Hello.

I am thinking of further studying currently.

CFP (certified financial planner) or MBA ( Master of Business Administration in Finance) or RFP (Registered Financial Planner)

Which one would be the better alternative?

Any advice or suggestion?

Thank You.

This post has been edited by lengchaihow: Jan 5 2008, 04:27 PM

mba is better

IMO, CFA should be better since there is very few people managed to pass this exam !!
THe downside is it is very specialize in one area, thats towards Finance. (so, if u are in Finance career, take this course)
Super damn hard to pass, I heard.
CFA professional body claim that its member Averagely earn more than US$250,000 per annum. (Thats waht it advertised, if I remembered correctly)

MBA, I think lots of people are holding it !
Definetely Easy to PASS !
However, the cost can range from RM 6K -30K. (Local University vs Private College/U)

This post has been edited by Irresistible: Jan 3 2008, 05:58 PM

CFP not recognized in oversea. samething goes to RFP

This post has been edited by wingcross: Jan 3 2008, 06:49 AM

@lengchaihow,
What does ur career path look like? You should make the decision based on which one of these 2 is better to equip u for ur future job. And in this instance, think long term.

thanks for all the informations and suggestions.

For your info, i am an undergraduate who is going to graduate this year. i will be a degree holder during that time. with merely 1 year of working experience (all are in part-time based).
I am keen on job that is more on financial based.

So, i am pondering which one to pick ( CFP or MBA ). i will definitely go for the part time one because i hope to work while studying due to some financial difficulties.

I thought CFP is much more easier to pass than CFA. am i right?

Once again, which one would be the better choice for me ( CFP or MBA in finance )?

Thank You.

This post has been edited by lengchaihow: Jan 3 2008, 02:04 PM

CFP more easy to pass than CFA, yup, u are correct.

But, MBA is the easiest.

I think it's difficult to fail if u've put in the effort to learn and understand what ur studying.

It's also best to have accumulated at least 3 years of work experience (full time!) before u decide to pursue your MBA as the real world experience will definitely help towards application of the academic theories into real life situations. You will be able to benefit from the MBA more.

If u need only Financial management skills perhaps the Professional course is a good option but if ur looking at climbing the corporate ladder and need more than just the financial skills but some form of management skills, it's good to consider the MBA.

CFA professional body got anything to do ith CFP?

I make a mistake, i should be CFA...

that time ,4.00 am haven't sleep, so blur blur

To rephrase tinkerbel, an MBA is more versatile and more widely accepted. You can go into general management, finance, HR, project etc. Of course this assumes you have the experience to back it up, not to mention the EQ/IQ.

In my opinion it's too early to decide right now, work for a few years then decide.

Some MBA are specialisation also right?

Perhaps U can go on doing the CFP p/time while u accumulate the work experience and people managing skills. After which when u are more ready u can go ahead to pursue your MBA?

@Darkmage12,
Yes... u can opt to Specialise in certain areas/fields if u want Or, just do a general degree.

thanks everyone.

Tinkerbel had really given me a useful hint; take a part time CFP before MBA.

But questions pop up, Is CFP a piece prestigious certificate? or it is just merely an ordinary/general course?

To reiterate what Wingcross said; CFP is not recognised worldwide. Is that true?

CFA is more superior than CFP in term of reputation, right?


thank you.

er about CFP is not recognised worldwide im not too sure but CFA is by far the most superior in the field of finance

@lengchaihow,
Am glad I helped. Ain't gonna be able to help u with the CFP/CFA question as I'm really not in the Finance industry. Better check with those who's in the industry

Good Luck to U

CFP requirement is SPM
CFA requirement is first degree
MBA requirement is first degree....
CFA manage fund
CFP...selling fund..i saw PB fund ppl study CFP in Kasturi last time

@lengchaihow

One more thing you have to consider.

Since you are still an undergraduate without proper working experience (Full time job) and you are planning to go for post graduate degrees right after you got your undergraduate degree. It'll be very tough for you.

Like tishaban said, your EQ and IQ is very important. Juggling between your work and studies is SUPER hard. I am going through a hard time right now.

My suggestion is, after you graduate, get a full time job. Manage your job first. If and only if you have time and also the effort to pursue your studies, go for it.

No point studying half way and just quit to concentrate on your job, or the other way round.

Thanks buddies.

@lokgotz

You got the point. it's going to be very tough to take a balance between job and study.
You are right perhaps. i should concerntrate in job in the first place right before pursuing any post study programme.

In between, I think of pursuing a post study programme because i have always thought that the knowledge i own is just not enough, maybe can only barely survive.

I hope to equip myself with more knowledges so that i would have more confidence when dealing with people and situations. Does this make any sense?

Thank You.

i was looking at CFP also, whole course around 10k plus. too bad its not related to my field but i'm quite interested in it.

unless you are planing to go into finance then that's another story

not going into finance, my interest and self improvement only....

This post has been edited by ante5k: Jan 5 2008, 01:06 AM

dun take CFP or other unit trust/insurance certifications. go for Masters. if possible go for specialisation like Risk Management of Finance.
those CFPs arent the same CFP from oversea.

coz when i try to inquiry about those certifications, its only recognized in malaysia only.

How about RFP (Registered Financial Planner) ???

Can someone tell me about RFP??

you need to have CFP only can be RFP right?

@lengchaihow,
Y don't U finish ur degree and then onli think about this?

but it seems like both RFP and CFP have similar syllabus.
i am just wondering what are their differences ?

@tinkerbel

My classes have yet to start, so i will still got some times to think about all these.
anyway, thanks for your concern.

@lengchaihow,
I think it's good to find out what those 2 courses are, but for u think about and to start planning about it seems a little early. Anyhow, wishing u the best of luck

You are right, CFP and RFP have similar syllabus.

The main differences:

1. CFP is both internationally and locally recognised while RFP is loccally recognised.

2. You can get exemptions for RFP if you have completed your CFP studies: RFP has 7 modules, while CFP 6 modules, you will get 4 RFP exemptions while for the remaining 3 RFP modules, just need to sit for exam. If you have RFP, you will only get CFP Module 1 & 2 exempted provided you have passed these two RFP modules.

My advice: go with CFP.

http://www.kmdc.com.my/html/programmes/prog_04cfp_faq.html - for information about CFP (and a little bit on RFP)

http://www.kmdc.com.my/html/programmes/cfp_Exemptions.html - for information about RFP exemptions

http://www.mfpc.org.my - for RFP

http://www.fpam.org.my - for CFP

---

Added on March 5, 2010, 10:59 amHey! CFP is internationally recognised. in fact, it is both internationally and locally (Bank Negara and Securities Commissions) recognised.

The 24 countries or regions that recognised and offer CFP certification program are:

USA, UK, Australia, NZ, China, India, Canada, Hong Kong, Taiwan, Japan, Singapore, South Korea, Thailand, Indonesia, Austria, South Africa, France, Germany, Brazil...

Check these sites:

http://fpsb.org/members.html

http://www.kmdc.com.my/html/programmes/pro...fp_faq.html#b22

RFP is locally recognised.

---

Added on March 5, 2010, 11:06 amYes, I agree with you - for self improvement and interest, CFP is a good program - learn to manage your own personal finance.

Anyone can take CFP, provided you meet the entry requirement: minimum SPM or equivalent. I heard from 2014 onwards, the minimum entry requirements will be raised to a bachelor degree.

This post has been edited by lhklmy: Jan 29 2013, 03:02 PM

if u r interested in doing sthg, just do ur own research and can easily find out the details what.

CFP is internationally recognised in a lot of countries. wingcross was ill-informed.

RFP is the msian certification that is not recognised outside of malaysia.

the two have the same aims thus, their course outlines are identical.
both are good courses. depends on what u intend to do w ur cert, u choose which one suits ur needs lar.

it;s also not right to compare CFP and CFA lor. coz both have diff objectives.

they don't have the same focus. CFP takes on a more overall financial planning (risk management, investment, estate planning, tax planning etc).
as a CFP, u don't need to be the expert in all those fields as long as u can delegate the relevant expertise to ppl who can do it for ur client. eg: u delegate will-writing to ur estate planner contact on ur client's behalf if the client choose to do so.

whereas CFA focuses mainly in investing. ppl expect u to to be the expert in investment.

so can't really compare btw the two. they are apples and oranges.

suggesting ppl to do CFA just to learn more abt investing is really overkill lor.

hope this clears the confusion and comparisons btw CFP and CFA

pls do some research on ur own instead of listening to ppl's hearsays only.

to those that mention mba is the easiest is clearly comparing with the obscure schools... any top 20 business school in the world is never easy... to enter is already a challenge

I'm a spm leaver and i'm currently interested in finance sector. So, which course should i choose? which course would be a better choice in terms of job prospect,salary, work type and etc. Currently, my option is pursuing financial engineering degree at mmu or maybe i can go for CFP but i'm not sure about the requirement yet. thanks in advance.

I prefer MBA because I am a business minded. I don't care about the professional certificate because I don't want to work under people.

So, I believe it is depend on the needs and goal.


This post has been edited by POYOZER: May 29 2010, 01:39 AM

For SPM qualification, you can do CFP, not CFA (requires a first degree), and not MBA unless you have accumulated lots of experience in work as an executive/manager. In many advanced countries, you will need a first degree to pursue CFP but not in Malaysia.

These days, more and more people opt for professional certification. IMO, if you have a degree or MBA, it is good for your career if you are professionally certified too. This will give you an edge. If you do not have a degree, then professional might be a good choice, provided you are clear about your career goal.

RFP is regulated and conferred by the Malaysian Financial Planning Council (MFPC) within msia.

this is a professional cert recognised ONLY in msia.

read further here--->RFPhttp://www.mfpc.org.my/index.php?option=displaypage&Itemid=33&op=page#CourseModules

compare RFP with CFP, CFP is internally recognised.

further reading on CFP --->WIKI CFPhttp://en.wikipedia.org/wiki/Certified_Financial_Planner

CFP is regulated and conferred by FPAM---> FPAMhttp://www.fpam.org.my/fpam/certification-and-standards/home/certification-process/

no.

BUT u can get certain exemptions for RFP after u done ur CFP (or other related degrees/professional papers) and not the other way around.

u can choose to do RFP first then do CFP but since got exemptions, better do CFP first if u want to get RFP title later also.

u can only start CFP at age 21 minimum.

so, best advice is, do ur degree first.

getting a professional cert MEANS don't need to work for other ppl if u want lar.

u'll have the license to open ur own firm with it ald.

yep. this is bcoz FPAM is trying to encourage more ppl to get CFP in msia first.

IMO, professional certs are great extensions to what u learnt in ur degree/diploma.

ha, recently planning to take up the MBA course..

Sunway-Manchester Business School's MBA costs almost RM100k now.

They are probably targeting those whose annual income are in the six-figure category.

If you are not, then it is not for you.

Xuzen

oops!

just saw a typo. "compare RFP with CFP, CFP is internally recognised."------>shld be "CFP is INTERNATIONALLY recognised"

Therefore,

Education Fees =/= Education Quality

It is better to go study at less famous university in the UK. The total tuition fees plus the living cost are still cheaper than Sunway-Manchester. Some are around 80k only. Even though the quality might be lower, but the most important part is you can gain a different experience and exposure over there which are going to benefits you in the future.

some unis are less famous for good reasons.

like some of my frens who went to this lousy uni, the lecturers can suka hati cancel classes very last min and never notify them (ie: notification was communicated after the fact). most times even not appear for no good reason. their classes were scheduled almost everyday about 10hrs of lectures/week but they don't even have 2-3hrs lectures at most.

whatever exposure u might have from this kind of experience will be the most creative uses of foul language when u appear in lecture halls and then u are told class is cancelled.

CFP is globally and locally recognised in 24 countries and regions: USA, Canada, Australia, UK, Germany, France, Japan, China, Taiwan, Hong Kong, S. Korea, India, Indonesia, Malaysia, Singapore, Austria, N. Zealand, Brazil, Switzerland, Ireland, The Netherlands, S. Africa, Thailand & Columbia.

CFP - Local recognition: http://www.fpam.org.my/fpam/frequently-ask...on-in-malaysia/

CFP - Global recognition: http://www.fpsb.org/joinfpsb/fpsbmembers.html

RFP is only recognised locally.

CFP entry requirement from 2014 is a bachelor degee! So those whitout a bachelor degree and still want to pursue CFP, better rush in to enrol with CFP education provider this year.

Kasturi no longer offers CFP.

IFPA and KMDC both are still offering CFP, but I heard IFPA only offers CFP Module 1, while for other modules, it depends on the enrolment number. Cannot find updated information about CFP offered by IFPA

KMDC (KDU Management Development Centre) on the other hand, offers full course, i.e. Module 1 to Module 6, and have 1-6 intakes for each module per semester. It has been the largest and more reputable CFP education provider for many years.

Checked KMDC web site - impressed with their detailed and up-to-date CFP information: www.kmdc.com.my

CFP entry requirement from 2014 is a bachelor degee! So those without a bachelor degree and still want to pursue CFP, better rush in to enrol with CFP education provider this year.

Kasturi no longer offers CFP.

IFPA and KMDC both are still offering CFP, but I heard IFPA only offers CFP Module 1, while for other modules, it depends on the enrolment number. Cannot find updated information about CFP offered by IFPA

KMDC (KDU Management Development Centre) on the other hand, offers full course, i.e. Module 1 to Module 6, and have 1-6 intakes for each module per semester. It has been the largest and more reputable CFP education provider for many years.

Checked KMDC web site - impressed with their detailed and up-to-date CFP information: www.kmdc.com.my

This post has been edited by lhklmy: Sep 4 2013, 11:03 AM

--deleted--

wasnt aware thread is 6 years old.

This post has been edited by siew14: Sep 4 2013, 11:10 AM

The tread may be 6 years old, but the topic discussed is still relevant.

My time, it wasn't. Not sure where i read about it. If its recognized now, then good. Better go for something recognized globally than only locally.

just giving my little opinion, not sure about RFP,Putting the money aside, i say CFP is better than MBA, ermmm, i won't say better, but it's slightly more valuable than MBA,

the reason behind this is you can see there are more MBA holder than CFP, so sometimes company rather hire a CFP holder

however, MBA covers a wider , a very broad range of everything, cause business is everywhere,it's basically a rojak, where everything you think of can be related to business, it's so wide. for CFP, it's more focus on investment, it's more in the learning of financial planning

at the end, it's all about money, you are looking at which certificate will provide a better return than what you've invested in at first, i'll say mba if you go for money, however, it's better to get into top school for mba like NUS for example cause this field is extremely competitive.

Sorry i have no idea bout RFP though

This post has been edited by OrangCacat: Sep 7 2013, 07:50 PM

CFP is both globally and locally recognised, RFP is only locally recognised. Entry requirement for CFP is a bachelor degree from 2014 onwards, right now they still accept those with SPM or equivqlent.

24 Countries & Regions that recognised CFP: USA, Canada, Australia, UK, Germany, France, Japan, China, Taiwan, Hong Kong, S. Korea, India, Indonesia, Malaysia, Singapore, Austria, N. Zealand, Brazil, Switzerland, Ireland, The Netherlands, S. Africa, Thailand & Columbia

Btw, in order to pursue CFP by 2014. It requires to have at least a degree to pursue right. My question is any degrees will do to enroll in this CFP programme? For example; I have a degree in education studies, am I allow to enroll in CFP course?

This thread is quite old but still have so much relevant information.
Any one with CFP certification and mind to share how has it improve your career?
BTW, I am in the taxation industry and am thinking of taking CFP part time. :-p

Anyone selling their complete textbooks and all relevant books/tools relating to CFP course?

My apologies. I hardly come back here to check postings - just found that discussions still on in this topic via Google Search. My reply is late but hope it is useful to others who are seeking the answers on this topic.

CFP, now entry requirement is a bachelor degree - any discipline. Only when it comes to certification, that is, you have completed the whole course (now it is a 4-module course), then you will have to prove you have at least 3 years of relevant work experience in financial industry to be eligible for full certification.

Exception - if you do not have a degree:

1. members of FIMM - Federation of Investment Managers with a diploma plus passed CUTE or PRS exam
2. those with at 5 years of relevant work experience, but without a degree, then go for a test by FPAM - Prior Learning Recognition Assessment (PLRA). If passed, then can gain entry to CFP programme.

Check information from these two sources:

1. Financial Planning Association of Malaysia: www.fpam.org.my
2. CFP education provider: www.kmdc.com.my

I often found this Facebook Page that I have liked very resourceful and have encountered a few postings that replied your questions - but, sorry, I cannot traced them (takes time). I suggest you check the Facebook Page: www.facebook.com/mycfp

(If I found the postings or articles, I will come back here to post it.)

Auh! Found one - just use Google - https://www.apnacourse.com/blogs/certified-...reer-prospects/

Hope it helps.

One more point - for those still seeking information about CFP and its career options, I suggest you make good use of Google - I got tonnes of relevant links and information by entering these key phrases:

CFP Malaysia

CFP course Malaysia

Hello.
I have a question in my mind. I'm planning to be a Certified Financial Planner(CFP). I heard that we can make money in this industry. Well, my question is...

Would any of you share what kind of job/industry i'm about to embark upon? Would you help me to get a better picture of this type of job/industry so that i have a clearer idea of what i'm about to encounter in this industry or so-called CFP thingy? Please help me to elaborate more on this job detail.

Benefits of CFP Certification includes:
Enhance employment and career opportunities especially in the financial services industry as in banks, insurance companies, unit trust companies, asset management companies and others.
Recognition by peers and fellow professionals as having met the global benchmark for competency, ethics and professional practice standards in financial planning services.
Recognition by the public of having a professional qualification that inspires trust among financial consumers.
Recognised Globally in 26 countries and regions and locally recognised by Bank Negara and Securities Commission
Opportunity to increase revenue stream by offering more financial products and services to your clients.
Client satisfaction by providing comprehensive approach to financial planning.
Recognition and exemption by a wide number of bodies including regulators. (List of Recognition: http://www.fpam.org.my/fpam/frequently-ask...n-in-malaysia/)
Practitioners’ Workshop – Guidance and workshops to enhance professional practice.


PM me for course enrolment!