Cash Flow Analysis
Risk Management
Estate Planning
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An Islamic Financial Adviser (IFA) is a company approved by Bank Negara Malaysia (BNM) under the IFSA to carry out Islamic financial advisory business.
An “Islamic Financial Adviser’s Representative” (IFAR) means an individual, however styled, in the direct employment of, acting for or by arrangement with an approved IFA, who performs for the IFA any services relating to Islamic financial advisory business.
Establish Client-Planner Relationship
Begin by defining the financial planner’s role, setting expectations, and outlining services. This step builds trust and understanding.
Gather Client Data and Set Goals
Collect information about the client’s financial situation, including income, expenses, assets, liabilities, and financial goals. This is essential for creating a tailored plan.
Analyze and Evaluate Financial Status
Assess the client’s current financial position based on the data collected. Identify any gaps in savings, investments, insurance, or retirement planning.
Develop and Present Financial Plan
Create a personalized financial plan that addresses the client’s goals and needs, complete with strategies for budgeting, investing, risk management, and tax planning.
Implement the Financial Plan
Put the plan into action, coordinating with other financial professionals if needed (e.g., investment managers, insurance agents).
Monitor and Review Progress
Regularly review and update the plan to keep it aligned with any changes in the client’s life, goals, or financial situation.
An IFA is an independent party that provides financial advisor services to the customer based on the customer’s financial needs. Therefore, the IFA sources for Takaful plans from multiple Takaful operators that best suit your needs.
A Takaful agent represents its principal Takaful operator and primarily offer Takaful plans issued by the Takaful operator it represents.
These differences are illustrated in the table below:
You may check a person's license under Bank Negara Malaysia (BNM) by clicking at the link below:
https://www.bnm.gov.my/regulations/fsp-directory/far
Ahmad really opened my eyes to the importance of choosing the right takaful plan for my family.
As parents, it’s easy to overlook details, but he broke down all the options and helped us make a decision with confidence. The best part was knowing he could compare plans from multiple takaful companies, so we knew we were getting the best deal. Highly recommend his expertise!"
As a new parent, I was overwhelmed with the idea of securing the right coverage for my baby.
Ahmad was incredibly patient and knowledgeable. He took the time to explain everything, from basic coverage to specialized medical card plans, and answered every question I had. I now feel confident knowing my family’s financial protection is in good hands!
I was looking for a way to protect my family without overpaying or getting unnecessary coverage.
Ahmad’s approach was so refreshing – he gave honest advice, offered comparisons from multiple takaful providers, and helped us build a plan that truly met our needs. His service is a lifesaver for anyone who wants reliable guidance and personalized options.