A growing number of financial planners make money only when you pay them a fee for their counsel. These independent financial planners don’t get a cut from life insurers or fund companies. You might pay them a flat fee, such as $1,500, for a financial plan. Or you could pay an annual fee, often 1% of all the assets—investment, retirement, college-savings and other accounts—they’re minding for you. Others charge by the hour, like lawyers.
The CFA program is an extremely well-regarded curriculum, and the CIPM program "is the investment industry's only designation dedicated to investment performance analysis and presentation." If articles with titles like "Evaluating Portfolio Performance" by V. Bailey, Thomas M. Richards, and David E. Tierney, and "Investment Performance Measurement: Evaluating and Presenting Results," Philip Lawton and Todd Jankowski, eds. (Wiley 2009) capture your interest, the CFA institute has a reading list that you are sure to like.
The enraged Margayya pulled Dr. Pal out of the car, beat him and dismissed the two women with contempt. The next day Dr. Pal with a bandaged face whispered to all and sundry that things were not going well with Margayya's concerns. Hundreds of people swarmed Margayya and pressed him to return their deposits forthwith. All the accumulated wealth was disbursed. Still hundreds of people could not be satisfied.
In 2005, amendments to the Malaysian Insurance Act require those who carry out financial advisory business (including financial planning activities related to insurance) and/or use the title of financial adviser under their firm (which, like in Singapore, must be a corporate structure) to obtain a license from Bank Negara Malaysia (BNM). Some persons who offer financial advisory services, e.g., licensed life insurance agents, are exempted from licensing as a practising requirement.
The planner might have a specialty in investments, taxes, retirement, and/or estate planning. Further, the financial planner may hold various licenses or designations, such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), Chartered Financial Consultant (ChFC), or Certified Investment Management Analyst (CIMA), among others. To obtain each of these licensures, the financial planner must complete a different set of education, examination, and work history requirements.
Dr. Pal, who sells him the manuscript of a book on Bed Life, for whatever ready cash Margayya's purse contains, assures him that the book named Domestic Harmony will sell in tens of thousands if only he can find a publisher. Madan Lal, “a man from the North”, reads the manuscript and agrees to publish it on a fifty-fifty partnership basis. The book is at once popular and sells like hot cakes and Margayya hits a fortune.
Outside of Quebec, there are currently no restrictions, no educational prerequisites, and no licensing requirements for individuals calling themselves financial planners, or for businesses using "financial planning" in their name or services offered. As of July 2020, Ontario and Saskatchewan have introduced legislation to regulate financial planning titles, but the legislation has yet to be enacted.