PETALING JAYA: Monetary planners must embrace know-how to higher serve their purchasers, as digital instruments can improve the effectiveness and effectivity of their companies, in addition to improve their attraction to extra technology-savvy buyers such because the youthful technology.
Citing an instance, Securities Fee chairman Datuk Seri Dr Awang Adek Hussin mentioned based on a survey by the Institute of Capital Market Analysis, millennials and Gen Zs are extra inclined to make use of robo-advisory companies, however as their portfolio grows, they would favor to work together with a human adviser.
“This means that robo-advisory companies could be complementary instruments to monetary planners to get extra folks to begin investing early, and subsequently, planners can ship extra personalised companies that require a human contact.
“That is particularly as buyers’ wants evolve and develop extra subtle over time,” he mentioned in his keynote handle in the course of the Malaysian Monetary Planning Council (MFPC) Skilled & Ethics Discussion board 2022 yesterday, as reported by Bernama.
As such, Awang Adek mentioned monetary planners mustn’t view robo-advisory companies and different technology-driven companies as their competitors.
“By attracting new buyers, they’ll co-exist with companies that supply extra bespoke recommendation.
“Because the pool of buyers grows with extra various wants, it will finally feed into your companies in addition to the broader business,” he mentioned.
He added that within the present age of digitalisation and disruption, it was heartening to notice that the MFPC was rethinking its e-learning administration system.
He mentioned he hoped that the transfer would additionally help the expansion and promotion of syariah monetary planning to native and regional markets.