DPN5043 INTRODUCTION TO FINANCIAL PLANNING

1. Above average selling skills You need to be able to successfully close prospects. In my video “ Closing Phrases to Move Clients to Action ” (available to The Taylor Method subscribers), I share  one-liners I use when closing clients, and they all end with the phrase “Let’s Get Started!” 2. Above average networking skills Again this is another  skill I teach in The Taylor Method.  Strive to be the ‘end-all’ for your clients by developing a strong group of networking partners that can address all the needs of your clients you cannot address. By doing so, you will be seen as a trusted advisor. 3. Ability to influence (calm your clients) The real value in an advisor is getting a very stubborn or irrational client to STICK TO THE PLAN. That is very difficult when the market drops by 40%, so your ability to calm your clients’ stresses and make them understand that they’re in this for the long haul is critical to a lasting relationship. 4. Work ethic Selling ...

Introduction   The objective of the Banking & Financial Institutions Act, 1989 (BAFIA) is "to provide new laws for the licensing and regulation of the institutions carrying on banking, finance company, merchant banking, discount house and money-broking business, for the regulation of institutions carrying on certain other financial businesses, and for the matters incidental thereto or connected therewith".BAFIA was introduced to provide for an integrated supervision of the Malaysian financial system and also to provide the Central Bank with the power to speedily investigate and prosecute, if necessary any illegal activities in an attempt o reduce white-collar crime. Scope & Ambit Of The Act   BAFIA came into force on 1st October, 1989, Section 128 of BAFIA provides that the Finance Companies Act, 1969 and the Banking Act, 1973 are repealed from the effective date but, notwithstanding the repeal, all regulations, orders, guidelines, circulars, licenses, approvals iss...

Financial Planning According to Investopedia, a financial plan is “a comprehensive evaluation of an investor’s current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans.” Things like savings, budgeting, insurance, investments, taxes, estate planning, and retirement are all part of a solid financial plan. In other words, financial planning involves assessing every aspect of your financial life to help you create a comprehensive financial plan (or strategy) to help you reach your  short and long-term financial goals . An intelligent financial plan that changes as your life changes is imperative to successfully achieving your financial goals. A financial advisor can help with financial planning, and will provide financial advice for compensation. Investment Planning  Investment planning is about creating an investment plan and sticking to it (even when you see your investments go down). It fact...

Real Property Gains Tax (RPGT) is a form of  Capital Gains Tax  that is imposed on the disposal of property in Malaysia. It was suspended temporarily in April 2007 to December 2009, and reintroduced in 2010. In 2014, the RPGT was increased for the fifth straight year since 2009. So how is it calculated, and what kind of impact does it have on you? Based on the Real Property Gains Tax Act 1976, RPGT is a tax on chargeable gains derived from disposal of property. A chargeable gain is the profit when the disposal price is more than purchase price of the property. What most people don’t know is that RPGT is also applicable in the procurement and disposal of shares in companies where 75% of their tangible assets are in properties, a.k.a. Real Property Companies (RPC). RPGT applies to both residents and non-residents. You will be only be taxed on the positive net capital gains which is disposal price less the purchased price less the miscellaneous charges such as...