President address by Alfred Sek – 3rd AFA Conference 2014

President Speech

AFA 2014 Annual Conference

FA The Future. Right Here, Right Now

Alfred Sek

31st October 2014


Our guest of honour, Assistant Governor of Bank Negara Malaysia, Puan Jessica Chew Cheng Lian. Pengarah Jabatan Konsumer dan Amalan Pasaran of Bank Negara Malaysia, Encik Suhaimi Ali. Executive Director of Securities Commission, Mr.Goh Ching Yin. Officials from Bank Negara Malaysia & Securities Commission. Company CEOs, Members of the Media, Fellow Financial Advisers, Distinguish Guest, Ladies and Gentlemen.


A Very Happy Morning,

Todays’ conference marks another milestone for the future of the financial advisory industry in Malaysia. Let me start with a personal reflection. Over the last 15 years, since I started the Financial Advisory business, it was notsmooth sailing as there are many challenges facing the industry. Therefore in 2010, I decided to take the lead to form AFA, as I am convinced that the future for the Financial Adviser in Malaysia requires an Association that will help build the foundation for working with the regulators and all industry stakeholders.


And indeed over the last 4 years with the support from Bank Negara and Securities Commission, the development of the FA industry has been impressive. With the introduction of the Bank Negara concept paper and the changes to the regulatory requirements, more financial practitioners are now optimistic of the potential growth opportunity in this industry.


AFA has added value by stressing the important of working together for the common interest that bind us all. With these let me be an optimist; if all the industry leaders and regulators can come together to agree on the common goals, then we would have a big leap forward in the financial planning industry in Malaysia.


AFA has also initiated the first consumer education programme with the support from Bank Negara and today will be another historic event as we are honoured to have Puan Jessica Chew, Assistant Governor of Bank Negara Malaysia as our guest of honour to launch the First Financial Adviser handbook for distribution to the public.


Going forward, AFA will continue to play an important role in developing action plans together with the regulators to further enhance the development of the FA industry.


With many positives favouring the FA industry, I strongly believe FA will be the future and the place is right here in Malaysia and the time is Right Now. This is also the theme for today’s conference.


This year we are indeed grateful to Bank Negara for allowing us to host our 3rd Annual Conference at this wonderful state of the art auditorium in Sasana Kijang. With this, I would like to say “Banyak Terima Kasih” to Bank Negara.


Following this, I would also like to take this opportunity to give a special thanks to our Guest of Honour Assistant Governor of Bank Negara Malaysia Puan Jessica Chew Cheng Lian, Executive Director of Securities Commission, Mr Goh Ching Yin, all our generous sponsors, speakers, special guest, supporting organisations, participants and all those who have contributed for making this conference possible.


Let us start Right Here, Right Now to make this conference a benchmark for the Financial Advisory industry in Malaysia.


Thank you.



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