Financial Planning

Do you want to plan for your future but do not know how to do it? 

You have some extra money but not sure what to do with it? 

You want to invest but do not know which instrument is suitable? 

Let me help you! 

I am a licensed financial planner (license number: eCMSRL/C3167/2023 – you can check from Securities Commission website by clicking here). Currently, I am with VKA Wealth Planners (Link).

In financial planning, we want to make sure that you can achieve your financial goals. The prerequisite is that we know where you are now and where you want to go. Without a starting point and a destination, it is impossible to formulate a plan. I can help you to determine your current financial standing and guide you to set your personal financial objectives and goals. With this information, we will develop your financial plan together. 

What do we do in financial planning?

1. Personal finance review

We will review your cash flows, assets and liabilities, and net worth during this stage. We will also set your goals and objectives and determine your risk tolerance level at this stage. 

2. Investment planning

This is the backbone of financial planning. For most people, saving alone is not enough to hit our financial goals. To achieve our goals, we need to invest our money to let it grow. There are many investment instruments available and we will select suitable instruments based on your risk tolerance level. 

3. Retirement planning

At this stage, we will discuss your retirement age and desired lifestyle after retirement. With this information, we will develop a plan to attain your desired lifestyle post retirement and ensure that you will not outlive your retirement fund. 

4. Tax planning

Tax and death are two certain things in life. While we cannot avoid death (at least in the foreseeable future), we can lawfully reduce our income tax payable. By utilising the tax relief provided, we would be able to claim some money back from the tax authority. Pay what is required but not more.

5. Insurance planning 

Life is full of risk. Insurance serves as a risk transfer instrument to protect us from catastrophic losses. We will look at your current general insurance and health insurance plans to determine if you are sufficiently insured. We want to avoid both overinsurance and underinsurance. 

6. Estate planning

No matter how old you are, it is good to plan for your passing. At this stage, we will plan for your legacy. A simple will is better than no will at all. But if you do not want to burden your family, there are also other instruments and/or mechanisms that we can use.

7. Debt management, if applicable

If you have debts, we will review these debts and devise a plan to settle the outstanding amount. Some debts are inherently unhealthy, such as credit card debts. Some debts are not inherently bad, such as housing loans. It is important to prioritise the debt payments correctly so that your finances will be in good standing.

8. Education planning, if applicable 

For those blessed with offspring, you might want to plan for their education fund. We primarily plan for tertiary education as this phase normally starts when we retire or are going to retire soon. 

Just to let you know, I specialise in investment and retirement planning. I primarily work with healthcare workers to build their wealth. In areas where I do not have the necessary expertise, I would refer you to the respective expert.

Although it is best to have a comprehensive financial plan encompassing all areas discussed above, some people might not want to dive deep. We can also do modular financial planning. I will respect your decision and work on your selected areas, if that is your wish.

So what values do I provide?

1. Time

Other than the initial meetings to develop your investment or financial plan, you do not have to put in much of your time to do your own research on the financial instruments or monitor your progress. I will do it for you. However, I will need to get some information from you once in a while. However, the frequency would not be that high and you could spend your time doing things that you like.

2. Peace of mind

After you approve the financial plan, I will help you to implement it. You still have to do some matters personally but I will remind you and help you get through them. Whenever possible, I will help you to automate the steps. With the plan, you will have peace of mind knowing you are on the way towards your goals.

3. Constant monitoring

As your circumstances and the market conditions might change, the plan is not set in stone. It is highly likely that your financial or investment plan has to be updated periodically. We shall review the plan and amend it to suit your circumstances. You just need to reach out to me. Besides that, I will also give you an update on your investment portfolio (if you choose to invest with me) annually. Rest assured that I will monitor your progress continuously, even though I do not update you constantly.

4. Sound advice during market downturn

When the stock market is going up, people tend to be euphoric and when stock market is going down, people tend to be pessimistic. I am here to remind you that the stock market would not be going up in a straight line and corrections are bound to happen once in a while. When the stock market downturn arrives, I will remind you that the market would not go down forever and the long term trend of the stock market is upward. Furthermore, I think stock market crash offers a good opportunity for us to reap long term rewards. However, it runs against human nature to put more money into the market when all you see is red. Thus, I will try my best to persuade you to invest or at least not to pull out of the market and lock in the losses. If I can pull it off, this will be the greatest value that I provide to you.

If you are not a long term investor, we would not be a good fit for each other. I aim for a steady annual return and do not shoot for the moon. Although I cannot promise a positive return every year, I will develop a plan that is very likely to achieve your financial goals. We actually do not need a very high return to achieve our goals, unless you are very ambitious and have a small capital to begin with. If you agree with me, then perhaps we can work together in your journey to reach your financial goals.

As for my fees and charges, I will only share about unit trust and private retirement scheme (PRS) here.

Unit trust

Lump sum investment

Amount (RM)Sales Charge (%)
<5,0003.5
5,000 – 9,9993.25
10,000 and above3.0
*Subject to change.

Wrap fee

Account Value (RM)Annual Fee (%)
<10,0001.5
10,000 – 24,9991.4
25,000 – 49,9991.3
50,000 – 74,9991.2
75,000 – 99,9991.1
100,000 and above1.0
*Subject to change.

Regular savings plan

Amount (RM)Sales Charge (%)
Any amount with a minimum of 1003.0
*Subject to change.

PRS

Amount (RM)Sales Charge (%)
Any amount with a minimum of 1000.0
*Subject to change.

For the other services, you may reach out to me at leckas@myfintalk.com to find out more.

Are you ready to move towards a better financial future? Click the button below to leave your details and I will reach out to you and see if we would be a good fit for each other.

If you are not ready to start financial planning yet, why don’t you join my email list to get information about improving your finances? Click here to sign up and receive a free ebook “Tools for Accumulating Retirement Fund in Malaysia“.