First executive certificate for financial advisers
KUALA LUMPUR: United Overseas Bank (Malaysia) Bhd (UOB Malaysia) has partnered the Asian Banking School (ABS) to launch Malaysia’s first executive certification programme aimed at financial advisers whose customers hold more than RM3 million in investments.
The UOB-ABS Wealth Advisory Certification Programme is the first wealth management programme in Malaysia to certify bankers with accredited wealth advisory skills. The programme aims to raise the standard of wealth advisory in the industry to help serve the complex needs of Malaysia’s growing number of high-net-worth (HNW) individuals .
The six-month programme is developed by the Melbourne Business School (MBS) and administered by the ABS.
It combines classroom-teaching with on-the-job coaching to offer participants insight into wealth and portfolio management practices and covers topics in corporate finance, investments, wealth management, consumer behaviour and decision making processes.
It also goes beyond portfolio management to address specific investment needs of high net worth individuals (HNWIs). These include understanding the role of wealth structuring, tax planning and family offices.
Upon graduating, participants are awarded a Professional Certificate in Management by the University of Melbourne and a Professional Certificate in Wealth Management by MBS. This can be used, in part, towards meeting the accreditation requirements of other specialist courses offered by the university.
UOB Malaysia managing director Ronnie Li ms aid as Malaysia’ sH N WI population and wealth grow, banks must be able to meet the increasing demand and requirements of these clients through specialist advice and solutions.
“Malaysia’s HNW wealth is projected to grow by 31.9 per cent to reach US$210.6 billion (RM888.7 billion) by 2020. As customers’ wealth increase, so does the complexity of managing their assets and financial objectives.
“As such, understanding a HNWI customer’s needs at various stages of their life and being able to give them tailored advice that goes beyond portfolio management and wealth accumulation are essential.
“The UOB-ABS Wealth Advisory Certification Programme offers our advisers essential training to be able to advise customers how best to structure and to plan their wealth, taking into account their preferences and lifecycle stages,” Lim said.
ABS chief executive officer, Professor Colyn Gardner said ABS is pleased to be working with UOB Malaysia on this programme that helps develop professional wealth management services in Malaysia.
“Wealth management is a growing area within Malaysia’s financial services industry. To keep abreast with the industry, wealth advisers must demonstrate competence and develop a thorough understanding of how to provide wealth management advice.
The UOB-ABS Wealth Advisory Certification Programme is designed to help specialist wealth advisers develop a comprehensive understanding of wealth management processes and activities and to apply them in their day-to day interaction with customers. UOB Malaysia is raising the bar in the industry with the launch of this programme,” he said.
The UOB-ABS Wealth Advisory Certification Programme is part of UOB Malaysia’s career development programme to encourage continuous training and skills development among its employees. The first intake for 2017 will commence in November.
Malaysia’s HNW wealth is projected to grow by 31.9 per cent to reach US$210.6 billion (RM888.7 billion) by 2020. As customers’ wealth increase, so does the complexity of managing their assets and financial objectives. Ronnie Lim, UOB Malaysia managing director