty, you will benefit and learn from their real-world practical experience and knowledge in a collaborative learning environment.
Completion of the FChFP Certification will equip you with the latest in financial advice strategies and enhanced client engagement skills to immediately apply what you learn into professional practice. This will help your clients manage, protect and grow their wealth.
2.2 Course learning outcomes
On successful completion of the FChFP Certification, students should be able to:
1. Understand the characteristics and needs of individuals and businesses across wealth management, protection and distribution.
2. Establish and maintain client relationships as an ethical and trusted financial adviser.
3. Develop strategies for clients across wealth management, protection and distribution.
4. Prepare, present and implement financial planning recommendations.
2.3 Course duration
Certification duration is three (3) weeks and candidates must not exceed the certification progression timeframe of one (1) year. All subjects need to be completed in ascending order.
2.4 Pass requirements
To successfully complete this certification, students must achieve a pass mark of at least 50% for the exam
and assignment at the conclusion of FChFP5.
To successfully complete this course, students must pass both the exam and assignment. Upon successful completion of the certification requirements, students may apply to NAMLIFA to be awarded the FChFP Certification.
If a student does not achieve a pass mark after all available attempts, students may transfer to the next available intake on a case-by-case basis.
2.5 Subject learning outcomes
FChFP1: Introduction to Financial Planning
This subject will introduce students to the fundamental principles of financial advising in Malaysia. Client case studies and activities will provide opportunities to explore the three building blocks of advice and to analyse client cashflow and budgeting in the context of the financial advice process.
To establish successful foundations as a modern-day adviser, students will learn how to skilfully uncover clients’ goals and needs, applying industry standards, codes and ethical frameworks to build deep client relationships and support their growth as a trusted financial adviser.
On successful completion of this subject, students should be able to:
1. Apply financial planning fundamentals to client situations.
2. Determine a client’s current financial position and uncover needs and goals through questioning.
3. Establish plans to attract and retain new clients.
4. Uphold industry and ethical standards and apply sound judgment to financial planning practice.
FChFP2: Personal and Business Insurance Planning
In this subject, students will look at concepts of risk management, exploring insurance solutions and strategies to address individual, family and business wealth protection needs.
Client case studies for both individual and business clients will be used to explain how to conduct gap analysis, calculate insurance amounts, devise appropriate strategies, and select suitable insurance products to protect a client’s current and future financial position.
On successful completion of this subject, students should be able to:
1. Analyse client data to identify risk protection needs and goals.
2. Apply knowledge of the insurance market to determine appropriate strategies.
3. Demonstrate how best to use insurance products to support strategies meeting personal and business needs.
4. Develop personal insurance recommendations for clients based on their financial needs.
FChFP3: Investment and Retirement Planning
In this subject, students will explore the fundamental concepts of wealth creation including saving,
borrowing, and investing in the major asset classes. Client case studies will be used to explore different
wealth creation strategies for clients in different financial stages of life.
Strategies to provide for retirement will be explored and students will gain an understanding of how to
prepare recommendations for clients in a way that aligns with their risk profile, while meeting their goals
and objectives.
On successful completion of this subject, students should be able to:
1. Identify clients’ needs, goals, and attitudes to risk.
2. Apply knowledge of financial markets and asset classes to determine appropriate wealth creation
and retirement strategies.
3. Demonstrate how well-designed investment portfolios help clients achieve their financial goals.
4. Develop personal investment and retirement recommendations for clients based on their financial
needs and risk profiles.
FChFP4: Estate and Tax Planning
This subject will provide students with core knowledge of taxation and estate planning in Malaysia.
Taxation fundamentals for individuals and businesses will be discussed, as well as the taxation of other
entities. Through the use of case studies, students will analyse the client’s estate planning needs and the
challenges that may arise in different situations.
Throughout this subject, students will have the opportunity to examine Zakat and other relevant
considerations of Islam in the provision of taxation and estate planning advice.
On successful completion of this subject, students should be able to:
1. Analyse clients’ current personal and business taxation, succession, and estate planning requirements.
2. Accurately apply taxation principles to individual and business client scenarios
3. Demonstrate knowledge and understanding of how assets are treated upon death, incapacity,
divorce or insolvency.
4. Identify appropriate estate planning and business succession strategies.
FChFP5: Financial Planning in Practice (Capstone)
This subject will support students to understand how to develop the skills of a trusted adviser, from
building and maintaining sound client relationships, all the way through to the preparation of financial
advice. Attributes of successful advisers will be explored, including client communication and negotiation
strategies, driving professional success through referrals and retention, and providing ongoing service.
On successful completion of this subject, students should be able to:
1. Identify attributes of highly successful financial advisers and businesses.
2. Use a variety of communication skills to effectively engage with clients.
3. Demonstrate and apply client service expertise to attract and retain clients.
4. Apply knowledge of the financial planning process to develop effective and compliant financial advice.
2.6 Assessment schedule
One (1) Exam Multiple-choice questions (MCQ) Week 2 FChFP1–FChFP5 LO1–LO4
One (1) Assignment Case-study based short-answer questions, plus preparation of a financial plan. Week 3 FChFP1–FChFP5 LO1–LO4
2.7 Resubmission
Students will be given two (2) additional attempts to sit the full exam if they do not receive 50% in the first attempt. Students will have one (1) opportunity to resubmit their assignment if they did not receive the required 50% pass mark in their first submission. The resubmission must be completed within one (1) week of receiving feedback.
2.8 Study plan
The table below provides a guide for students to progress through this certification by setting out the tasks that students should complete each week.
FChFP1: Introduction to Financial Planning 1 Workshop day 1 7 hours
FChFP2: Personal and Business Insurance Planning 1 Workshop day 2 7 hours
FChFP3: Investment and Retirement Planning 1 Workshop day 3 7 hours
FChFP4: Estate and Tax Planning 1 Workshop day 4 7 hours
FChFP5: Financial Planning in Practice (Capstone) 1 Workshop day 5 7 hours
Exam 2 Supervised exam, in person 2 hours
Assignment (capstone) 3 Assignment due Friday 3 hours
Total mandatory volume of learning for certification 40 hours
2.9 Recommended training hours
The volume of learning allocated to this certification includes all teaching, learning and assessment activities that are required to be undertaken by the typical student to achieve the learning outcomes and technical skills and competencies.
Students may require additional personal study hours for each subject to review the proposed assumed knowledge or conduct additional research on key concepts.
Students are advised to complete the subjects progressively to acquire the assumed knowledge before advancing to the next subject.